Year-End Real Estate Report for Saint Cloud, Florida: What 2024 Tells Us About the Market
.png)
Welcome to another episode of Discover Saint Cloud, Florida! I’m Kristin Macari, joined by Jeanine Corcoran, broker for Corcoran Connect, a leading real estate company in Florida. Today, we’re diving into our year-end report for 2024 and analyzing what the numbers mean for the Saint Cloud real estate market.
Reflections on 2024
As we look back on 2024, it’s fascinating how the data tells a story that sometimes contrasts with how we felt throughout the year. The year brought surprises, not just in the trends but also in how steady some markets remained despite external factors like interest rates and inventory competition.
Here’s a breakdown of key Saint Cloud zip codes and their real estate performance for 2024:
34769: Downtown Charm
Market Highlights:
Homes Sold: 312 (258 single-story at $245.40/sq. ft., 54 two-story at $183.02/sq. ft.)
Comparison to 2023: Slight increase from 310 sales in 2023.
Price Trends: Year-over-year price per square foot increased by 0.62%.
Days on Market:
2023: 21 days to contract, 57 days to close.
2024: 36 days to contract, 69 days to close.
While the average days on market increased slightly, the steady number of sales highlights the area’s consistent demand.
34771: Busy and Competitive
Market Highlights:
Homes Sold: 927 (514 single-story at $248.54/sq. ft., 413 two-story at $204.56/sq. ft.)
Comparison to 2023: A decrease from 1,057 homes sold in 2023.
Price Trends: Year-over-year price per square foot rose by 1%.
Days on Market:
2023: 43 days to contract, 79 days to close.
2024: 56 days to contract, 97 days to close.
The competition from new construction remains fierce, with 62% of 2024 sales attributed to new builds. Resale homes face challenges competing against builder incentives like lower interest rates and paid closing costs.
34772: A Balanced Market
Market Highlights:
Homes Sold: 646 (426 single-story at $229.86/sq. ft., 220 two-story at $194.38/sq. ft.)
Comparison to 2023: Similar trends, with price per square foot rising 0.3% year-over-year.
Days on Market:
2023: 32 days to contract, 65 days to close.
2024: 44 days to contract, 81 days to close.
Resale homes account for nearly half of the transactions in this zip code, showing strong demand alongside new construction.
34773: Small But Mighty
Market Highlights:
Homes Sold: 270 (189 single-story at $237.35/sq. ft., 85 two-story at $183.23/sq. ft.)
Price Trends: An impressive 8.25% increase in average price per square foot, driven by new construction.
Days on Market:
2023: 34 days to contract, 74 days to close.
2024: 55 days to contract, 90 days to close.
New construction dominates this area, making up 76% of total sales in 2024. Resale sellers face significant competition here, but those who succeed benefit from the strong market.
Harmony: Community-Specific Insights
Harmony’s unique neighborhoods also revealed some notable trends:
Condos: Only five sold in 2024 at $165.08/sq. ft., marking a price decrease from the prior year.
Townhouses: New townhouses averaged $189.36/sq. ft., while resale townhouses in Ashley Park were $162.81/sq. ft.
Resale Homes:
29 resale homes sold in Harmony Main, with single-story homes averaging $205.38/sq. ft. and two-story homes $175.94/sq. ft.
Days to contract averaged 60 days, with 100 days to close.
The Lakes (55+ Community):
19 homes sold, all single-story, at an average of $214.31/sq. ft.
Homes took 129 days to contract and 165 days to close.
Custom Homes:
11 homes sold, with single-story homes averaging $198.50/sq. ft. and two-story homes $204.49/sq. ft.
Days to contract and close were higher at 114 and 156 days, respectively.
Insights for Sellers
The 2024 market emphasized the importance of strategic pricing and incentives. With new construction heavily influencing sales, resale sellers must:
Analyze the Competition: Compare your home to nearby new builds.
Offer Incentives: Rate buy-downs or closing cost contributions can make a significant difference.
Stay Flexible: Be prepared to adjust pricing based on market trends and buyer feedback.
Looking Ahead to 2025
What does 2025 hold for Saint Cloud real estate? While we’re not making bold predictions, interest rates and inventory competition will likely continue to shape the market. Sellers should focus on making their properties stand out while buyers can expect opportunities in a steady and balanced market.
If you’re thinking about buying or selling in Saint Cloud, visit Corcoran Connect’s website for the latest market updates and insights. Let’s navigate 2025 together!