The prices in real estate in Cumberland, in the Maryland region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Cumberland has increased during the last 6 months. In December, the average price per sq.feet was $53. In the following month the price per sq.feet increased to $56. In the following two months the price per sq.feet has increased 110 %, going from $54.5 to $60 per sq.feet. The price per sq.feet has increased 108 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $57.25 to $62 during April, and May.
Based upon to the price in Cumberland (cities), this has gone up considerably in the last 6 months. The price in December is $84,791, rising in January till $91,221. During the following two months (February, March) the price has had an average incrementation from $88,006 to $97,746.5. Based on an analysis of the first four prices and the last two months the average price has gone up 110 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $98,056 they are 36 % more affordable than the average price for Cumberland. The properties with the highest average price have 4 bedrooms, Their price is 29 % more costly than the average. After that we have properties with 3 bedrooms priced at $97,040.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $52 / sq.feet, with an average $58 / sq.feet price in Cumberland. The properties with the highest average prices have 2 bedrooms. They are 22 % more expensive than the average followed by properties with 3 bedrooms with a price at $66 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $98,056 it is 46 % cheaper than the average price in Cumberland. "House" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "House". At a price of $78,965 it is 0 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $35 / sq.feet followed by "House" priced at $52 / sq.feet. "Land" is the most costly type of property with a $159 / sq.feet cost followed by "House" with an average price of $52 / sq.feet.