Harmony Florida housing market report for January 2022 presented by Jeanine Corcoran the broker for The Corcoran Connection a real estate company. Jeanine is joined by her co-host Kristin Macari owner of Studio Nine 13. Welcome to the 11th episode of Discover Harmony Florida.
Jeanine started the discussion by stating that there were only 9 properties sold in Harmony, FL for the month of January 2022. There were 4 properties sold in The Lakes which is the 55 and older community and then there were 5 resales.
In comparison, for January 2021, there were 8 properties sold so almost the same activity. Kristin commented that even though properties sold were one more this year versus last year, it seemed quieter this year. She stated it felt quieter because there is so much desperation in the air. There are so many buyers chomping at the bit to get into Harmony.
Jeanine concurred and said that buyers are anxious, and she doesn’t blame them as this is a challenging market for them. And with the interest rates looming which is making buyers even more anxious. She feels bad for buyers right now.
Kristin said she and her husband have been trying to buy a home in Harmony Florida for 18 months and they finally went under contract and their home is under construction with Jones Homes. She said she drives by every day to see if something new is done.
Kristin said that with the desperation of buyers if something does come on the real estate market and it is appropriately priced, it sells very quickly. She said we need more inventory for buyers. Kristin asked Jeanine what the available inventory looks like?
Jeanine said there are only 11 active listings currently. There are six in Harmony West, three in The Lakes, and two in resale. She said that is not very many at all. The Lakes property sales have been on fire, and it seems to go in waves. She said there has only been one condo/townhome sale since the summer.
Jeanine mentioned that it would be great to have Robert Bass, a real estate appraiser on the Discover Harmony Florida podcast. She called him recently to discuss how to follow proper guidelines for the sale price of a condo as there haven’t been any sold since last summer and the market grew 19-20%. He was kind enough to walk her through the exact steps on how to properly price a condo.
Jeanine also mentioned bringing on some mortgage people and would be asking them what their prediction on the market would be over the short and long term. She was thinking of having three mortgage experts on and hearing what they think about the market.
Jeanine stated there are 40 pending home sales in Harmony Florida right now. Thirty-two of the 40 pending homes for sale are in Harmony West and they are builder homes either under construction or going under construction. What this means is there are only 8 existing homes in Harmony that are pending.
Jeanine closed by stating that they work with two mortgage companies that offer a couple of options for buyers. They have a program where a person could move out of their house, buy their next one, and where their current home doesn’t have to be contingent on the purchase of their new home. This is a great option that these mortgage companies came up with due to the challenges in the current real estate market.
Kristin also mentioned another current challenge regarding “no inventory” in the market. People are hesitant right now to sell their homes because there are no homes to buy hence piling on to the current problem of “there are no homes to buy”. These mortgages companies with these unique programs are helping to alleviate this issue.
We hope you enjoyed Jeanine and Kristin walking you through the Harmony Florida housing market report for January 2022. We want to keep you up to date with what is happening in the real estate market in Harmony so you can use this information to make an informed decision regarding your real estate needs.
