The prices in real estate in Old Orchard Beach, in the Maine region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.feet in Old Orchard Beach has fallen in the last 6 months. In March, the average price per sq.feet was $2,012. In the following month the price per sq.feet decreased considerably to $1,550. The price for the following two months in (May, June) had a considerable increment of 128 %. The price per sq.feet has had a considerable deflation of 61 % 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 $2,029 to $1,229.5 during July, and August.
Based upon to the price in Old Orchard Beach (cities), this has gone up in the last 6 months. In our first sample month during March, the average price is $337,896. In April This price remains at $333,104. During the following two months (May, June) the price has had an average incrementation from $335,500 to $378,216. Based on an analysis of the first four prices and the last two months the average price has gone up 106 % 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 $356,518 they are 36 % more affordable than the average price for Old Orchard Beach. The properties with the highest average price have 4 bedrooms, Their price is 28 % more costly than the average. After that we have properties with 3 bedrooms priced at $341,647.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $1,162 / sq.feet, with an average $1,852 / sq.feet price in Old Orchard Beach. The properties with the highest average prices have 2 bedrooms. They are 11 % more expensive than the average followed by properties with 4 bedrooms with a price at $1,831 / sq.feet.
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of $356,518 it is 37 % cheaper than the average price in Old Orchard Beach. "Condo" is seen as the second most affordable property type. The dearest property type is "Land" followed by "House". At a price of $390,260 it is 30 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of $53 / sq.feet followed by "Office" priced at $298 / sq.feet. "Townhouse" is the most costly type of property with a $2,304 / sq.feet cost followed by "Condo" with an average price of $1,895 / sq.feet.