The prices in real estate in Elmira, in the New York 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 Elmira has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $344. In the following month the price per sq.feet decreased considerably to $46. The price for the following two months in (September, October) had a considerable decrease of 22 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 $119 to $46 during November, and December.
Based upon to the price in Elmira (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during July, is $64,858. During August the price went through a considerable rise reaching $78,428. In the following two months the average price has remained the same with regard to the previous two months from $71,643 to $73,063.5. 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 $72,353.25 and $75,966 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 $68,254 they are 46 % more affordable than the average price for Elmira. The properties with the highest average price have 4 bedrooms, Their price is 70 % more costly than the average. After that we have properties with 3 bedrooms priced at $80,972.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $29 / sq.feet, with an average $43 / sq.feet price in Elmira. The properties with the highest average prices have 2 bedrooms. They are 42 % more expensive than the average followed by properties with 3 bedrooms with a price at $50 / sq.feet.
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of $68,254 it is 24 % cheaper than the average price in Elmira. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Commercial". At a price of $76,841 it is 39 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Office" at an average cost of $45 / sq.feet followed by "House" priced at $52 / sq.feet. "Commercial" is the most costly type of property with a $109 / sq.feet cost followed by "Apartment" with an average price of $104 / sq.feet.