The prices in real estate in Fairbanks, in the Alaska 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 Fairbanks has increased during the last 6 months. In November, the average price per sq.feet was $131. In the following month the price per sq.feet decreased to $124. In the following two months the price per sq.feet has increased 111 %, going from $127.5 to $141 per sq.feet. The price per sq.feet has increased 107 % 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 $134.25 to $143 during March, and April.
Based upon to the price in Fairbanks (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is $222,429. During December the price went through a considerable rise reaching $276,171. In the following two months the average price has remained the same with regard to the previous two months from $249,300 to $238,576. Based on an analysis of the first four prices and the last two months the average price has gone up 110 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $273,870 they are 48 % more affordable than the average price for Fairbanks. The properties with the highest average price have 4 bedrooms, Their price is 40 % more costly than the average. After that we have properties with 3 bedrooms priced at $270,833.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $138 / sq.feet, with an average $144 / sq.feet price in Fairbanks. The properties with the highest average prices have 1 bedroom. They are 21 % more expensive than the average followed by properties with 4 bedrooms with a price at $161 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $273,870 it is 36 % cheaper than the average price in Fairbanks. "Apartment" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Apartment". At a price of $238,656 it is 2 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $123 / sq.feet followed by "Condo" priced at $130 / sq.feet. "House" is the most costly type of property with a $145 / sq.feet cost followed by "Condo" with an average price of $130 / sq.feet.