The prices in real estate in Bemidji, in the Minnesota 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 Bemidji has increased strongly during the last 6 months. In August, the average price per sq.feet was $97. In September this price pretty much remained the same at a value of $98 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $97.5 to $93.5 per sq.feet. The price per sq.feet has had a considerable increase of 341 % 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 $95.5 to $325.5 during December, and January.
Based upon to the price in Bemidji (cities), this has gone downing the last 6 months. In our first sample month during August, the average price is $211,049. In September This price remains at $213,544. During the following two months (October, November) the average price fell 93 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $204,827.5 and $196,390.5 between December and January.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $205,096 they are 60 % more affordable than the average price for Bemidji. The properties with the highest average price have 4 bedrooms, Their price is 18 % more costly than the average. After that we have properties with 3 bedrooms priced at $208,788.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $213 / sq.feet, with an average $560 / sq.feet price in Bemidji. The properties with the highest average prices have 1 bedroom. They are 18 % more expensive than the average followed by properties with 4 bedrooms with a price at $390 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $205,096 it is 56 % cheaper than the average price in Bemidji. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Duplex". At a price of $212,178 it is 326 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $100 / sq.feet followed by "Condo" priced at $118 / sq.feet. "Commercial" is the most costly type of property with a $7,640 / sq.feet cost followed by "House" with an average price of $545 / sq.feet.