Real Estate Market Report For St. Cloud FL February 2023
Real Estate Market Report For St. Cloud FL February2023 Confirms Sales Have Slowed
Jeanine Corcoran and her co-host Kristin Macari present the 55thepisode of the Discover St. Cloud Florida podcast. Listeners canexpect an informative conversation about the current state of theSt. Cloud FL real estate market.
Prepare yourself for an enlightening and informative episode asJeanine, the broker of Corcoran Connect, and Kristin, the owner ofStudio Nine 13, collaborate to discuss the latest developments inthe real estate market in Saint Cloud, Florida. You can lookforward to receiving expert insights and analysis during thisengaging conversation.
Kristin said that they are going to be talking about whathappened in February 2023 in the greater Saint Cloud Florida area.She said that they will kick off the market report with Saint Cloudzip code 34769.
Video Podcast Of HousingMarket Statistics In Saint Cloud Florida
Jeanine stated that there was a total of 20 properties that weresold in February. There were 19 single-story homes that were soldat a price per square foot of $222. The two-story home that soldcame in at $192 price per square foot. The overall average priceper square foot was $220.56.
Kristin said that the overall average price per square footcompared to January 2023 is down 5.2%. She said January 2023 was at$232.57 and February came in at $220.56. Comparing February 2023 toFebruary 2022, the market is still up over 8%. The days to contractwere 25 and the days to close were 53.
What Does Days To Contract Mean?
Kristin explained the meaning of days to contract and days toclose. She said the days to contract is the number of days thatyour home sits active on the market before going under contract.The days to close means the number of days from when you list yourhome to when you close. Kristin also noted that they use the medianas it gives a better representation of what is happening in themarket.
Kristin then asked Jeanine what we had going on in Saint Cloudzip code 34771. Jeanine replied and said that zip code 34771 is thebusiest zip code and there were 40 homes that sold in February.There were 20 single-story homes that sold and 20 two-story homesthat sold in February. The single-story homes that sold had a priceper square foot of $222.36 and the two-story homes came in at$190.27. So, the overall price per square average was $206.32.
Kristin added that the monthly comparison of February 2023versus January 2023 saw a decline of 6.1%. Last month, in January,the price per square foot was $219.74 and in February it was $206.When you look at year over year comparing February 2023 versusFebruary 2022, the market is still up 2%. In February 2022 theoverall average price per square foot was $202.43 and this Februaryit was $206.32.
Homes Sold In St. Cloud Florida Zip Code 34772 InFebruary 2023
Kristin continued with the days to contract which was 66 and thedays to close was 94. To recap, she said, you’re looking atabout 2 months to get a contract and 3 months to close on it.
Jeanine then reported on St. Cloud FL zip code 34772 homessales. There were 42 homes that were sold in February. Thirty-fiveof the forty that were sold were single-story homes and the priceper square foot was $218. The 7 two-story homes that sold had aprice per square foot of $174.27. The overall price persquare foot in zip code 34772 was $210.71.
Kristin said the month-over-month comparison for the overallprice per square foot was down 3.8%. In January of 2023 the $218.99and in February it came in at $210.71. In comparing February 2023to February 2022, the market is still up 5% with the overallaverage price per square foot of $210.71 versus $200.96. Shecontinued with the days to contract in zip code 34772 which was 72and the days to close was 112.
Jeanine then shared the housing statistics for Saint Cloud FLzip code 34883. She said there were 11 homes that were sold. Eightof the eleven homes that were sold were single-story homes and hada price per square foot of $223.96. The three two-story homes thatwere sold had a price per square foot of $181.64. This brought anoverall average of $212.42.
Saint Cloud Florida Vacant Land Sales During February2023
Kristin reported on the month-over-month average price persquare foot being down 4% from $221.26 to $212.42. Year over year,the market is still up almost 14%. Last February 2022 the overallaverage price per square foot was $186.55 and for February 2023 itis $212.42. The days to contract were 33 and the days to close were51.
Vacant land sales were given by Jeanine next where she reportedthat only 7 parcels were sold in February. She said the largestsale went for $600K and the buyer paid in cash for just under anacre. The second largest parcel sold was for $200K and included 5acres.
Lastly, Jeanine reported on the home sold in Harmony Florida.Jeanine said in Harmony main there were only two properties thatwere sold. One was a single story, and one was a two-story home. She said the single story was on Bracken Fern and that had aprice per square foot of $171.39. There was a home on The Lakesthat was sold and had a price per square foot of $194.98.
Harmony West had a total of 9 homes that sold. Of the 9 homesthat sold, six of them were single-story homes that had a price persquare foot of $223.38. The 3 two-story homes that were sold had aprice per square foot of $186.03.
A Shift In The Real Estate Market Creates Caution InThe 55 And Over Community
Kristin called out the fact that when there is any kind of ashift in the market that the 55 and over communities are the mostcautious and she asked if that what Jeanine is seeing. Jeanineanswered that what she is seeing in Harmony, The Lakes and LakeNona is very slow right now. She continued and said typically thesnowbirds come down in November, December, and January. It has justbeen a slow season and the 55 and over community are very cautiousholding onto their money when there is a shift in the market.
We hope you enjoyed Jeanine and Kristin walking you through thereal estate market report for St. Cloud FL February 2023. At ourcore, we are dedicated to providing you with the most recenttrends, statistics, and progressions within the Saint Cloud,Florida housing market. Our objective is to ensure you remainknowledgeable and always informed.