The prices in real estate in Bel Air, in the Maryland 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 Bel Air has increased strongly during the last 6 months. In March, the average price per sq.feet was $164. In the following month the price per sq.feet increased considerably to $217. The price for the following two months in (May, June) had a considerable increment of 204 %. The price per sq.feet has had a considerable deflation of 57 % 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 $289.75 to $164.5 during July, and August.
Based upon to the price in Bel Air (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during March, is $391,127. During April the price went through a considerable rise reaching $526,361. During the following two months (May, June) the average price had a considerable increase of 172 % 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 $623,356.5 to $399,771.5, which means a 64 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $384,144 they are 52 % more affordable than the average price for Bel Air. The properties with the highest average price have 4 bedrooms, Their price is 25 % more costly than the average. After that we have properties with 3 bedrooms priced at $398,420.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $157 / sq.feet, with an average $163 / sq.feet price in Bel Air. The properties with the highest average prices have 1 bedroom. They are 28 % more expensive than the average followed by properties with 2 bedrooms with a price at $176 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $384,144 it is 38 % cheaper than the average price in Bel Air. "Commercial" is seen as the second most affordable property type. The dearest property type is "Land" followed by "House". At a price of $437,626 it is 1983 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $148 / sq.feet followed by "Condo" priced at $151 / sq.feet. "Land" is the most costly type of property with a $988 / sq.feet cost followed by "House" with an average price of $167 / sq.feet.