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 December, the average price per sq.feet was $127. In the following month the price per sq.feet increased considerably to $252. The price for the following two months in (February, March) had a considerable increment of 140 %. The price per sq.feet has had a considerable increase of 117 % 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 $227.25 to $266 during April, and May.
Based upon to the price in Old Orchard Beach (cities), this has fallen considerably in the last 6 months. The average price for December is $515,405. During January the price had a considerable reduction till $346,167. During the following two months (February, March) the average price had a considerable reduction of 82 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $392,473.25 and $391,214 between April and May.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $399,932 they are 43 % more affordable than the average price for Old Orchard Beach. The properties with the highest average price have 4 bedrooms, Their price is 66 % more costly than the average. After that we have properties with 3 bedrooms priced at $406,027.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $248 / sq.feet, with an average $268 / sq.feet price in Old Orchard Beach. The properties with the highest average prices have 1 bedroom. They are 47 % more expensive than the average followed by properties with 4 bedrooms with a price at $313 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $399,932 it is 71 % cheaper than the average price in Old Orchard Beach. "Office" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $288,895 it is 9 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $252 / sq.feet followed by "Office" priced at $289 / sq.feet. "Townhouse" is the most costly type of property with a $2,207 / sq.feet cost followed by "Land" with an average price of $958 / sq.feet.