The prices in real estate in Billings, in the Montana 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 Billings has increased strongly during the last 6 months. In October, the average price per sq.feet was $120. In November this price pretty much remained the same at a value of $123 per sq.feet. The price for the following two months in (December, January) had a considerable increment of 401 %. The price per sq.feet has had a considerable increase of 126 % 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 $304.5 to $385 during February, and March.
Based upon to the price in Billings (cities), this has gone up in the last 6 months. In our first sample month during October, the average price is $253,969. In November This price remains at $266,531. In the following two months the average price has remained the same with regard to the previous two months from $260,250 to $268,871. 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 $264,560.5 and $272,352.5 between February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $263,052 they are 33 % more affordable than the average price for Billings. The properties with the highest average price have 4 bedrooms, Their price is 21 % more costly than the average. After that we have properties with 3 bedrooms priced at $262,724.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $96 / sq.feet, with an average $328 / sq.feet price in Billings. The properties with the highest average prices have 4 bedrooms. They are 82 % more expensive than the average followed by properties with 3 bedrooms with a price at $269 / sq.feet.
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of $263,052 it is 46 % cheaper than the average price in Billings. "Duplex" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $274,840 it is 144 % 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 $66 / sq.feet followed by "Duplex" priced at $67 / sq.feet. "Commercial" is the most costly type of property with a $2,248 / sq.feet cost followed by "House" with an average price of $763 / sq.feet.