The prices in real estate in Orange Beach, in the Alabama 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 Orange Beach has had a strong decrease during the last 6 months. In February, the average price per sq.feet was $1,188. In the following month the price per sq.feet decreased considerably to $679. The price for the following two months in (April, May) decreased 89 % with regard to the prior two months. The price per sq.feet has had a considerable deflation of 75 % 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 $881.5 to $663 during June, and July.
Based upon to the price in Orange Beach (cities), this has gone up in the last 6 months. In our first sample month during February, the average price is $720,508. In March This price remains at $731,672. During the following two months (April, May) the average price had a considerable increase of 119 % 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 $793,322.75 to $686,273.5 in June and July.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $617,207 they are 51 % more affordable than the average price for Orange Beach. The properties with the highest average price have 4 bedrooms, Their price is 49 % more costly than the average. After that we have properties with 3 bedrooms priced at $550,273.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $311 / sq.feet, with an average $449 / sq.feet price in Orange Beach. The properties with the highest average prices have 1 bedroom. They are 72 % more expensive than the average followed by properties with 4 bedrooms with a price at $403 / sq.feet.
The graph displaying the average prices displays the property type "Duplex" as the most affordable one. At an cost of $617,207 it is 33 % cheaper than the average price in Orange Beach. "Multi Family House" is seen as the second most affordable property type. The dearest property type is "Condo" followed by "House". At a price of $897,145 it is 52 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $215 / sq.feet followed by "Multi Family House" priced at $268 / sq.feet. "Land" is the most costly type of property with a $2,812 / sq.feet cost followed by "Condo" with an average price of $521 / sq.feet.