The prices in real estate in Bay City, 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 Bay City has increased strongly during the last 6 months. In January, the average price per sq.feet was $83. In the following month the price per sq.feet decreased to $73. The price for the following two months in (March, April) had a considerable increment of 197 %. The price per sq.feet has had a considerable deflation of 63 % 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 $116 to $73.5 during May, and June.
Based upon to the price in Bay City (cities), this has gone up in the last 6 months. The average price for January is $203,561. During February the price had a slight fall till $178,542. During the following two months (March, April) the average price had a considerable increase of 183 % 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 $270,575.75 to $126,427, which means a 47 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $128,657 they are 42 % more affordable than the average price for Bay City. The properties with the highest average price have 4 bedrooms, Their price is 39 % more costly than the average. After that we have properties with 3 bedrooms priced at $140,770.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $67 / sq.feet, with an average $75 / sq.feet price in Bay City. The properties with the highest average prices have 1 bedroom. They are 147 % more expensive than the average followed by properties with 3 bedrooms with a price at $83 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $128,657 it is 34 % 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 $188,003 it is 95 % 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 $43 / sq.feet followed by "Duplex" priced at $46 / sq.feet. "Farm" is the most costly type of property with a $427 / sq.feet cost followed by "Condo" with an average price of $133 / sq.feet.