The prices in real estate in Detroit, in the Michigan region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Detroit has increased during the last 6 months. In March, the average price per sq.feet was $67. In the following month the price per sq.feet decreased to $58. The price for the following two months in (May, June) had a considerable increment of 117 %. The price per sq.feet has increased 113 % 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 $67.75 to $76.5 during July, and August.
Based upon to the price in Detroit (cities), this has gone downing the last 6 months. The average price for March is $106,775. During April the price had a considerable reduction till $80,519. During the following two months (May, June) the price has had an average incrementation from $93,647 to $103,506. 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 $98,576.5 and $101,045 between July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of $98,522 they are 1 % more affordable than the average price for Detroit. The properties with the highest average price have 4 bedrooms, Their price is 160 % more costly than the average. After that we have properties with 1 bedroom priced at $200,139.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the most costly ones at a cost of $81 / sq.feet, with an average $76 / sq.feet price in Detroit. The properties with the highest average prices have 1 bedroom. They are 193 % more expensive than the average followed by properties with 2 bedrooms with a price at $124 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $98,522 it is 57 % cheaper than the average price in Detroit. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Condo" followed by "House". At a price of $90,686 it is 246 % 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 $68 / sq.feet followed by "Commercial" priced at $134 / sq.feet. "Condo" is the most costly type of property with a $282 / sq.feet cost followed by "Townhouse" with an average price of $139 / sq.feet.