The prices in real estate in Detroit Lakes, in the Minnesota region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per sq.feet in Detroit Lakes has remained the same in the last 6 months. In May, the average price per sq.feet was $173. In the following month the price per sq.feet decreased to $163. In the following two months the price per sq.feet has increased 108 %, going from $168 to $181 per sq.feet. The price per sq.feet has decreased 90 % 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 $174.5 to $156.5 during September, and October.
Based upon to the price in Detroit Lakes (cities), this has gone downing the last 6 months. The average price for May is $391,885. During June the price had a slight fall till $356,862. In the following two months the average price has remained the same with regard to the previous two months from $374,373.5 to $370,112. During the last two months the average price has had a strong fall compared to the previous four going from $372,242.75 to $303,520, which means a 82 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $299,601 they are 59 % more affordable than the average price for Detroit Lakes. The properties with the highest average price have 4 bedrooms, Their price is 17 % more costly than the average. After that we have properties with 3 bedrooms priced at $307,639.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $145 / sq.feet, with an average $153 / sq.feet price in Detroit Lakes. The properties with the highest average prices have 2 bedrooms. They are 46 % more expensive than the average followed by properties with 1 bedroom with a price at $216 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $299,601 it is 27 % cheaper than the average price in Detroit Lakes. "Office" is seen as the second most affordable property type. The cheapest type property is "Office" followed by "House". At a price of $217,900 it is 16 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $142 / sq.feet followed by "Office" priced at $256 / sq.feet. "Office" is the most costly type of property with a $256 / sq.feet cost followed by "House" with an average price of $142 / sq.feet.