The rent prices in real estate in Galveston, in the Texas region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Galveston has had a strong fall during the last 6 months. In July, the average price per sq.feet was $9.94. In the following month the price per sq.feet fell considerably to $1.4. The price for the following two months in (September, October) had a considerable fall of 25 with regard to the previous two months. The price per sq.feet has had a considerable fall of 38 % 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 $3.55 to $1.35 during November, and December.
When referring to the price in Galveston (cities), there have hardly been any changes in the last 6 months. In our first sample month during July, the average price is $1,395. In August This price remains at $1,454. In the following two months the average price has hardly changed with regard to the previous two months from $1,424.5 to $1,390.5. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 92 %, going from $1,407.5 to $1,300.5 in November and December.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $1,349 they are 21 % more affordable than the average price for Galveston . The properties with the highest average price have 3 bedrooms, Their price is 19 % more expensive than the average. After that we have properties with 4 bedrooms priced at $1,593.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.06 / sq.feet, with an average $1.35 / sq.feet price in Galveston. The properties with the most expensive average prices have 1 bedroom. They are 10 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.39 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $1,349 it is 4 % more affordable than the average price in Galveston. "Condo" is seen as the second most affordable property type. The most expensive property type is "" followed by "Condo". At a price of $1,361 it is 15 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Condo" at an average price of $1.23 / sq.feet followed by "House" priced at $1.37 / sq.feet. "House" is the most expensive type of property with a $1.37 / sq.feet value followed by "Condo" with an average price of $1.23 / sq.feet.