Housing market statistics for Harmony FL May 2022. Jeanine Corcoran broker for The Corcoran Connection a real estate company presents the housing market statistics for Harmony. Jeanine is joined by Kristin Macari, her co-host and owner of Studio Nine 13. Welcome to the 23rd episode of Discover Harmony Florida.
Kristin asked Jeanine what happened in the Harmony Florida housing market in May 2022? Jeanine said there were 24 sales last month in May. Kristin stated that was quite a jump because in April there were only 13 homes sold in Harmony.
She continued that the inventory crisis is starting to even out which is nice for all the buyers looking to purchase homes. Jeanine said that it seems like things are flattening out a bit and Kristin agreed.
Ashley Park which represents the townhomes and condominiums had 3 properties sold in May Jeanine reported. The price per square foot was $156.60 which is down from last month. Kristin pointed out that there was only one property sold in April and one property doesn’t make a market hence the reason for the variance.
Jeanine called out that there were only 5 cash sales in May left is down from prior months. She said there were more VA and FHA loans which are good and of course some conventional as well. She stated that having fewer cash sales means fewer investors and more homebuyers in the market which is a positive. Jeanine said the investors have been out and to see only 5 cash sales, there is definitely a shift happening.
As far as resales, there were 4 properties sold in May versus the 2 in April. The price per square foot was $190.37 whereas last month it was $193.17. Kristin said this indicator is yet another sign that as Jeanine said, things are leveling out in the market. Jeanine added that just because the market is leveling off doesn’t mean the market is crashing. It is still very healthy, and people have a lot of equity in their homes.
There were two custom homes solid in Harmony in the month of May Jeanine said and both were one-story homes. The price per square foot was $202.91. There were no custom homes sold in April so there is nothing to compare month over month.
Kristin reported on the sales in The Lakes for May. There were 5 properties sold in April and only 2 in the month of May. The price per square foot was $242.13 for May.
Jeanine said one property was sold in The Enclave at Harmony in May. Kristin quickly replied that is simply not true. Home sales in The Enclave at Harmony are taking forever to update by the county which makes it hard to report accurate numbers. For the one home that was reported as sold, the price per square foot was $247.00 which was up quite a bit from the April numbers.
Jeanine said if you are looking at the price per square foot overall of everything that has sold including Harmony West which will be covered below, The Enclave at Harmony has the highest price per square foot followed by The Lakes.
Jeanine said there were 12 homes sold in Harmony West in May and just one of them was a two-story home. The price per square foot for Harmony West was $208.21. As a comparison, the two-story home that sold had a price per square foot of $160.51 which is well below the average.
We had 17 single-story homes that sold in May, not including townhomes or condominiums, and the average price per square foot was $219 compared to 4 two-story homes that sold where their average price per square foot was $168.
Kristin said that is a big difference in the price per square foot category. She did add that for one-story homes they tend to be smaller because you can only get so much house on a lot. Also, smaller homes tend to have a higher price per square foot. Jeanine added that one-story homes have more value.
We hope you enjoyed Jeanine and Kristin walking you through the housing market report for Harmony FL April 2022. Our goal is to keep you updated on the real estate market in Harmony so you can use this information to make an informed decision regarding your real estate needs.
