Real Estate Market Report For St. Cloud FL January 2023

Real Estate Market Report For St. Cloud FL January 2023Shows Longer Days To Contract

Jeanine Corcoran and her co-host Kristin Macari will beproviding the market overview. This will be the 53rdinstallment of the Discover St. Cloud Florida podcast. Listenerswill be treated to an insightful discussion on the state of thereal estate market in St. Cloud, FL.

Jeanine and Kristin will be joining forces to shed light on thelatest developments in the industry. Get ready for an engaging andinformative episode filled with expert insights and analysis.

Kristin asked Jeanine what happened in January 2023 in our realestate market report. Jeanine answered that in the Saint Cloud zipcode 34769 which covers most of the downtown area, there were 13homes that were sold. Twelve of the homes sold were single-storyhomes and only one was a two-story home.

Video Podcast Covering TheSaint Cloud FL Real Estate Market For January2023

The single-story homes came in at $239.76 price per square footand the two-story home that sold came in at $146.38. Kristin addedthat the month-over-month price per square foot was up 5.9% andyear over year it is still up 14.4%. These numbers are compared toJanuary 2022. The days to contract were 51 and the days to closewere 80.

The numbers for St. Cloud zip code 34771 showed there was atotal of 62 homes that sold in January. There were 34 one-storyhomes that sold at an average price per square foot of $239.19 andthe 28 two-story homes had a price per square foot of $191.10.

Homes Sold In Saint Cloud Florida Zip Code 34772 ForJanuary 2023

Kristin continued with the month-over-month numbers which are up2.9% and year over year is up 9.7%. Again, these numbers comparethe price per square foot numbers for January 2023 to January of2022. The days to contract were 84 and the days to close were 118.These numbers excluded new builds.

Jeanine then moved to Saint Cloud zip code 34772. There were 34homes that sold with 25 being single-story homes and 9 that weretwo-story homes. The single-story homes had a price per square footof $232.34 and the two-story homes came in at $181.37.

Kristin said month over month compared to last year in Januarythe price per square foot is up 1.6% and year over year there wasno change. The days to contract are 47 and the days to close were83.

Jeanine, then moved to St. Cloud zip code 34773 where she saidthere is not a lot going on at all. There was a total of 7 homesthat were sold in January. She said they don’t includetownhomes or condos in these numbers. There were six single-storyhomes and one two-story home that was sold. The single stories camein with a price per square foot of $221.26 and the single two-storyhome came in at $262.59.

St. Cloud Florida Vacant Land Sales for January2023

Kristin added the month-over-month averages compared to lastJanuary in 2022. The price per square foot is up 24% this monthversus January of last year. Year-over-year numbers for price persquare foot are up 4.4%. She said the days to contract were 18 andthe days to close were 76.

Jeanine then moved onto vacant land sales in St. Cloud FL. Shesaid there were only 7 sales in January and there were no bigdeveloper purchases at all. Jeanine said 6 of the 7 sales were incash. The one exception was a sale with private lending. Thelargest sale for 2.7 acres was on Rambler and was listed and soldfor $235K. Jeanine said there were no big purchases and Kristinwondered if there were any big purchases left.

Jeanine then reported on Harmony FL homes that were sold inJanuary 2023. She said Harmony Main only had two sales. There wasone sale in Ashley Park which was a two-bedroom condo and there wasone sold in The Enclave where Kristin lives.

The condo that was sold in Ashley Park had a price per squarefoot of $178.57 and the home in The Enclave had an average priceper square foot of $220.36. Jeanine continued and said there were 5homes sold in Harmony West. All 5 homes that sold were single-storyhomes and came in at an average price per square foot of$213.18.

Saint Cloud FL Homes Taking Longer To Go UnderContract

Jeanine clarified that the days to close are from the time ahome goes on the market to when it closes. Kristin added thatthings are taking a little bit longer to go under contract. Jeanineagreed and said she has been telling sellers to expect 60 days.However, she said there are cases in today’s market where itcan happen within the first week or two. She noted that she had twoof her sellers receive multiple offers recently.

Jeanine added that the 55 and older community is very slow rightnow and that is different from what we have been experiencing.Kristin commented that with the snowbirds this would be their timenow so that is unusual. Jeanine said that she is in that age groupand believes they are being cautious right now. She said thecurrent interest rates and inflation could be what is botheringthem.

Kristin clarified that when she reports the number of days tocontract and days to close, she only considers resales and excludesnew builds. If we included new builds, it would skew the numbersgreatly and not reflect the true market conditions.

Jeanine said to sellers that your homes are sitting on themarket a little bit longer and we are also seeing where sellers arehelping buyers with closing costs or buying down the rate. She saidthat is just the market we are in right now.

Contact Corcoran Connect Today For Your Real EstateNeeds

We hope you enjoyed Jeanine and Kristin walking you through thereal estate market report for St. Cloud FL January 2023. Ourmission is to keep you informed and up to date with all the latesttrends, statistics, and developments in the housing market of SaintCloud, Florida.