The prices in real estate in Chicago, in the Illinois 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 Chicago has increased strongly during the last 6 months. In October, the average price per sq.feet was . In the following month the price per sq.feet increased considerably to $266. The price for the following two months in (December, January) had a considerable increment of 176 %. The price per sq.feet has had a considerable increase of 153 % 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 $183.5 to $280 during February, and March.
Based upon to the price in Chicago (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is . During November the price went through a considerable rise reaching $440,909. During the following two months (December, January) the average price had a considerable increase of 163 % 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 risen strongly 164 % 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 $413,787 they are 13 % more affordable than the average price for Chicago. The properties with the highest average price have 3 bedrooms, Their price is 12 % more costly than the average. After that we have properties with 4 bedrooms priced at $462,736.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $196 / sq.feet, with an average $253 / sq.feet price in Chicago. The properties with the highest average prices have 1 bedroom. They are 212 % more expensive than the average followed by properties with 2 bedrooms with a price at $281 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $413,787 it is 26 % cheaper than the average price in Chicago. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "House". At a price of $487,973 it is 182 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $219 / sq.feet followed by "House" priced at $390 / sq.feet. "Apartment" is the most costly type of property with a $4,943 / sq.feet cost followed by "Condo" with an average price of $476 / sq.feet.