St. Cloud FL Real Estate Market Report For October 2021
St. Cloud FL Real Estate Market Report For October 2021Presented By Jeanine Corcoran, Broker of CorcoranConnect
Kristin Macari owner of Studio Nine 13 joins Jeanine as herco-host. Welcome to the 5th episode of Discover St. Cloud Florida.Today we are going to be sharing housing statistics for the local real estate marketreport for Saint Cloud, FL for the month of October 2021. View thesource video or watch below.
Jeanine started by sharing that there were 167 single-familyhomes sold in October. Of the 167 homes sold, 85 of them wereconventional loans. Forty-one of the homes sold in St. Cloud werebought in cash. FHA and VA loans represented 30 of the 167 homessold. Owner financing represented 11 of the 167 homes sold.
For Osceola County Florida there were 652 single-familyhomes sold in October 2021 versus 621 last year. However, themedian home price in October 2021 is $379,330 versus $285,000 lastyear, a 33% increase. The inventory supply last year in October2020 was 2.5 months and this year it is 1.1 months.
What does “month’s supply” mean? It means thatif there were no more houses left to put on the market and we onlyhad left to sell what was listed already, it would only take 1.1months to sell all of them. And, to put it in perspective, ahealthy real estate market would have about a 6-month supply ofhomes.
Land For Sale In Saint Cloud Florida – A GoodInvestment?
Kristin asked Jeanine what other statistics she had to share onthe housing market in St. Cloud, FL. Let’s look at“land”. Jeanine thinks land is a scarcity. There isonly so much land that you have and sooner or later it is all builtupon. She thinks land is a good investment. There were 16 parcelsof land sold in October.
The highest parcel of land sold in St. Cloud was for $1.6Mcovering just over 24 acres and the lowest was for $5K for landthat is unbuildable. The lowest-priced single-family home sold for$150K on Missouri Ave. Conversely, the highest-priced single-familyhome sold for $800K.
Kristin made the point that realtors still play a key role inhelping people buy and sell homes in today’s market. If youare interested in finding out what your house is worth, feel freeto give us a call at Corcoran Connect. We would be happy to helpyou out.
Jeanine often plays the role of an advisor with people atvarious places who want to run a certain situation by her and gether take on it. She is happy to do so.
There was one woman who Jeanine was speaking with, and she wasthinking of paying for a home in cash. She had $300K to invest.Now, Jeanine is not a financial advisor, and she told the womanthis, however, she asked Jeanine if she should pay cash for thishome?
Is Paying Cash For A Home In St. Cloud FL A GoodIdea?
Jeanine said if it were my money, this is what I would consider.The money to borrow is so low right now. If she took $60K of the$300K and put that down on the home and financed the rest at lessthan 3%, how much money could the $240K make for you in anotherinvestment vehicle? That’s the big question.
If you are looking for an honest opinion on what your house isworth or if you are looking to potentially do some upgrades in yourhome, it’s worth a phone call to Jeanine. She warns people to becareful what upgrades you put money into.
Putting money into worn and stained carpet is one thing if youwant to sell your home now but doing a complete kitchen renovationthinking you are going to get that money back when you sell is notsmart. Jeanine can help you make the best decision based on yoursituation.
We hope you enjoyed Jeanine and Kristin walking you through theSt. Cloud FL real estate market report for October 2021. Our goalis to keep you in the know with the housing market here in SaintCloud.