Orlando Real Estate Market Trends for Dec 2014
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. 
For 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.
For 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 |
Information provided by Teri Isner and the Orlando Avenue Top Team.
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.
You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.
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Labels: FHA loans, orange county real estate, Orlando avenue top team, orlando real estate market trends, osceola county real estate, polk county real estate, seminole county real estate, teri isner
posted by Orlando Real Estate News at 7:26 PM
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