The prices in real estate in Old Orchard Beach, in the Maine 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 Old Orchard Beach has increased strongly during the last 6 months. In July, the average price per sq.feet was $607. In the following month the price per sq.feet increased considerably to $1,852. The price for the following two months in (September, October) had a considerable decrease of 81 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 13 % 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 $1,115 to $145.5 during November, and December.
Based upon to the price in Old Orchard Beach (cities), these have remained the same in the last 6 months. The average price for July is $398,916. During August the price had a slight fall till $356,518. During the following two months (September, October) the average price fell 93 % 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 117 % 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 $515,405 they are 66 % more affordable than the average price for Old Orchard Beach. The properties with the lowest average price have 4 bedrooms, Their price is 11 % cheaper than the average. After that we have properties with 3 bedrooms priced at $362,242.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the most costly ones at a cost of $1,100 / sq.feet, with an average $127 / sq.feet price in Old Orchard Beach. The properties with the highest average prices have 1 bedroom. They are 1766 % more expensive than the average followed by properties with 3 bedrooms with a price at $1,947 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $515,405 it is 77 % cheaper than the average price in Old Orchard Beach. "Office" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Condo". At a price of $311,131 it is 24 % more affordable than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Office" at an average cost of $294 / sq.feet followed by "Land" priced at $963 / sq.feet. "Townhouse" is the most costly type of property with a $2,222 / sq.feet cost followed by "House" with an average price of $1,460 / sq.feet.