This Is A Local Real Estate Market Report With Jeanine Corcoran, Broker of Corcoran Connect
This is part of our Discover Harmony Florida podcast series. We welcome you to the 2nd episode of Discover Harmony Florida.
Your host will be Jeanine Corcoran, broker of Corcoran Connect. Jeanine will be joined by Kristin Macari from Studio Nine 13, also a realtor with Corcoran Connect and owner of Studio Nine 13 a video production company. They are residents of Harmony, Florida. Jeanine has been a resident of Harmony since 2005.
Today, we wanted to talk about housing statistics. The Harmony Florida real estate market in 2020 was on fire and that has continued to be the case in 2021. It is even more insane this year. Jeanine mentioned that at the peak in 2021 around the March-April-May timeframe that one home she sold actually had 60 confirmed offers on it.
The sweet spot with homes for sale in Harmony is right between $300 - $350K. Jeanine made note that there were no condos or townhomes that sold in September which was interesting.
There are a few market segments in Harmony. We have Ashley Park which is condos and townhouses and then the rest of Harmony and to the East we have a 55 and older community called The Lakes. There is South Lake and East Lake.
In Harmony, We Have Diverse Groups Of Different People Of Different Ages
There is a house for everybody in this wonderful small town. Here are some interesting statistics when comparing 2020 to 2021. Last year the average price per square foot was $136.57 and this year it is $164.43. That is a significant increase from year to year.
Corcoran Connect had sold 18 single-family homes in September and 14 of the 18 sold in less than 7 days. Six of the homes sold were in cash, six were conventional and six were FHA/VA loans.
In the Lakes of Harmony which is on the East side of Harmony which is for 55 and older, there were a couple of homes that just sold under $300K. When you live in the Lakes, you have all the amenities. You have a Clubhouse, pool, activity room, tennis, pickleball, and more. So, if you are over 55 years old, you can still buy a house for under $300K, and if you are under 55 not so much.
Jeanine doesn’t foresee any homes selling for under $300K in the month of October in The Lakes when the report comes out next month. For the month of August in all of Osceola County for all single-family homes sold, the average price was $285K compared to this year at $358K.
The Harmony Real Estate Market Continues To Be Hot
Kristin asked Jeanine if she was expecting any changes in the local real estate market here in Harmony and Jeanine answered that in her opinion and that of experts, no changes at least for the next year. She continued that it does have to flatten out at some point, just not in the near future.
Jeanine does speak with her sister, real estate mogul and star of Shark Tank Barbara Corcoran often and they recently talked about the real estate market and Barbara felt as well that at least for the next year, the hot market would continue.
There is just no inventory and builders can’t build fast enough Jeanine stated. There is no new construction other than in The Lakes. They have a new community that just started construction called Enclave a gated community. The amazing thing with this new community is it is almost sold out and the first house isn’t even done yet.
Real Estate Inventory In Harmony Is Scarce
For those who are not aware we have in Harmony a CDD which is an added tax that pays for all of the amenities within the community. As a comparison, the CDD is similar to HOA fees with the lowest being around $62 a year for condos and townhomes and the highest being $200 a year for more custom homes.
We hope you enjoyed our local real estate market report with your host of Discover Harmony Florida, Jeanine Corcoran. We’re going to be doing these podcasts every week, covering different topics throughout the month. We'll keep you in the loop on different events that are coming up.