Real Estate Market Report For St. Cloud FL January 2023 Shows Longer Days To Contract
Jeanine Corcoran and her co-host Kristin Macari will be providing the market overview. This will be the 53rd installment of the Discover St. Cloud Florida podcast. Listeners will be treated to an insightful discussion on the state of the real estate market in St. Cloud, FL.
Jeanine and Kristin will be joining forces to shed light on the latest developments in the industry. Get ready for an engaging and informative episode filled with expert insights and analysis.
Kristin asked Jeanine what happened in January 2023 in our real estate market report. Jeanine answered that in the Saint Cloud zip code 34769 which covers most of the downtown area, there were 13 homes that were sold. Twelve of the homes sold were single-story homes and only one was a two-story home.
Video Podcast Covering The Saint Cloud FL Real Estate Market For January 2023
The single-story homes came in at $239.76 price per square foot and the two-story home that sold came in at $146.38. Kristin added that the month-over-month price per square foot was up 5.9% and year over year it is still up 14.4%. These numbers are compared to January 2022. The days to contract were 51 and the days to close were 80.
The numbers for St. Cloud zip code 34771 showed there was a total of 62 homes that sold in January. There were 34 one-story homes that sold at an average price per square foot of $239.19 and the 28 two-story homes had a price per square foot of $191.10.
Homes Sold In Saint Cloud Florida Zip Code 34772 For January 2023
Kristin continued with the month-over-month numbers which are up 2.9% and year over year is up 9.7%. Again, these numbers compare the price per square foot numbers for January 2023 to January of 2022. The days to contract were 84 and the days to close were 118. These numbers excluded new builds.
Jeanine then moved to Saint Cloud zip code 34772. There were 34 homes that sold with 25 being single-story homes and 9 that were two-story homes. The single-story homes had a price per square foot of $232.34 and the two-story homes came in at $181.37.
Kristin said month over month compared to last year in January the price per square foot is up 1.6% and year over year there was no change. The days to contract are 47 and the days to close were 83.
Jeanine, then moved to St. Cloud zip code 34773 where she said there is not a lot going on at all. There was a total of 7 homes that were sold in January. She said they don’t include townhomes or condos in these numbers. There were six single-story homes and one two-story home that was sold. The single stories came in with a price per square foot of $221.26 and the single two-story home came in at $262.59.
St. Cloud Florida Vacant Land Sales for January 2023
Kristin added the month-over-month averages compared to last January in 2022. The price per square foot is up 24% this month versus January of last year. Year-over-year numbers for price per square foot are up 4.4%. She said the days to contract were 18 and the days to close were 76.
Jeanine then moved onto vacant land sales in St. Cloud FL. She said there were only 7 sales in January and there were no big developer purchases at all. Jeanine said 6 of the 7 sales were in cash. The one exception was a sale with private lending. The largest sale for 2.7 acres was on Rambler and was listed and sold for $235K. Jeanine said there were no big purchases and Kristin wondered if there were any big purchases left.
Jeanine then reported on Harmony FL homes that were sold in January 2023. She said Harmony Main only had two sales. There was one sale in Ashley Park which was a two-bedroom condo and there was one sold in The Enclave where Kristin lives.
The condo that was sold in Ashley Park had a price per square foot of $178.57 and the home in The Enclave had an average price per square foot of $220.36. Jeanine continued and said there were 5 homes sold in Harmony West. All 5 homes that sold were single-story homes and came in at an average price per square foot of $213.18.
Saint Cloud FL Homes Taking Longer To Go Under Contract
Jeanine clarified that the days to close are from the time a home goes on the market to when it closes. Kristin added that things are taking a little bit longer to go under contract. Jeanine agreed and said she has been telling sellers to expect 60 days. However, she said there are cases in today’s market where it can happen within the first week or two. She noted that she had two of her sellers receive multiple offers recently.
Jeanine added that the 55 and older community is very slow right now and that is different from what we have been experiencing. Kristin commented that with the snowbirds this would be their time now so that is unusual. Jeanine said that she is in that age group and believes they are being cautious right now. She said the current interest rates and inflation could be what is bothering them.
Kristin clarified that when she reports the number of days to contract and days to close, she only considers resales and excludes new builds. If we included new builds, it would skew the numbers greatly and not reflect the true market conditions.
Jeanine said to sellers that your homes are sitting on the market a little bit longer and we are also seeing where sellers are helping buyers with closing costs or buying down the rate. She said that is just the market we are in right now.
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We hope you enjoyed Jeanine and Kristin walking you through the real estate market report for St. Cloud FL January 2023. Our mission is to keep you informed and up to date with all the latest trends, statistics, and developments in the housing market of Saint Cloud, Florida.