The prices in real estate in Elk River, in the Minnesota 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 Elk River has had a strong decrease during the last 6 months. In March, the average price per sq.feet was $3,477. In the following month the price per sq.feet decreased considerably to $2,293. The price for the following two months in (May, June) decreased 86 % with regard to the prior two months. The price per sq.feet has had a considerable deflation of 39 % 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 $2,676.5 to $1,032 during July, and August.
Based upon to the price in Elk River (cities), these have remained the same in the last 6 months. In our first sample month during March, the average price is $323,814. In April This price remains at $319,602. In the following two months the average price has remained the same with regard to the previous two months from $321,708 to $307,974. 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 $314,841 and $319,189.5 between July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $338,940 they are 35 % more affordable than the average price for Elk River. The properties with the highest average price have 4 bedrooms, Their price is 11 % more costly than the average. After that we have properties with 3 bedrooms priced at $330,713.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $140 / sq.feet, with an average $1,135 / sq.feet price in Elk River. The properties with the highest average prices have 4 bedrooms. They are 110 % more expensive than the average followed by properties with 3 bedrooms with a price at $1,660 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $338,940 it is 64 % cheaper than the average price in Elk River. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of $264,299 it is 6 % 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 $140 / sq.feet followed by "Condo" priced at $150 / sq.feet. "House" is the most costly type of property with a $1,547 / sq.feet cost followed by "Land" with an average price of $624 / sq.feet.