St. Cloud Real Estate Transactions Report Shows Interesting Metrics In November
Jeanine Corcoran, the broker for The Corcoran Connection gives a report on St. Cloud FL real estate transactions for November 2021. She will be joined by her co-host, Kristin Macari owner of Studio Nine 13. Welcome to the 7th episode of Discover St. Cloud Florida.
Kristin asked Jeanine what happened in the St. Cloud real estate market in November 2021. Jeanine replied that she decided to break down the real estate market report by zip code. She said there are 4 zip codes and thought it would be easier to separate the real estate transactions in each of those areas. The source video can be found here.
Jeanine started with the St. Cloud FL zip code 34769 where there were 39 homes that sold in November. The average price per sq. ft. for those 39 homes sold was $193.49 overall. The lowest house that sold was $299,900 and that was its listing price. That house was on 1711 E. Clinton Drive which is in Lorraine Estates.
Saint Cloud FL Home Values Continue To Increase Versus The Prior Year
In comparison, the lowest priced home in St. Cloud FL last year in November in the 34769 zip code sold for $150K. The price per sq. ft. in 2020 was $168.80. That presents a 15% increase year over year for November 2020 versus November 2021.
The highest-priced St. Cloud home in zip code 34769 was listed at $385K and sold for $395K. This home is in Heritage Place at 520 Cody Allen Court. The total square footage was 1,842 and it sold for cash. It is a 4-bedroom, 2 bathroom that was built in 2016. That equates to $214 per sq. ft.
Housing Market Statistics In Saint Cloud Show Hefty Increases In The Price Per Square Foot Metric
Now, let’s move to zip code 34771. There were 57 homes that solid in this zip code in November 2021. The average price per sq. ft. was $207.69 for the homes that sold. Last year in November the price per sq. ft. was $147.88 which is a 40% increase. Important to note that there is a lot of new construction in zip code 34771 which adds to these increases.
The lowest-priced home was listed for $224,900 and sold for $213K. It was an FHA loan. The address is 1610 Trout Blvd. and had 930 sq. ft. of living space. It was a 3-bedroom, 1 full bathroom, and a half bathroom and was built in 1960. The price per sq. ft. was $229.00.
The highest-priced home that sold was listed for $1.47M and sold for $1.4M. It was a 4 bedroom, 3.5 bathrooms and a cash sale that was built in 2004. The price per sq. ft. was $280. It is a lakefront property which obviously contributed to the higher price.
New Construction Homes In St. Cloud FL Contributing To Increases In Real Estate Transactions
Moving now to the 34772 zip code where there has been a lot of new construction going on as well. There were 53 homes that sold in November 2021. The average price per sq. ft. for the homes that sold was $198.67. In the month of November 2020, there were also 53 homes sold. And, last year's average price per sq. ft. for November was $149.59. That is a 33% increase.
The lowest-priced home that sold this past November was listed for $279K and sold for $269K. The lowest-priced home that sold in November 2020 was $235K. The home had 1,280 sq. ft. and had 3 bedrooms and 2 bathrooms and was built in 1987. It was in the St. Cloud Manor Village and the price per sq. ft. was $210 and was a cash sale.
The highest-priced home that sold in November 2021 was listed at $2.215M and sold for $2M. The highest-priced home that sold in November 2020 went for $900K. The home that sold for $2.0M was on 2680 Cherokee Rd and had 16.2 acres. The home has 4,494 sq. ft. of living space. It has 5 bedrooms and 4.5 bathrooms and was built in 1994. The price per square foot was $445.
Many Variables Go Into The Price Per Square Foot Metric – Buyer Beware
Kristin added that the homes in Saint Cloud are a nice mix of new construction, recent construction, and older homes including some historical homes. We mention the price per sq. ft. a lot because customers use it but remember there is so much that goes into arriving at that number and every home is different.
Jeanine added that all the metrics that are used online when it comes to listings are computer-generated. There are so many variables that go into pricing a home that is not caught using this model. For example, you may have 10 acres and your neighbor has ¾ of an acre, the computer compares the houses and gives a price per sq. ft. So, this metric is not accurate.
A home with less square footage can sell for more than a large home simply because of the acreage and upgrades done in the home that a computer would never catch. Therefore, it is essential to have a qualified appraiser come out to your home, so every detail is accounted for, and your home is priced properly. Otherwise, if it is not done correctly, the home can sit on the market for a while with no movement and you end up being frustrated.
St. Cloud FL Real Estate Agency Can Help You Price Your Properly To Avoid Sitting On The Market
Jeanine and her entire team of real estate agents are skilled in helping to properly price your home, so it sells in the shortest amount of time. Don’t hesitate to give The Corcoran Connection a call, they would be happy to help you in this area.
We hope you enjoyed this episode covering the St. Cloud FL real estate transactions report for November 2021. The Corcoran Connection wants to keep all existing and potential residents in St. Cloud up to date with the housing market news and statistics.