The prices in real estate in Bay City, in the Michigan region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Bay City has had a strong decrease during the last 6 months. In April, the average price per sq.feet was $235. In the following month the price per sq.feet decreased considerably to $72. The price for the following two months in (June, July) had a considerable decrease of 50 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 69 % 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 $115.25 to $80 during August, and September.
Based upon to the price in Bay City (cities), this has fallen considerably in the last 6 months. The average price for April is $496,789. During May the price had a considerable reduction till $124,197. During the following two months (June, July) the average price had a considerable reduction of 43 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $221,718 to $129,987.5, which means a 59 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $137,998 they are 26 % more affordable than the average price for Bay City. The properties with the highest average price have 4 bedrooms, Their price is 70 % more costly than the average. After that we have properties with 1 bedroom priced at $169,220.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $82 / sq.feet, with an average $85 / sq.feet price in Bay City. The properties with the highest average prices have 1 bedroom. They are 109 % more expensive than the average followed by properties with 4 bedrooms with a price at $92 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $137,998 it is 38 % cheaper than the average price in Bay City. "Duplex" is seen as the second most affordable property type. The dearest property type is "Condo" followed by "Farm". At a price of $187,438 it is 81 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $40 / sq.feet followed by "Duplex" priced at $43 / sq.feet. "Farm" is the most costly type of property with a $424 / sq.feet cost followed by "Condo" with an average price of $130 / sq.feet.