The prices in real estate in Ocean City, 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 Ocean City has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $419. In the following month the price per sq.feet decreased considerably to $295. The price for the following two months in (September, October) decreased 88 % with regard to the prior two months. The price per sq.feet has barely changed in the last two months compared to the average price of the previous four months going from an average price of $335 to $339 during November y December
Based upon to the price in Ocean City (cities), this has gone up in the last 6 months. In our first sample month during July, the average price is $398,544. In August This price remains at $379,127. In the following two months the average price has remained the same with regard to the previous two months from $388,835.5 to $403,004.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 128 % 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 $511,404 they are 62 % more affordable than the average price for Ocean City. The properties with the highest average price have 4 bedrooms, Their price is 43 % more costly than the average. After that we have properties with 3 bedrooms priced at $537,931.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $308 / sq.feet, with an average $328 / sq.feet price in Ocean City. The properties with the highest average prices have 3 bedrooms. They are 1 % more expensive than the average followed by properties with 1 bedroom with a price at $329 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $511,404 it is 21 % cheaper than the average price in Ocean City. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $461,912 it is 14 % 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 $286 / sq.feet followed by "Condo" priced at $327 / sq.feet. "Apartment" is the most costly type of property with a $378 / sq.feet cost followed by "House" with an average price of $349 / sq.feet.