Local Real Estate Market Report In Harmony FL
This Is A Local Real Estate Market Report With JeanineCorcoran, Broker of Corcoran Connect
This is part of our Discover Harmony Florida podcast series. Wewelcome you to the 2nd episode of Discover Harmony Florida.
Your host will be Jeanine Corcoran, broker of Corcoran Connect.Jeanine will be joined by Kristin Macari from Studio Nine 13, alsoa realtor with Corcoran Connect and owner of Studio Nine13 a video production company. They are residents of Harmony, Florida. Jeanine has beena resident of Harmony since 2005.
Today, we wanted to talk about housing statistics. The HarmonyFlorida real estate market in 2020 was on fire and that hascontinued to be the case in 2021. It is even more insane this year.Jeanine mentioned that at the peak in 2021 around theMarch-April-May timeframe that one home she sold actually had 60confirmed offers on it.
The sweet spot with homes for sale in Harmony is right between $300- $350K. Jeanine made note that there were no condos or townhomesthat sold in September which was interesting.
There are a few market segments in Harmony. We have Ashley Parkwhich is condos and townhouses and then the rest of Harmony and tothe East we have a 55 and older community called TheLakes. There is South Lake and East Lake.
In Harmony, We Have Diverse Groups Of Different PeopleOf Different Ages
There is a house for everybody in this wonderful small town.Here are some interesting statistics when comparing 2020 to 2021.Last year the average price per square foot was $136.57 and thisyear it is $164.43. That is a significant increase from year toyear.
Corcoran Connect had sold 18 single-family homes inSeptember and 14 of the 18 sold in less than 7 days. Six of thehomes sold were in cash, six were conventional and six were FHA/VAloans.
In the Lakes of Harmony which is on the East side of Harmonywhich is for 55 and older, there were a couple of homes that justsold under $300K. When you live in the Lakes, you have all theamenities. You have a Clubhouse, pool, activity room, tennis,pickleball, and more. So, if you are over 55 years old, you canstill buy a house for under $300K, and if you are under 55 not somuch.
Jeanine doesn’t foresee any homes selling for under $300Kin the month of October in The Lakes when the report comes out nextmonth. For the month of August in all of Osceola County for allsingle-family homes sold, the average price was $285K compared tothis year at $358K.
The Harmony Real Estate Market Continues To BeHot
Kristin asked Jeanine if she was expecting any changes in thelocal real estate market here in Harmony and Jeanine answered thatin her opinion and that of experts, no changes at least for thenext year. She continued that it does have to flatten out at somepoint, just not in the near future.
Jeanine does speak with her sister, real estate mogul and starof Shark Tank Barbara Corcoran often and they recently talked aboutthe real estate market and Barbara felt as well that at least forthe next year, the hot market would continue.
There is just no inventory and builders can’t build fastenough Jeanine stated. There is no new construction other than inThe Lakes. They have a new community that just started constructioncalled Enclave a gated community. The amazing thing with this newcommunity is it is almost sold out and the first house isn’teven done yet.
Real Estate Inventory In Harmony IsScarce
For those who are not aware we have in Harmony a CDD which is anadded tax that pays for all of the amenities within the community.As a comparison, the CDD is similar to HOA fees with the lowestbeing around $62 a year for condos and townhomes and the highestbeing $200 a year for more custom homes.
We hope you enjoyed our local real estate market report withyour host of Discover Harmony Florida, Jeanine Corcoran.We’re going to be doing these podcasts every week, coveringdifferent topics throughout the month. We'll keep you in theloop on different events that are coming up.