The prices in real estate in Binghamton, in the New York 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 Binghamton has increased strongly during the last 6 months. In April, the average price per sq.feet was $65. In the following month the price per sq.feet decreased to $58. The price for the following two months in (June, July) had a considerable increment of 228 %. The price per sq.feet has had a considerable deflation of 55 % 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 $100.75 to $55 during August, and September.
Based upon to the price in Binghamton (cities), these have remained the same in the last 6 months. In our first sample month during April, the average price is $110,098. In May This price remains at $106,003. In the following two months the average price has remained the same with regard to the previous two months from $108,050.5 to $113,080. Based on an analysis of the first four prices and the last two months the average price has gone up 107 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $114,723 they are 29 % more affordable than the average price for Binghamton. The properties with the highest average price have 1 bedroom, Their price is 78 % more costly than the average. After that we have properties with 4 bedrooms priced at $156,576.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the most costly ones at a cost of $60 / sq.feet, with an average $54 / sq.feet price in Binghamton. The properties with the highest average prices have 1 bedroom. They are 26 % more expensive than the average followed by properties with 4 bedrooms with a price at $65 / sq.feet.
The graph displaying the average prices displays the property type "Triplex" as the most affordable one. At an cost of $114,723 it is 9 % cheaper than the average price in Binghamton. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Condo". At a price of $117,741 it is 164 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Triplex" at an average cost of $47 / sq.feet followed by "Condo" priced at $56 / sq.feet. "Commercial" is the most costly type of property with a $66 / sq.feet cost followed by "House" with an average price of $58 / sq.feet.