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 March, the average price per sq.feet was $211. In April this price pretty much remained the same at a value of $211 per sq.feet. The price for the following two months in (May, June) had a considerable increment of 116 %. The price per sq.feet has had a considerable increase of 151 % 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 $227.5 to $344.5 during July, and August.
Based upon to the price in Ann Arbor (cities), this has gone downing the last 6 months. In our first sample month during March, the average price is $543,639. In April This price remains at $534,763. During the following two months (May, June) the average price fell 93 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 91 %, going from $520,211.5 to $470,905.5 in July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $460,978 they are 38 % more affordable than the average price for Ann Arbor. The properties with the highest average price have 4 bedrooms, Their price is 10 % more costly than the average. After that we have properties with 3 bedrooms priced at $396,955.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $219 / sq.feet, with an average $420 / sq.feet price in Ann Arbor. The properties with the highest average prices have 4 bedrooms. They are 110 % more expensive than the average followed by properties with 1 bedroom with a price at $396 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $460,978 it is 59 % cheaper than the average price in Ann Arbor. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Duplex". At a price of $468,062 it is 9 % 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 $176 / sq.feet followed by "Duplex" priced at $190 / sq.feet. "Land" is the most costly type of property with a $1,269 / sq.feet cost followed by "House" with an average price of $438 / sq.feet.