St Cloud FL Real Estate Market Report For November 2022
St Cloud FL Real Estate Market Report For November 2022Confirms We Are In A Normal Market
Jeanine Corcoran, the broker of Corcoran Connect is joined byher co-host Kristin Macari, the owner of Studio Nine 13. They willbe presenting the housing market statistics in the Saint CloudFlorida real estate market during the 44th episode of the DiscoverSt. Cloud Florida podcast.
Kristin started by asking Jeanine what happened in the realestate market in St. Cloud Florida for November starting with zipcode 34769. Jeanine said there was a total of 21 properties soldwith an average price per square foot of $225.75. Seventeen of thetwenty-one homes sold were single-story homes at $226.24 per sq.ft. and the four two-story homes that sold came in at $223.67.
Video Podcast RegardingThe Status Of The Saint Cloud Florida HousingMarket
Kristin added that the month-over-month number of $225.75average price per sq. ft. was up 3.1% and year over year the marketis up 16.7%. The average days to contract is 43. This means that ittakes on average 43 days to get a contract that sticks. The days toclose came in at 75. These numbers are up from the previous monthby about 10 days each respectively.
Kristin asked Jeanine if these numbers are typical for this timeof year. Jeanine said yes, from September through December thingsare slower. Kristin then asked Jeanine about the Saint Cloud zipcode 34771.
Saint Cloud FL Zip Code 34771 Had The Most Homes SoldIn November 2022
Jeanine stated that as usual zip code 34771 had the most saleswith 71 properties sold in November. Of the 71 homes sold inNovember, 46 were new construction homes. She said sales were splitdown the middle as 35 of the properties sold were single-story at$243.70 price per square foot. The remaining 36 homes sold weretwo-story homes at $184.52.
Kristin stated that the overall month-over-month averages aredown 2.4% on the price per square foot. The year-over-year numbersstill have the market up by 3.4%. The average days to contract is55 and the average days to close is 89. So, the days to contract is20 days longer than it was last month.
Jeanine clarified that the days to contract are from the momentit is listed until there is a contract and days to close are fromthe moment it is listed until it closes.
Jeanine then moved to Saint Cloud zip code 34772 where therewere 39 properties sold, 29 were single-story homes and 10 weretwo-story homes. The price per square foot of $225.36 was for thesingle stories and $202.54 for the two-story homes sold.
Kristin added that the overall average price per sq. ft. was$222.48 which is up 4.6% month over month and year over year is up12.3%. The average days to contract for zip code 34772 was 47 and95 days to close.
19 Homes Were Sold In St. Cloud Florida Zip Code34773
For St. Cloud Florida zip code 34773 there were 19 homes thatsold Jeanine said. Thirteen of the nineteen were single-story homesat an average price per square foot of $223.54 whereas the 6two-story homes came in at $176.13 price per sq. ft.
Kristin stated that the overall average month-over-month priceper square foot was $208.57 which is down 2.6% and year over yearthe market is still up 23.6%. She continued with the average daysto contract which was 84 and the average days to close was 110.
Kristin went on to report that they combined all Saint Cloud FLzip codes, 34769, 34771, 34772, and 34773 and the average days tocontract was 51 and the average days to close is 88. Whatthis means is for example if you needed to be somewhere by June of2023, you would need to list your home by March to be sure you makeit.
Jeanine and Kristin touched on how your home needs to be pricedcorrectly if your goal is to sell it quickly. Jeanine said homesthat are priced correctly will sell quickly. Homes that are pricedtoo high will sit on the market longer. This is definitely a solidreason to have a good realtor by your side.
November 2022 Vacant Land Sales In St. CloudFlorida
Jeanine then moved to vacant land sales for November. She saidthere were only 5 parcels that were sold last month. Thehighest-priced parcel was listed at $1.3M and ended up selling for$1.05M which represented 10 acres.
Jeanine then reported on the homes sold in Harmony Floridaspecifically. She likes to break them down by section. The averageprice per square foot for the 17 homes that sold in November was$208.72. The average price per sq. ft. in Ashley Park, whichrepresents condos and townhouses, was $167.64. There was only oneresale which came in at $214.37 price per sq. ft. There was onehome sold in The Enclave which came in at $167.56 price per sq. ft.and in The Lakes, the average price per sq. ft. was $182.75.
She then reported on Harmony West where she noted that they areselling a little higher where the average price per square footcame in at $236.98. The single-story homes that sold, which were 11came in at $226.50 and the 6 two-story homes came in at$176.13.
Kristin then asked Jeanine how she was feeling about the realestate market. Jeanine answered that setting the expectation of theamount of time your home will be on the market is important. Alsosetting the price of your home correctly is essential. She saidreal estate is still selling and that things don’t sit still.
Saint Cloud FL Realtors Need To Set Proper ExpectationsFor Buyers and Sellers
Jeanine also said that she is seeing a lot more buyers in themarket than what would be considered normal at this time of year.Kristin asked Jeanine how she felt about sellers and theirexpectations. Jeanine said that they are still lagging in catchingup to the reality of the market.
Kristin commented on a question that Jeanine gets a lot and thatis “what’s wrong with that house, it has been on themarket for 90 days?” Jeanine said this past spring or summerthat would have been a good question but right now, it isn’tbecause we are back to a normal real estate market.
Jeanine said right now it is about educating the sellers andbuyers. She stated there is still a lot of equity in homes thatgrew over the last two years, but proper expectations need to beset. Both Jeanine and Kristin agreed that it is about helping homebuyers right now as their affordability has changed and is lower.They stated that sellers can help with either paying down the rateor helping with closing costs.
Stay tuned for the monthly market report where Jeanine andKristin will be going over the year-end real estate market reportand looking at 2022 in its totality.
We hope you enjoyed Jeanine and Kristin walking you through theSt Cloud FL real estate market report for November 2022. Our goalis to keep you in the know about the housing market and statisticshere in Saint Cloud, Florida.