The prices in real estate in Chicago, in the Illinois 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 Chicago has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $311. In the following month the price per sq.feet decreased to $291. The price for the following two months in (September, October) had a considerable decrease of 79 with regard to the prior two months. The price per sq.feet has barely changed in the last two months compared to the average price of the previous four months going from an average price of $269.25 to $274.5 during November y December
Based upon to the price in Chicago (cities), this has fallen considerably in the last 6 months. The average price for July is $540,897. During August the price had a slight fall till $494,070. During the following two months (September, October) the average price had a considerable reduction of 66 % with regard to the previous two months. 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 $430,525.5 and $435,076 between November and December.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $408,691 they are 41 % more affordable than the average price for Chicago. The properties with the highest average price have 4 bedrooms, Their price is 28 % more costly than the average. After that we have properties with 3 bedrooms priced at $459,231.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $227 / sq.feet, with an average $269 / sq.feet price in Chicago. The properties with the highest average prices have 2 bedrooms. They are 10 % more expensive than the average followed by properties with 1 bedroom with a price at $292 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $408,691 it is 65 % cheaper than the average price in Chicago. "House" is seen as the second most affordable property type. The dearest property type is "Duplex" followed by "Condo". At a price of $490,542 it is 53 % 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 $211 / sq.feet followed by "Villa" priced at $256 / sq.feet. "Townhouse" is the most costly type of property with a $350 / sq.feet cost followed by "Condo" with an average price of $311 / sq.feet.