Real Estate Market Report For St. Cloud FL February 2023 Confirms Sales Have Slowed
Jeanine Corcoran and her co-host Kristin Macari present the 55th episode of the Discover St. Cloud Florida podcast. Listeners can expect an informative conversation about the current state of the St. Cloud FL real estate market.
Prepare yourself for an enlightening and informative episode as Jeanine, the broker for Corcoran Connect, and Kristin, the owner of Studio Nine 13, collaborate to discuss the latest developments in the real estate market in Saint Cloud, Florida. You can look forward to receiving expert insights and analysis during this engaging conversation.
Kristin said that they are going to be talking about what happened in February 2023 in the greater Saint Cloud Florida area. She said that they will kick off the market report with Saint Cloud zip code 34769.
Video Podcast Of Housing Market Statistics In Saint Cloud Florida
Jeanine stated that there was a total of 20 properties that were sold in February. There were 19 single-story homes that were sold at a price per square foot of $222. The two-story home that sold came in at $192 price per square foot. The overall average price per square foot was $220.56.
Kristin said that the overall average price per square foot compared to January 2023 is down 5.2%. She said January 2023 was at $232.57 and February came in at $220.56. Comparing February 2023 to February 2022, the market is still up over 8%. The days to contract were 25 and the days to close were 53.
What Does Days To Contract Mean?
Kristin explained the meaning of days to contract and days to close. She said the days to contract is the number of days that your home sits active on the market before going under contract. The days to close means the number of days from when you list your home to when you close. Kristin also noted that they use the median as it gives a better representation of what is happening in the market.
Kristin then asked Jeanine what we had going on in Saint Cloud zip code 34771. Jeanine replied and said that zip code 34771 is the busiest zip code and there were 40 homes that sold in February. There were 20 single-story homes that sold and 20 two-story homes that sold in February. The single-story homes that sold had a price per square foot of $222.36 and the two-story homes came in at $190.27. So, the overall price per square average was $206.32.
Kristin added that the monthly comparison of February 2023 versus January 2023 saw a decline of 6.1%. Last month, in January, the price per square foot was $219.74 and in February it was $206. When you look at year over year comparing February 2023 versus February 2022, the market is still up 2%. In February 2022 the overall average price per square foot was $202.43 and this February it was $206.32.
Homes Sold In St. Cloud Florida Zip Code 34772 In February 2023
Kristin continued with the days to contract which was 66 and the days to close was 94. To recap, she said, you’re looking at about 2 months to get a contract and 3 months to close on it.
Jeanine then reported on St. Cloud FL zip code 34772 homes sales. There were 42 homes that were sold in February. Thirty-five of the forty that were sold were single-story homes and the price per square foot was $218. The 7 two-story homes that sold had a price per square foot of $174.27. The overall price per square foot in zip code 34772 was $210.71.
Kristin said the month-over-month comparison for the overall price per square foot was down 3.8%. In January of 2023 the $218.99 and in February it came in at $210.71. In comparing February 2023 to February 2022, the market is still up 5% with the overall average price per square foot of $210.71 versus $200.96. She continued with the days to contract in zip code 34772 which was 72 and the days to close was 112.
Jeanine then shared the housing statistics for Saint Cloud FL zip code 34883. She said there were 11 homes that were sold. Eight of the eleven homes that were sold were single-story homes and had a price per square foot of $223.96. The three two-story homes that were sold had a price per square foot of $181.64. This brought an overall average of $212.42.
Saint Cloud Florida Vacant Land Sales During February 2023
Kristin reported on the month-over-month average price per square foot being down 4% from $221.26 to $212.42. Year over year, the market is still up almost 14%. Last February 2022 the overall average price per square foot was $186.55 and for February 2023 it is $212.42. The days to contract were 33 and the days to close were 51.
Vacant land sales were given by Jeanine next where she reported that only 7 parcels were sold in February. She said the largest sale went for $600K and the buyer paid in cash for just under an acre. The second largest parcel sold was for $200K and included 5 acres.
Lastly, Jeanine reported on the home sold in Harmony Florida. Jeanine said in Harmony main there were only two properties that were sold. One was a single story, and one was a two-story home. She said the single story was on Bracken Fern and that had a price per square foot of $171.39. There was a home on The Lakes that was sold and had a price per square foot of $194.98.
Harmony West had a total of 9 homes that sold. Of the 9 homes that sold, six of them were single-story homes that had a price per square foot of $223.38. The 3 two-story homes that were sold had a price per square foot of $186.03.
A Shift In The Real Estate Market Creates Caution In The 55 And Over Community
Kristin called out the fact that when there is any kind of a shift in the market that the 55 and over communities are the most cautious and she asked if that what Jeanine is seeing. Jeanine answered that what she is seeing in Harmony, The Lakes and Lake Nona is very slow right now. She continued and said typically the snowbirds come down in November, December, and January. It has just been a slow season and the 55 and over community are very cautious holding onto their money when there is a shift in the market.
We hope you enjoyed Jeanine and Kristin walking you through the real estate market report for St. Cloud FL February 2023. At our core, we are dedicated to providing you with the most recent trends, statistics, and progressions within the Saint Cloud, Florida housing market. Our objective is to ensure you remain knowledgeable and always informed.