2015 is off to a great start for home buyers according to an executive order announced last week authorizing FHA to cut .5 percent from the annual mortgage insurance premium for the FHA backed loans with terms greater than 15 years. fhaFor most FHA loans this will reduce the annual premium from 1.35 percent of the loan balance to .85 percent. Loans with balances above the loan limits in effect in most areas and with current MIP of 1.50 to 1.55 percent will see new premiums of 1.00 or 1.05 percent respectively. The upfront premium for all loans will remain unchanged at 1.75 percent.

Borrowers with FHA-insured loans can refinance and obtain the lower annual MIP, as long as the original endorsement was after May 31, 2009 (Older loans have a lower annual MIP. The annual MIP was increased from 0.55% to 0.90% in October 2010, to 1.15% in April 2011, to 1.25% in April 2012, and to 1.35% in April 2013 for borrowers with less than 5% down.)

Take a look at December’s real estate sales statistics.

Orange County Real Estate Sales Statistics – December 2014

Orange County saw 287 more homes sold in Dec 2014 than Dec  2013, a 19.86% increase. The average sales price increased by 5.78% and the median sales price increased by 7.27% from Dec  2013.  Market times increased by 9 days or 16.07%.

Orange
County
Homes
Sold
Average
Sales Price
Median
Sales Price
Average
Market Times 
Dec 2014  1732 $223,351 $177,000 65
Dec 2013 1445  $211,141  $165,000 56

 

Osceola County Real Estate Sales Statistics – December 2014

Osceola County home sales increased by 126 homes, a 26.98%increase. Prices decreased with the average sales price down 5.64% and the median price increased by 9.15%.  Market times increased by 20 days compared to Dec 2013.

Osceola
County
Homes
Sold
Average
Sales Price
Median
Sales Price
Average
Market Times 
Dec 2014 593  $181,305  $155,000 77
Dec 2013 467  $192,132  $142,000 57

 

Seminole County Real Estate Sales Statistics – December 2014

Seminole County residential sales decreased by 1.50% with 9 less homes sold in Dec 2014 compared to Dec 2013. The average sales price increased 3.17% and the median price increased by 3.64%. Market times increased by 11 days.

Seminole
County
Homes
Sold
Average
Sales Price
Median
Sales Price
Average
Market Time 
Dec 2014 591  $205,147  $171,000 65
Dec 2013 600  $198,840  $165,000 54

 

Lake County Real Estate Sales Statistics – December 2014

Residential sales in Lake County increased in Dec 2014 with 99 additional homes sold, a 20% increase. The average sales price increased by 8.18%, and the median sales price increased by 6.24% for the month compared to Dec 2013.  Market times increased by 2 days.

Lake
County
Homes
Sold
Average
Sales Price
Median
Sales Price
Average
Market Time 
Dec 2014 594  $175,345  $154,900 82
Dec 2013 4495 $162,091  $145,800 80

 

Polk County Real Estate Sales Statistics – December 2014

Polk County saw 53 more homes sold in Dec 2014 compared to Nov 2013, a 7.21% increase.  The average sales price increased 7.86%, and the median sales price increased by 6.3%.  Market times dropped 9 days.

Polk
County
Homes
Sold
Average
Sales Price
Median
Sales Price
 Average
Market Time
Dec 2014 788  $138,650  $126,500 83
Dec 2013 735  $128,543  $119,000 92

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Information provided by Teri Isner and the Orlando Avenue Top Team.

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Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

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