The prices in real estate in Ann Arbor, in the Michigan 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 Ann Arbor has increased strongly during the last 6 months. In June, the average price per sq.feet was $293. In the following month the price per sq.feet increased considerably to $876. The price for the following two months in (August, September) had a considerable decrease of 40 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 64 % 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 $409.5 to $263 during October, and November.
Based upon to the price in Ann Arbor (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during June, is $315,466. During July the price went through a considerable rise reaching $370,778. During the following two months (August, September) the average price had a considerable increase of 119 % 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 141 % 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 $679,866 they are 67 % more affordable than the average price for Ann Arbor. The properties with the highest average price have 4 bedrooms, Their price is 24 % more costly than the average. After that we have properties with 3 bedrooms priced at $484,215.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $226 / sq.feet, with an average $279 / sq.feet price in Ann Arbor. The properties with the highest average prices have 1 bedroom. They are 37 % more expensive than the average followed by properties with 2 bedrooms with a price at $280 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $679,866 it is 57 % cheaper than the average price in Ann Arbor. "Office" is seen as the second most affordable property type. The dearest property type is "House" followed by "Duplex". At a price of $470,411 it is 26 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of $185 / sq.feet followed by "Duplex" priced at $195 / sq.feet. "Condo" is the most costly type of property with a $334 / sq.feet cost followed by "House" with an average price of $243 / sq.feet.