St. Cloud Florida housing market statistics 2021 versus 2020 presented by Jeanine Corcoran 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 9th episode of Discover St. Cloud Florida.
Jeanine broke down the housing statistics by zip code as St. Cloud has five of them. Starting with zip code 34769 which covers a lot of our downtown area. The price per square foot in 2002 was $153 and in 2021 it jumped to $181.30 which represents an 18.5% increase.
The number of homes sold in 2020 was 379 versus 458 homes sold in 2021. Next, Jeanine moved to report on the “days on the market”. In 2020, the days on market were 14 and in 2021 it was only 6 days. Kristin added that the influx of new people moving into the area helped contribute to the number of homes sold.
Jeanine moved next to area code 34771 which is close to where The Corcoran Connection’s office is located on Narcoossee Rd. The price per square foot in 2020 was $149.79 for this zip code and in 2021 it was $176.07 which is a 17.5% increase year over year. Days on the market in 2020 was 18 and in 2021 it went all the way down to 6 days on the market. Kristin said it takes a few days just to go through all the offers the seller is receiving in this market.
Jeanine spoke about her process of helping the seller figure out what is the best offer to accept. She puts all offers on an excel spreadsheet and starts with helping the seller eliminate all the offers that they don’t want which is easier. Then it is narrowed down to the top 3 offers and she discusses those in detail with the sellers.
The next zip code that Jeanine covered is 34772. The price per square foot in this area in 2020 was $140.63 and in 2021 it shot up to $167.95 an increase of 19.4%. In 2020 there were 637 homes sold and in 2021 that number was 669 homes sold. Days on the market was in 2020 was 18 versus 48 in 2021. Jeanine noted that there had to be a couple of outliers in there skewing the numbers in 2021.
Jeanine mentioned that the experts are predicting a 3% increase for 2022. Kristin stated that she feels the demand is still there and she is the perfect example. Her family is looking to buy a home and there is just no inventory in the area. Jeanine mentioned that you could build a home, but you are looking at 9-12 months out for completion. There is just not enough inventory for the number of people trying to move here and buy and the builders can’t keep up.
Jeanine wanted to talk about the market in St. Cloud for a minute. She does not control the market despite what some people think. If you want to put your house on the market for a higher price, you can absolutely do that. People just have to be prepared to wait and understand that it will take longer to sell.
Kristin was recently speaking with a lender, and he said to prepare for interest rates to be in the 4.5% area by mid-summer of this year. People should not get crazy over this if the interest rates do go to 4.0% or 4.5% because that is still really low as Jeanine noted.
Jeanine has been asked by several people if the market going to crash? In her opinion and in the opinion of experts, no because the banks will not allow it to. Kristin added that many millennials are entering the market, and this is driving demand as well as they are now ready to buy a house. The millennials are competing with the baby boomers who are coming to Florida and buying their second home. The boomers are buying a second home as an investment.
We hope you enjoyed Jeanine and Kristin walking you through the St. Cloud Florida housing market statistics 2021 versus 2020. We want to keep you up to date with what is happening in the real estate market in St. Cloud so you can capitalize on your real estate needs.
