The prices in real estate in Orono, 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 Orono has increased strongly during the last 6 months. In December, the average price per sq.feet was $162. In the following month the price per sq.feet increased considerably to $247. The price for the following two months in (February, March) had a considerable increment of 122 %. The price per sq.feet has had a considerable increase of 120 % 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 to $272.5 during April, and May.
Based upon to the price in Orono (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during December, is $480,320. During January the price went through a considerable rise reaching $856,226. During the following two months (February, March) the average price had a considerable increase of 137 % 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 123 % 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 $998,114 they are 86 % more affordable than the average price for Orono. The properties with the lowest average price have 3 bedrooms, Their price is 21 % cheaper than the average. After that we have properties with 4 bedrooms priced at $784,476.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $114 / sq.feet, with an average $281 / sq.feet price in Orono. The properties with the lowest average prices have 3 bedrooms. They are 15 % cheaper than the average followed by properties with 4 bedrooms with a price at $199 / sq.feet.
The graph displaying the average prices displays the property type "Farm" as the most affordable one. At an cost of $998,114 it is 57 % cheaper than the average price in Orono. "Commercial" is seen as the second most affordable property type. The dearest property type is "Land" followed by "House". At a price of $1,326,292 it is 81 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Farm" at an average cost of $118 / sq.feet followed by "Commercial" priced at $172 / sq.feet. "Land" is the most costly type of property with a $2,967 / sq.feet cost followed by "House" with an average price of $260 / sq.feet.