Harmony FL Real Estate Transactions Report Show Low Activity In November
Jeanine is the broker for The Corcoran Connection and is joined by her co-host, Kristin Macari owner of Studio Nine 13. Welcome to the 7th episode of Discover Harmony Florida. The November 2021 housing statistics are out, and we will cover the Harmony FL real estate transactions. Source video found here.
There were 8 properties that sold so it wasn’t a busy month. There were 4 resales and 2 custom home sales. Not a lot going on now and there is still low inventory.
Kristin asked Jeanine how the real estate transactions compare year to year from November 2020 to November 2021? November 2021 saw 8 homes sold versus 13 sold last year. And, out of the 13 homes sold in November 2020, 10 were new construction. There was only one new construction home sold in Harmony West in November 2021.
Looking back at November 2021 housing statistics, the lowest priced home that sold was in Harmony West, a new build, for $348K. The highest-priced home sold for $709K. It was a custom pool home on 3325 Schoolhouse Rd. It had 4 bedrooms, 3 full bathrooms, and two half bathrooms with 3,840 sq. ft. The price per square foot was $184.64 on that custom pool home.
Harmony Florida Customer Pool Home Was The Highest Priced Property To Sell In November
Jeanine said overall the price per square foot was $170.68. She continued that customers use the price per square foot all the time. Kristin said, yes, they use it as a type of measuring stick for the market. She continued that it is a statistic a realtor should know and have prepared for a listing appointment but that it is not the end all be all.
Kristin pointed out that there were two homes sold in November 2021 on Butterfly and they had different prices per square foot. The homes were of different sizes. One had a price per sq. ft. of $183 versus $156. She had the opportunity to see both homes and the overall condition of the properties and the upgrades. The upgrades on the home that had the higher price per square foot justified the difference between the two.
Kristin said that the price per square foot is a great number, a good statistic to know but it is not the entire story. She said that each home should be valued individually. Jeanine added that the lower the square footage of the home, the higher the price per square foot it sells for. When it comes to the larger homes and the massive total square footage, the price per sq. ft. drops. That’s just the way it is in the market.
The Price Per Square Foot In Harmony Went Up 6.3% From October To November 2021
Jeanine continued that when we look at resales using the October 2021 to November 2021 time frame, the price per sq. ft. went up about $10 per sq. ft. In October 2021, the price per sq. ft. was $157, and this past month it was $167.
Kristin said she feels the sweet spot in the Harmony real estate market is resales. There is just no inventory in the market and these homes are highly sought after. It is a fantastic time to sell. When resales do come on the market they tend to go very quickly. A $10 jump in one month of the price per square foot is impressive.
Looking at the price per square foot for November 2020 it was $148.91 and for November 2021 it was $170.68 which is a 15% increase. So, a 15% increase in one year in Harmony, Florida. It was also a 15% increase in the sale price of homes in Harmony going from $148K to $167K.
At The Lakes in Harmony, there was a 13% increase from $149.56 to $171.75 of the price per square foot. Harmony West had the biggest increase year over year for November, a 25% increase. Kristin pointed out that if you look at the numbers for The Lakes in Harmony in November 2020 there were 8 builder sales and November 2021 had just one property sold in total, and it was a resale.
The Holidays Represent An Expected Slow Down In Harmony FL Homes Sold
Jeanine added that what we are seeing now in the market is a slow down because of the holidays. People don’t like to sell their homes during the holidays. However, the 55 and older community is still hot because of the snowbirds.
Jeanine stated that in January of 2022 the hot market will continue so if you are ready to sell your home, we need inventory because builders can’t keep up with us. Kristin added that Harmony is such a desirable area and if you are searching for an ideal location, give The Corcoran Connection a call.
Jeanine is very well versed in Harmony as she is a resident herself and knows all the different types of homes and areas and also can help you get the most out of your house. She added that no condos and no townhomes were sold in November for the second month in a row.
We hope you enjoyed this episode covering Harmony FL real estate transactions for November 2021. The Corcoran Connection wants to keep all existing and potential residents in Harmony up to date with the housing market statistics.