The prices in real estate in Fairbanks, in the Alaska 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 Fairbanks has had a strong decrease during the last 6 months. In March, the average price per sq.feet was $740. In April this price pretty much remained the same at a value of $762 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $751 to $744.5 per sq.feet. The price per sq.feet has had a considerable deflation of 56 % 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 $747.75 to $418.5 during July, and August.
Based upon to the price in Fairbanks (cities), this has gone up considerably in the last 6 months. The price in March is $169,041, rising in April till $188,013. During the following two months (May, June) the price has had an average incrementation from $178,527 to $189,095. 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 $198,933 they are 39 % more affordable than the average price for Fairbanks. The properties with the highest average price have 3 bedrooms, Their price is 65 % more costly than the average. After that we have properties with 4 bedrooms priced at $305,269.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $167 / sq.feet, with an average $369 / sq.feet price in Fairbanks. The properties with the highest average prices have 4 bedrooms. They are 140 % more expensive than the average followed by properties with 3 bedrooms with a price at $773 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $198,933 it is 70 % cheaper than the average price in Fairbanks. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Apartment". At a price of $240,578 it is 38 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $119 / sq.feet followed by "Apartment" priced at $131 / sq.feet. "House" is the most costly type of property with a $516 / sq.feet cost followed by "Land" with an average price of $215 / sq.feet.