The prices in real estate in Chesapeake, in the Virginia 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 Chesapeake has increased strongly during the last 6 months. In February, the average price per sq.feet was $143. In the following month the price per sq.feet increased considerably to $175. The price for the following two months in (April, May) had a considerable increment of 1554 %. The price per sq.feet has had a considerable deflation of 70 % 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 $1,315.25 to $918.5 during June, and July.
Based upon to the price in Chesapeake (cities), this has gone up considerably in the last 6 months. The price in February is $321,547, rising in March till $365,727. During the following two months (April, May) the average price had a considerable increase of 129 % 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 106 % 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 $396,667 they are 61 % more affordable than the average price for Chesapeake. The properties with the highest average price have 4 bedrooms, Their price is 20 % more costly than the average. After that we have properties with 3 bedrooms priced at $355,195.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $146 / sq.feet, with an average $265 / sq.feet price in Chesapeake. The properties with the highest average prices have 4 bedrooms. They are 1223 % more expensive than the average followed by properties with 2 bedrooms with a price at $152 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $396,667 it is 51 % cheaper than the average price in Chesapeake. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Land" followed by "House". At a price of $449,857 it is 41 % 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 $125 / sq.feet followed by "Duplex" priced at $126 / sq.feet. "House" is the most costly type of property with a $2,882 / sq.feet cost followed by "Land" with an average price of $529 / sq.feet.