St. Cloud FL Real Estate Market Overview For 2022 A Banner Year In Our Local Market
In this edition of the Discover St. Cloud Florida podcast, Jeanine Corcoran of Corcoran Connect and Kristin Macari of Studio Nine 13 will provide a St. Cloud FL real estate market overview for 2022. As experts in the field, Jeanine and Kristin will be discussing the latest trends, developments, and market performance in this episode of the podcast. Tune in to episode 49 and stay up to date on the latest happenings in the St. Cloud FL real estate market.
Kristin emphasized that the data being discussed in this podcast is unique in that it utilizes median figures instead of the commonly used average numbers. This approach eliminates any outliers that can skew the results. Jeanine added that the comparison of January and June in the podcast is being made against December 2022.
Video Podcast Covering The Saint Cloud FL Real Estate Market Comparisons From Beginning, Middle And End Of 2022
Jeanine started reporting on zip code 34769. The days to contract for December 2022 were 23 and the days to close were 51. There were 22 homes that sold in December and the median price per square foot was $225.48.
Kristin stated they were comparing the numbers from December 2002 to the beginning of the year in January 2022. Jeanine said in January, it was taking 14 days to contact versus 23 days in December. It was taking 53 days to close in December versus 51 days in January. The median price per square foot was $196.42. There were 32 homes that sold in January versus 23 in December.
Real Estate Market Transactions Comparison For St. Cloud FL Zip Code 34769
Kristin said if you look right now in St. Cloud FL zip code 34769 comparing December to January 2022 it took 1.6 times longer to sell a home and get it under contract. So, in December 2022 it is taking longer to sell a house compared to the beginning of the year last year. She also said the median price per square foot is still up 14.8% from January.
Next, Jeanine and Kristin went to the middle of 2022 and compared where the St. Cloud real estate market is now versus the middle of 2022. Jeanine said in June 2022, the number of days to contract was 7 and the number of days to close was 39. The median price per square foot was $246.64 and the number of homes that sold in June was 47.
Kristin added that she thought that was unusual because that was the greatest number of homes sold in a month for zip code 34769 for 2022 and by summer it felt like things had calmed down.
Kristin said if you look at the numbers from June to December of 2022 it took about 3.3 times as long to sell a home. Homes were only on the market for 7 days and now it is taking 23 days. The sold price per square foot in June was down from $246.64 to $225.48 in December which represents a decrease of 8.6% in zip code 34769.
Real Estate Housing Statistics In Saint Cloud Zip Code 34771
Jeanine then moved to zip code 34771 calling it the most active zip code in St. Cloud, Florida. Kristin reminded everyone that the stats they are going to share are void of new construction. Jeanine said the days to contract were 45 for zip code 34771 in December 2022 and the number of days to close was 63. The number of homes sold in December was 27 and the median price per square foot was $223.75. She said that is a low number of homes sold because all the new builds were removed.
Jeanine then gave the numbers for January 2022 for zip code 34771. The number of days to contact was 15 and the number of days to close was 62. There were 44 homes sold in January and the price per square foot was $195.83.
Kristin added that if you look at January through December 2022, it is taking about 3 times as well to sell a home now versus the beginning of last year. The median price per square foot is up 14.3%, from $195.83 to $223.75 representing a healthy gain there.
Jeanine then reported on mid-year in June 2022 for zip code 34771. The number of days to contract was 8 and 44 days to close. The number of homes sold was 45 and the median price per square foot was $233.71.
June 2022 Was A Hot Real Estate Market In Saint Cloud Florida
Kristin said June seemed to be a hot month in real estate in 2022. Right now it is taking you 5.5 times longer than in June to close on a home. The days to contract are 5.5 times longer now than it was in June of 2022. The sold price per square foot is down 4.3% going from $233.71 to $223.75.
Jeanine then moved to St. Cloud Florida zip code 34772. The number of days to contract in December 2022 was 39 and the number of days to close was 75. There were 31 homes sold in December and the sold price per square foot was $207.10.
Then, looking back at January 2022 the number of days to contract was 20 and the number of days to close was 50. The number of homes sold was 26 and the sold price per square foot was $190.27. Kristin pointed out that the number of homes sold is similar with 26 sold in January and 31 sold in December. She also said it is taking twice as long to get under contract but your overall price per square foot is still up 8.8%.
In June the number of days to contract was 7 and the number of days to close was 42. The number of homes sold was 53 and the price per square foot was $217.07.
How Long Will It Take To Sell My Home In Saint Cloud FL Now?
Kristin said if you compare June to December 2022, you are looking at 5.5 times longer to get a home under contract going from 7 days to 39 days. There was a decrease of 4.6% in the sold price per square foot. The price per square foot was $217.07 in June and now is $207.10 in December.
Jeanine commented on what she tells people who are looking to sell their homes now and they ask her how long it will take to sell. She tells them at least 60 days. It doesn’t mean there couldn’t be an offer within the first week. She likes to set proper expectations upfront so there isn’t disappointment and frustration.
Jeanine then moved to Saint Cloud zip code 34773. The number of days to contract for December 2022 was 22 and the number of days to close was 100. The number of homes sold was 3 and the sold price per square foot was $209.22.
She then compared December’s numbers to December 2022. The number of days to contract is 5 and the number of days to close is 47. The number of homes sold was 8 and the sold price per square foot was $176.36.
Kristin stated that it is taking 6.5 times as long to sell a home in December 2002 versus what it did in January 2022. The sold price per square foot was up 18.6% from January to December.
Identifying The Trends Happening In The St. Cloud FL Real Estate Market
Jeanine said in June of 2022 we had 10 days to contract and 47 days to close. The number of homes sold was 13 and the sold price per square foot was $194.01. Kristin said it is taking 3 times as long in December to get a home under contract versus what it was in June. The price per square foot from June to December is up 7.8%. Every other zip code was down in this comparison.
Kristin said the focus of this episode was to identify the trends happening in the Saint Cloud Florida real estate market. It was also to talk about what Jeanine sees happening in 2023 and what the experts are saying.
Jeanine said she just read an article by Florida Realtors, and they said they see this market that we are experiencing now continuing through 2023. They don’t expect the prices to come down. The prices might even out a little bit, but they do expect it to be a healthy strong market. Jeanine added that home prices will remain high, but growth will be slower.
Jeanine said she sees builders offering crazy incentives right now. She reminded people not to go to builders without representation. She continues to tell home sellers that they didn’t lose all the equity they gained over the past two years. Yes, it is taking longer to sell but the equity is still there.
Local St. Cloud Florida Real Estate Agents Are Seeing An Increase In Active Home Buyers
Jeanine just had a team meeting with her real estate agents, and they all agreed that over the last 10-14 days the floodgates have opened, home buyers are out looking, and everyone is getting busy. She added if the Fed doesn’t raise the interest rates, she anticipates a strong year in real estate in 2023.
We hope you enjoyed Jeanine and Kristin walking you through the St. Cloud FL real estate market overview for 2022. We will continue to cover the trends, and how we see 2023 playing out in the real estate market.