Property prices for sale in Cumberland (Maryland)
The prices in real estate in Cumberland, in the Maryland region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Cumberland has had a strong decrease during the last 6 months. In October, the average price per sq.feet was $567. In the following month the price per sq.feet decreased considerably to $187. The price for the following two months in (December, January) had a considerable decrease of 35 with regard to the prior two months. The price per sq.feet has had a considerable increase of 137 % 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 $254 to $347.5 during February, and March.
Based upon to the price in Cumberland (cities), this has gone downing the last 6 months. In our first sample month during October, the average price is $160,071. In November This price remains at $166,956. During the following two months (December, January) the average price fell 89 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 89 %, going from $154,674.5 to $137,694.5 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $133,493 they are 20 % more affordable than the average price for Cumberland. The properties with the highest average price have 4 bedrooms, Their price is 50 % more costly than the average. After that we have properties with 3 bedrooms priced at $141,579.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $92 / sq.feet, with an average $545 / sq.feet price in Cumberland. The properties with the lowest average prices have 3 bedrooms. They are 27 % cheaper than the average followed by properties with 1 bedroom with a price at $192 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $133,493 it is 56 % cheaper than the average price in Cumberland. "Condo" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $149,536 it is 244 % 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 $56 / sq.feet followed by "Condo" priced at $85 / sq.feet. "Land" is the most costly type of property with a $11,968 / sq.feet cost followed by "House" with an average price of $673 / sq.feet.
