St. Cloud FL Real Estate Market Overview For 2022
St. Cloud FL Real Estate Market Overview For 2022 ABanner Year In Our Local Market
In this edition of the Discover St. Cloud Florida podcast,Jeanine Corcoran of Corcoran Connect and Kristin Macari of StudioNine 13 will provide a St. Cloud FL real estate market overview for2022. As experts in the field, Jeanine and Kristinwill be discussing the latest trends, developments, and market performance in this episode of thepodcast. Tune in to episode 49 and stay up to date on the latesthappenings in the St. Cloud FL real estate market.
Kristin emphasized that the data being discussed in this podcastis unique in that it utilizes median figures instead of thecommonly used average numbers. This approach eliminates anyoutliers that can skew the results. Jeanine added that thecomparison of January and June in the podcast is being made againstDecember 2022.
Video Podcast Covering TheSaint Cloud FL Real Estate Market Comparisons From Beginning,Middle And End Of 2022
Jeanine started reporting on zip code 34769. The days tocontract for December 2022 were 23 and the days to close were 51.There were 22 homes that sold in December and the median price persquare foot was $225.48.
Kristin stated they were comparing the numbers from December2002 to the beginning of the year in January 2022. Jeanine said inJanuary, it was taking 14 days to contact versus 23 days inDecember. It was taking 53 days to close in December versus 51 daysin January. The median price per square foot was $196.42. Therewere 32 homes that sold in January versus 23 in December.
Real Estate Market Transactions Comparison For St.Cloud FL Zip Code 34769
Kristin said if you look right now in St. Cloud FL zip code34769 comparing December to January 2022 it took 1.6 times longerto sell a home and get it under contract. So, in December 2022 itis taking longer to sell a house compared to the beginning of theyear last year. She also said the median price per square foot isstill up 14.8% from January.
Next, Jeanine and Kristin went to the middle of 2022 andcompared where the St. Cloud real estate market is now versus themiddle of 2022. Jeanine said in June 2022, the number of days tocontract was 7 and the number of days to close was 39. The medianprice per square foot was $246.64 and the number of homes that soldin June was 47.
Kristin added that she thought that was unusual because that wasthe greatest number of homes sold in a month for zip code 34769 for2022 and by summer it felt like things had calmed down.
Kristin said if you look at the numbers from June to December of2022 it took about 3.3 times as long to sell a home. Homes wereonly on the market for 7 days and now it is taking 23 days. Thesold price per square foot in June was down from $246.64 to $225.48in December which represents a decrease of 8.6% in zip code34769.
Real Estate Housing Statistics In Saint Cloud Zip Code34771
Jeanine then moved to zip code 34771 calling it the most activezip code in St. Cloud, Florida. Kristin reminded everyone that thestats they are going to share are void of new construction. Jeaninesaid the days to contract were 45 for zip code 34771 in December2022 and the number of days to close was 63. The number of homessold in December was 27 and the median price per square foot was$223.75. She said that is a low number of homes sold because allthe new builds were removed.
Jeanine then gave the numbers for January 2022 for zip code34771. The number of days to contact was 15 and the number of daysto close was 62. There were 44 homes sold in January and the priceper square foot was $195.83.
Kristin added that if you look at January through December 2022,it is taking about 3 times as well to sell a home now versus thebeginning of last year. The median price per square foot is up14.3%, from $195.83 to $223.75 representing a healthy gainthere.
Jeanine then reported on mid-year in June 2022 for zip code34771. The number of days to contract was 8 and 44 days to close.The number of homes sold was 45 and the median price per squarefoot was $233.71.
June 2022 Was A Hot Real Estate Market In Saint CloudFlorida
Kristin said June seemed to be a hot month in real estate in2022. Right now it is taking you 5.5 times longer than in Juneto close on a home. The days to contract are 5.5 times longer nowthan it was in June of 2022. The sold price per square foot is down4.3% going from $233.71 to $223.75.
Jeanine then moved to St. Cloud Florida zip code 34772. Thenumber of days to contract in December 2022 was 39 and the numberof days to close was 75. There were 31 homes sold in December andthe sold price per square foot was $207.10.
Then, looking back at January 2022 the number of days tocontract was 20 and the number of days to close was 50. The numberof homes sold was 26 and the sold price per square foot was$190.27. Kristin pointed out that the number of homes sold issimilar with 26 sold in January and 31 sold in December. She alsosaid it is taking twice as long to get under contract but youroverall price per square foot is still up 8.8%.
In June the number of days to contract was 7 and the number ofdays to close was 42. The number of homes sold was 53 and the priceper square foot was $217.07.
How Long Will It Take To Sell My Home In Saint Cloud FLNow?
Kristin said if you compare June to December 2022, you arelooking at 5.5 times longer to get a home under contract going from7 days to 39 days. There was a decrease of 4.6% in the sold priceper square foot. The price per square foot was $217.07 in June andnow is $207.10 in December.
Jeanine commented on what she tells people who are looking tosell their homes now and they ask her how long it will take tosell. She tells them at least 60 days. It doesn’t mean therecouldn’t be an offer within the first week. She likes to setproper expectations upfront so there isn’t disappointment andfrustration.
Jeanine then moved to Saint Cloud zip code 34773. The number ofdays to contract for December 2022 was 22 and the number of days toclose was 100. The number of homes sold was 3 and the soldprice per square foot was $209.22.
She then compared December’s numbers to December 2022. Thenumber of days to contract is 5 and the number of days to close is47. The number of homes sold was 8 and the sold price per squarefoot was $176.36.
Kristin stated that it is taking 6.5 times as long to sell ahome in December 2002 versus what it did in January 2022. The soldprice per square foot was up 18.6% from January to December.
Identifying The Trends Happening In The St. Cloud FLReal Estate Market
Jeanine said in June of 2022 we had 10 days to contract and 47days to close. The number of homes sold was 13 and the sold priceper square foot was $194.01. Kristin said it is taking 3 times aslong in December to get a home under contract versus what it was inJune. The price per square foot from June to December is up 7.8%.Every other zip code was down in this comparison.
Kristin said the focus of this episode was to identify thetrends happening in the Saint Cloud Florida real estate market. Itwas also to talk about what Jeanine sees happening in 2023 and whatthe experts are saying.
Jeanine said she just read an article by Florida Realtors, andthey said they see this market that we are experiencing nowcontinuing through 2023. They don’t expect the prices to comedown. The prices might even out a little bit, but they do expect itto be a healthy strong market. Jeanine added that home prices willremain high, but growth will be slower.
Jeanine said she sees builders offering crazy incentives rightnow. She reminded people not to go to builders withoutrepresentation. She continues to tell home sellers that theydidn’t lose all the equity they gained over the past twoyears. Yes, it is taking longer to sell but the equity is stillthere.
Local St. Cloud Florida Real Estate Agents Are SeeingAn Increase In Active Home Buyers
Jeanine just had a team meeting with her real estate agents, andthey all agreed that over the last 10-14 days the floodgates haveopened, home buyers are out looking, and everyone is getting busy.She added if the Fed doesn’t raise the interest rates, sheanticipates a strong year in real estate in 2023.
We hope you enjoyed Jeanine and Kristin walking you through theSt. Cloud FL real estate market overview for 2022. We will continueto cover the trends, and how we see 2023 playing out in the realestate market.