St. Cloud FL Real Estate Market Report For June 2022

St. Cloud FL Real Estate Market Report For June 2022 ByJeanine Corcoran, Broker of Corcoran Connect

Jeanine and Kristin discuss what happened in the St. Cloud real estatemarket in June 2022. Welcome to the 26th episode of Discover St.Cloud Florida. Kristin started off this month’s real estatemarket recap by asking Jeanine what happened in St. Cloud zip code34769?

Jeanine said there were 47 homes that sold. Forty-two of thosehomes were single stories and 5 were two stories. The one-storyhomes that sold were at $240 price per square foot versus lastmonth when that number was $233.

The two-story homes were at $215 price per square foot whereaslast month that number was $190 a square foot. In May there were 47homes that sold which equaled the total in June 2022.

Kristin then asked Jeanine to comment on what happened in St.Cloud zip code 34771. Jeanine replied that this is the busiest zipcode right on Narcoossee Road by her office. Kristin said in Juneof 2022 there were 90 properties sold. The average price per squarefoot was $225.92. She said the one-story homes had a price persquare foot of $242 and the two-story homes came in at $193.

Kristin then asked Jeanine to compare these numbers to lastmonth in May 2022. Jeanine said in May 102 properties were sold.She said the single-story homes had a price per square foot of $237in May versus $242 in June. Two-story homes in May had a price per square foot of$189 versus $193 in June.

St. Cloud Florida Sales In Zip Code 34772

Jeanine then moved onto St. Cloud zip code 34772 which saw 70properties sold at an average price per square foot of $219.Fifty-four one-story homes were sold in June at $234 price persquare foot. Sixteen two-story homes were sold and the price persquare foot was $167.

Jeanine stated in comparison to the single-story homes,May’s price per square foot was $222 versus $234 in June.Regarding two-story homes price per square foot in May was $186versus $167 in June so a little bit of a dip there.

Kristin then moved onto St. Cloud zip code 34773 whichrepresents Harmony Florida. In Harmony and Harmony West there werea total of 25 sales in June 2022. The average price per square footwas $202.52. The one-story homes came in at $212 price per squarefoot versus the two-story homes which came in at $189.

Jeanine added that in May 2022 as a comparison there were 20homes sold versus the 25 in June. The single-story homes came in at$217 a square foot versus $212 in June. The two-story homes came inat $165 versus $189 in June.

Vacant Land Sales In St. Cloud FL For June2022

Kristin then moved on to vacant land for sale in St. CloudFlorida. She said there were 17 parcels that sold in June. The mostexpensive parcel went for $13M and included 9.8 acres of land whichwas on Harmony Square drive. Kristin stated there was also a salefor a $1.6M parcel sold on Harmony Square drive as well.

Jeanine stated out of the 17 parcels sold, 15 were cash buyersand the other two were seller financing. Kristin added that vacantland is going quickly if you can get your hand on a piece ofland.

Jeanine commented that homes are staying on the market longer.She said that we have transitioned from where the old market whereproperties were selling so fast to the new market where they arestaying on the market longer. Jeanine emphasized that it is not abad market at all.

Kristin added that this new market is in fact the traditionalmarket and Jeanine agreed. They both said that the status now is anormal market. It is not a crash in the market. Jeanine added thatthe interest rates now at 5-6% are where the market waspre-Covid.

The interest rates are not high at all when you compare rateshistorically. Kristin added that the people that were in the marketto buy before at a lower interest rate have less purchasing powernow and that is where that feeling of not getting as much house asthey could have 6 months ago.

Home Sellers And Home Builders Are Now Helping WithClosing Costs

Jeanine mentioned that there are some good programs availablenow to help offset that. She said there are things like theHero’s program and others that can help first-time homebuyers who are feeling like they won’t be able to buy ahome.

Sellers and builders are now helping with closing costs which isa shirt Jeanine said. She added that builders aregiving realtor bonuses, and helping with buyer closing costs,and now regular sellers are doing the same thing.

Kristin added that for two years, those things were gone, and itis nice to have them back. It represents a healthy market. Jeanineoffered this, how about instead of getting money towards closingcosts, ask the seller to buy down your rate.

Kristin stated that what she is seeing is real estate agents arebusier now and listings are increasing and that is definitelyhelping to correct the inventory problem in the market. Shecontinued that for a long time there was no inventory and thatdrove the prices up.

Kristin asked Jeanine what she is seeing happening in the realestate market? Jeanine stated that things have slowed down but thatslow down happened from a market that was on fire. She continuedthat it has returned to a traditional market and that it is stillhealthy.

Fall Is A Perfect Time To Buy A Home In Saint CloudFL

Jeanine said that once you get to September the market slowsdown and then slows down even more through October and November.She continued that when sellers list their homes in November andDecember there is a reason for it and that is a great time to buy.Nobody wants to move during the holidays she said.

We hope you enjoyed Jeanine and Kristin walking you through theSt. Cloud FL real estate market report for June 2022. Our goal isto keep you in the know about the housing market and statisticshere in Saint Cloud which includes Harmony, Florida. View thevideo source.