The prices in real estate in Olney, in the Maryland 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 Olney has increased strongly during the last 6 months. In May, the average price per sq.feet was $187. In the following month the price per sq.feet increased to $198. The price for the following two months in (July, August) had a considerable increment of 1081 %. The price per sq.feet has had a considerable deflation of 18 % 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 $1,137 to $203.5 during September, and October.
Based upon to the price in Olney (cities), this has gone up in the last 6 months. The average price during our first sample month during May, is $557,825. During June the price went through a considerable rise reaching $1,023,027. During the following two months (July, August) the average price had a considerable reduction of 60 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 87 %, going from $632,977 to $552,849.5 in September and October.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $530,162 they are 57 % more affordable than the average price for Olney. The properties with the lowest average price have 2 bedrooms, Their price is 28 % cheaper than the average. After that we have properties with 4 bedrooms priced at $378,026.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the most costly ones at a cost of $705 / sq.feet, with an average $219 / sq.feet price in Olney. The properties with the highest average prices have 1 bedroom. They are 6294 % more expensive than the average followed by properties with 2 bedrooms with a price at $715 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $530,162 it is 29 % cheaper than the average price in Olney. "Commercial Property" is seen as the second most affordable property type. The dearest property type is "Commercial Property" followed by "House". At a price of $378,026 it is 8 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "House" at an average cost of $705 / sq.feet followed by "Commercial Property" priced at $978 / sq.feet. "Commercial Property" is the most costly type of property with a $978 / sq.feet cost followed by "House" with an average price of $705 / sq.feet.