The prices in real estate in Albuquerque, in the New Mexico 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 Albuquerque has increased strongly during the last 6 months. In December, the average price per sq.feet was $132. In January this price pretty much remained the same at a value of $132 per sq.feet. In the following two months the price per sq.feet has increased 113 %, going from $132 to $149 per sq.feet. The price per sq.feet has had a considerable increase of 117 % 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 $140.5 to $165 during April, and May.
Based upon to the price in Albuquerque (cities), this has gone up considerably in the last 6 months. The price in December is $254,665, rising in January till $273,052. During the following two months (February, March) the price has had an average incrementation from $263,858.5 to $296,699. Based on an analysis of the first four prices and the last two months the average price has risen strongly 149 % 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 $491,375 they are 83 % more affordable than the average price for Albuquerque. The properties with the lowest average price have 4 bedrooms, Their price is 24 % cheaper than the average. After that we have properties with 3 bedrooms priced at $248,524.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $126 / sq.feet, with an average $177 / sq.feet price in Albuquerque. The properties with the lowest average prices have 2 bedrooms. They are 20 % cheaper than the average followed by properties with 4 bedrooms with a price at $139 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $491,375 it is 73 % cheaper than the average price in Albuquerque. "Apartment" is seen as the second most affordable property type. The dearest property type is "Condo" followed by "Villa". At a price of $302,036 it is 163 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $105 / sq.feet followed by "Townhouse" priced at $119 / sq.feet. "Condo" is the most costly type of property with a $344 / sq.feet cost followed by "Villa" with an average price of $133 / sq.feet.