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 April, the average price per sq.feet was $268. In the following month the price per sq.feet increased considerably to $1,003. The price for the following two months in (June, July) decreased 91 % with regard to the prior two months. The price per sq.feet has had a considerable deflation of 44 % 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 $606.25 to $268.5 during August, and September.
Based upon to the price in Orono (cities), this has gone up in the last 6 months. The average price during our first sample month during April, is $1,321,407. During May the price went through a considerable rise reaching $1,594,618. During the following two months (June, July) the price has had an average incrementation from $1,458,012.5 to $1,606,522.5. During the last two months the average price has had a strong fall compared to the previous four going from $1,532,267.5 to $1,217,012, which means a 79 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $1,175,505 they are 73 % more affordable than the average price for Orono. The properties with the highest average price have 1 bedroom, Their price is 10 % more costly than the average. After that we have properties with 3 bedrooms priced at $783,755.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $182 / sq.feet, with an average $258 / sq.feet price in Orono. The properties with the lowest average prices have 1 bedroom. They are 2 % cheaper than the average followed by properties with 3 bedrooms with a price at $233 / sq.feet.
The graph displaying the average prices displays the property type "Farm" as the most affordable one. At an cost of $1,175,505 it is 63 % 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 $1,266,201 it is 55 % 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 $126 / sq.feet followed by "Commercial" priced at $180 / sq.feet. "Land" is the most costly type of property with a $2,991 / sq.feet cost followed by "House" with an average price of $268 / sq.feet.