The prices in real estate in Farmingdale, in the New York 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 Farmingdale has increased strongly during the last 6 months. In March, the average price per sq.feet was $355. In the following month the price per sq.feet increased to $375. In the following two months the price per sq.feet has increased 115 %, going from $365 to $418.5 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 $391.75 to $421 during July, and August.
Based upon to the price in Farmingdale (cities), these have remained the same in the last 6 months. In our first sample month during March, the average price is $608,539. In April This price remains at $597,189. In the following two months the average price has remained the same with regard to the previous two months from $602,864 to $579,568. 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 $591,216 and $587,018.5 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 $570,558 they are 16 % more affordable than the average price for Farmingdale. The properties with the highest average price have 3 bedrooms, Their price is 6 % more costly than the average. After that we have properties with 4 bedrooms priced at $593,842.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $368 / sq.feet, with an average $445 / sq.feet price in Farmingdale. The properties with the lowest average prices have 1 bedroom. They are 1 % cheaper than the average followed by properties with 2 bedrooms with a price at $410 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $570,558 it is 44 % cheaper than the average price in Farmingdale. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $494,453 it is 7 % 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 $120 / sq.feet followed by "Condo" priced at $301 / sq.feet. "House" is the cheapest type of property with a $377 / sq.feet value followed by "Condo" with an average price of $301 / sq.feet.