The prices in real estate in Lorain, in the Ohio region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Lorain has increased strongly during the last 6 months. In March, the average price per sq.feet was $82. In April this price pretty much remained the same at a value of $80 per sq.feet. The price for the following two months in (May, June) had a considerable increment of 502 %. The price per sq.feet has had a considerable increase of 1457 % 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 $244 to $3,554 during July, and August.
Based upon to the price in Lorain (cities), this has gone up considerably in the last 6 months. In our first sample month during March, the average price is $121,690. In April This price remains at $118,954. During the following two months (May, June) the average price had a considerable increase of 361 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 946 % 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 $2,915,283 they are 97 % more affordable than the average price for Lorain. The properties with the lowest average price have 3 bedrooms, Their price is 93 % cheaper than the average. After that we have properties with 4 bedrooms priced at $131,108.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $56 / sq.feet, with an average $5,198 / sq.feet price in Lorain. The properties with the lowest average prices have 3 bedrooms. They are 98 % cheaper than the average followed by properties with 2 bedrooms with a price at $70 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $2,915,283 it is 96 % cheaper than the average price in Lorain. "Condo" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "Office". At a price of $220,799 it is 92 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $69 / sq.feet followed by "Condo" priced at $74 / sq.feet. "Apartment" is the cheapest type of property with a $106 / sq.feet value followed by "Office" with an average price of $89 / sq.feet.