The prices in real estate in Fargo, in the North Dakota region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Fargo has increased strongly during the last 6 months. In April, the average price per sq.feet was $91. In May this price pretty much remained the same at a value of $94 per sq.feet. The price for the following two months in (June, July) had a considerable increment of 121 %. The price per sq.feet has increased 109 % 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 $102 to $111 during August, and September.
Based upon to the price in Fargo (cities), this has gone up in the last 6 months. The price in April is $277,490, rising in May till $311,243. During the following two months (June, July) the average price had a considerable increase of 120 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $323,599 to $273,124, which means a 84 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $285,696 they are 43 % more affordable than the average price for Fargo. The properties with the highest average price have 4 bedrooms, Their price is 34 % more costly than the average. After that we have properties with 3 bedrooms priced at $312,666.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $107 / sq.feet, with an average $111 / sq.feet price in Fargo. The properties with the highest average prices have 1 bedroom. They are 20 % more expensive than the average followed by properties with 3 bedrooms with a price at $118 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $285,696 it is 35 % cheaper than the average price in Fargo. "Land" is seen as the second most affordable property type. The dearest property type is "House" followed by "Detached House". At a price of $315,162 it is 11 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of $93 / sq.feet followed by "Detached House" priced at $98 / sq.feet. "Commercial" is the most costly type of property with a $1,197 / sq.feet cost followed by "Condo" with an average price of $181 / sq.feet.