The prices in real estate in Cheboygan, in the Michigan region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Cheboygan has had a strong decrease during the last 6 months. In February, the average price per sq.feet was $315. In the following month the price per sq.feet decreased to $281. The price for the following two months in (April, May) decreased 89 % with regard to the prior two months. The price per sq.feet has had a considerable deflation of 77 % 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 $281.75 to $216 during June, and July.
Based upon to the price in Cheboygan (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during February, is $130,249. During March the price went through a considerable rise reaching $154,033. During the following two months (April, May) the average price had a considerable increase of 132 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 115 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $176,750 they are 13 % more affordable than the average price for Cheboygan. The properties with the highest average price have 4 bedrooms, Their price is 107 % more costly than the average. After that we have properties with 3 bedrooms priced at $202,321.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the most costly ones at a cost of $242 / sq.feet, with an average $234 / sq.feet price in Cheboygan. The properties with the highest average prices have 4 bedrooms. They are 135 % more expensive than the average followed by properties with 3 bedrooms with a price at $351 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $176,750 it is 56 % cheaper than the average price in Cheboygan. "House" is seen as the second most affordable property type. The dearest property type is "House" followed by "Land". At a price of $76,998 it is 40 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $208 / sq.feet followed by "Land" priced at $246 / sq.feet. "Land" is the most costly type of property with a $246 / sq.feet cost followed by "House" with an average price of $208 / sq.feet.