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St. Cloud FL Real Estate Market Report For June 2022

St. Cloud FL Real Estate Market Report For June 2022

St. Cloud FL Real Estate Market Report For June 2022 By Jeanine Corcoran, Broker of Corcoran Connect

Jeanine and Kristin discuss what happened in the St. Cloud real estate market in June 2022. Welcome to the 26th episode of Discover St. Cloud Florida. Kristin started off this month’s real estate market recap by asking Jeanine what happened in St. Cloud zip code 34769?

Jeanine said there were 47 homes that sold. Forty-two of those homes were single stories and 5 were two stories. The one-story homes that sold were at $240 price per square foot versus last month when that number was $233.

The two-story homes were at $215 price per square foot whereas last month that number was $190 a square foot. In May there were 47 homes that sold which equaled the total in June 2022.

Kristin then asked Jeanine to comment on what happened in St. Cloud zip code 34771. Jeanine replied that this is the busiest zip code right on Narcoossee Road by her office. Kristin said in June of 2022 there were 90 properties sold. The average price per square foot was $225.92. She said the one-story homes had a price per square foot of $242 and the two-story homes came in at $193.

Kristin then asked Jeanine to compare these numbers to last month in May 2022. Jeanine said in May 102 properties were sold. She said the single-story homes had a price per square foot of $237 in May versus $242 in June. Two-story homes in May had a price per square foot of $189 versus $193 in June.

St. Cloud Florida Sales In Zip Code 34772

Jeanine then moved onto St. Cloud zip code 34772 which saw 70 properties sold at an average price per square foot of $219. Fifty-four one-story homes were sold in June at $234 price per square foot. Sixteen two-story homes were sold and the price per square foot was $167.

Jeanine stated in comparison to the single-story homes, May’s price per square foot was $222 versus $234 in June. Regarding two-story homes price per square foot in May was $186 versus $167 in June so a little bit of a dip there.

Kristin then moved onto St. Cloud zip code 34773 which represents Harmony Florida. In Harmony and Harmony West there were a total of 25 sales in June 2022. The average price per square foot was $202.52. The one-story homes came in at $212 price per square foot versus the two-story homes which came in at $189.

Jeanine added that in May 2022 as a comparison there were 20 homes sold versus the 25 in June. The single-story homes came in at $217 a square foot versus $212 in June. The two-story homes came in at $165 versus $189 in June.

Vacant Land Sales In St. Cloud FL For June 2022

Kristin then moved on to vacant land for sale in St. Cloud Florida. She said there were 17 parcels that sold in June. The most expensive parcel went for $13M and included 9.8 acres of land which was on Harmony Square drive. Kristin stated there was also a sale for a $1.6M parcel sold on Harmony Square drive as well.

Jeanine stated out of the 17 parcels sold, 15 were cash buyers and the other two were seller financing. Kristin added that vacant land is going quickly if you can get your hand on a piece of land.

Jeanine commented that homes are staying on the market longer. She said that we have transitioned from where the old market where properties were selling so fast to the new market where they are staying on the market longer. Jeanine emphasized that it is not a bad market at all.

Kristin added that this new market is in fact the traditional market and Jeanine agreed. They both said that the status now is a normal market. It is not a crash in the market. Jeanine added that the interest rates now at 5-6% are where the market was pre-Covid.

The interest rates are not high at all when you compare rates historically. Kristin added that the people that were in the market to buy before at a lower interest rate have less purchasing power now and that is where that feeling of not getting as much house as they could have 6 months ago.

Home Sellers And Home Builders Are Now Helping With Closing Costs

Jeanine mentioned that there are some good programs available now to help offset that. She said there are things like the Hero’s program and others that can help first-time home buyers who are feeling like they won’t be able to buy a home.

Sellers and builders are now helping with closing costs which is a shirt Jeanine said. She added that builders are giving realtor bonuses, and helping with buyer closing costs, and now regular sellers are doing the same thing.

Kristin added that for two years, those things were gone, and it is nice to have them back. It represents a healthy market. Jeanine offered this, how about instead of getting money towards closing costs, ask the seller to buy down your rate.

Kristin stated that what she is seeing is real estate agents are busier now and listings are increasing and that is definitely helping to correct the inventory problem in the market. She continued that for a long time there was no inventory and that drove the prices up.

Kristin asked Jeanine what she is seeing happening in the real estate market? Jeanine stated that things have slowed down but that slow down happened from a market that was on fire. She continued that it has returned to a traditional market and that it is still healthy.

Fall Is A Perfect Time To Buy A Home In Saint Cloud FL

Jeanine said that once you get to September the market slows down and then slows down even more through October and November. She continued that when sellers list their homes in November and December there is a reason for it and that is a great time to buy. Nobody wants to move during the holidays she said.

We hope you enjoyed Jeanine and Kristin walking you through the St. Cloud FL real estate market report for June 2022. Our goal is to keep you in the know about the housing market and statistics here in Saint Cloud which includes Harmony, Florida. View the video source.

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