St Cloud FL Real Estate Market Report For November 2022 Confirms We Are In A Normal Market
Jeanine Corcoran, the broker for Corcoran Connect is joined by her co-host Kristin Macari, the owner of Studio Nine 13. They will be presenting the housing market statistics in the Saint Cloud Florida real estate market during the 44th episode of the Discover St. Cloud Florida podcast.
Kristin started by asking Jeanine what happened in the real estate market in St. Cloud Florida for November starting with zip code 34769. Jeanine said there was a total of 21 properties sold with an average price per square foot of $225.75. Seventeen of the twenty-one homes sold were single-story homes at $226.24 per sq. ft. and the four two-story homes that sold came in at $223.67.
Video Podcast Regarding The Status Of The Saint Cloud Florida Housing Market
Kristin added that the month-over-month number of $225.75 average price per sq. ft. was up 3.1% and year over year the market is up 16.7%. The average days to contract is 43. This means that it takes on average 43 days to get a contract that sticks. The days to close came in at 75. These numbers are up from the previous month by about 10 days each respectively.
Kristin asked Jeanine if these numbers are typical for this time of year. Jeanine said yes, from September through December things are slower. Kristin then asked Jeanine about the Saint Cloud zip code 34771.
Saint Cloud FL Zip Code 34771 Had The Most Homes Sold In November 2022
Jeanine stated that as usual zip code 34771 had the most sales with 71 properties sold in November. Of the 71 homes sold in November, 46 were new construction homes. She said sales were split down the middle as 35 of the properties sold were single-story at $243.70 price per square foot. The remaining 36 homes sold were two-story homes at $184.52.
Kristin stated that the overall month-over-month averages are down 2.4% on the price per square foot. The year-over-year numbers still have the market up by 3.4%. The average days to contract is 55 and the average days to close is 89. So, the days to contract is 20 days longer than it was last month.
Jeanine clarified that the days to contract are from the moment it is listed until there is a contract and days to close are from the moment it is listed until it closes.
Jeanine then moved to Saint Cloud zip code 34772 where there were 39 properties sold, 29 were single-story homes and 10 were two-story homes. The price per square foot of $225.36 was for the single stories and $202.54 for the two-story homes sold.
Kristin added that the overall average price per sq. ft. was $222.48 which is up 4.6% month over month and year over year is up 12.3%. The average days to contract for zip code 34772 was 47 and 95 days to close.
19 Homes Were Sold In St. Cloud Florida Zip Code 34773
For St. Cloud Florida zip code 34773 there were 19 homes that sold Jeanine said. Thirteen of the nineteen were single-story homes at an average price per square foot of $223.54 whereas the 6 two-story homes came in at $176.13 price per sq. ft.
Kristin stated that the overall average month-over-month price per square foot was $208.57 which is down 2.6% and year over year the market is still up 23.6%. She continued with the average days to contract which was 84 and the average days to close was 110.
Kristin went on to report that they combined all Saint Cloud FL zip codes, 34769, 34771, 34772, and 34773 and the average days to contract was 51 and the average days to close is 88. What this means is for example if you needed to be somewhere by June of 2023, you would need to list your home by March to be sure you make it.
Jeanine and Kristin touched on how your home needs to be priced correctly if your goal is to sell it quickly. Jeanine said homes that are priced correctly will sell quickly. Homes that are priced too high will sit on the market longer. This is definitely a solid reason to have a good realtor by your side.
November 2022 Vacant Land Sales In St. Cloud Florida
Jeanine then moved to vacant land sales for November. She said there were only 5 parcels that were sold last month. The highest-priced parcel was listed at $1.3M and ended up selling for $1.05M which represented 10 acres.
Jeanine then reported on the homes sold in Harmony Florida specifically. She likes to break them down by section. The average price per square foot for the 17 homes that sold in November was $208.72. The average price per sq. ft. in Ashley Park, which represents condos and townhouses, was $167.64. There was only one resale which came in at $214.37 price per sq. ft. There was one home sold in The Enclave which came in at $167.56 price per sq. ft. and in The Lakes, the average price per sq. ft. was $182.75.
She then reported on Harmony West where she noted that they are selling a little higher where the average price per square foot came in at $236.98. The single-story homes that sold, which were 11 came in at $226.50 and the 6 two-story homes came in at $176.13.
Kristin then asked Jeanine how she was feeling about the real estate market. Jeanine answered that setting the expectation of the amount of time your home will be on the market is important. Also setting the price of your home correctly is essential. She said real estate is still selling and that things don’t sit still.
Saint Cloud FL Realtors Need To Set Proper Expectations For Buyers and Sellers
Jeanine also said that she is seeing a lot more buyers in the market than what would be considered normal at this time of year. Kristin asked Jeanine how she felt about sellers and their expectations. Jeanine said that they are still lagging in catching up to the reality of the market.
Kristin commented on a question that Jeanine gets a lot and that is “what’s wrong with that house, it has been on the market for 90 days?” Jeanine said this past spring or summer that would have been a good question but right now, it isn’t because we are back to a normal real estate market.
Jeanine said right now it is about educating the sellers and buyers. She stated there is still a lot of equity in homes that grew over the last two years, but proper expectations need to be set. Both Jeanine and Kristin agreed that it is about helping home buyers right now as their affordability has changed and is lower. They stated that sellers can help with either paying down the rate or helping with closing costs.
Stay tuned for the monthly market report where Jeanine and Kristin will be going over the year-end real estate market report and looking at 2022 in its totality.
We hope you enjoyed Jeanine and Kristin walking you through the St Cloud FL real estate market report for November 2022. Our goal is to keep you in the know about the housing market and statistics here in Saint Cloud, Florida.