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 January, the average price per sq.feet was $155. In February this price pretty much remained the same at a value of $155 per sq.feet. The price for the following two months in (March, April) had a considerable increment of 1221 %. The price per sq.feet has had a considerable deflation of 31 % 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 $1,023.75 to $320 during May, and June.
Based upon to the price in Farmingdale (cities), this has gone up in the last 6 months. In our first sample month during January, the average price is $374,078. In February This price remains at $374,078. In the following two months the average price has remained the same with regard to the previous two months from $374,078 to $391,010. Based on an analysis of the first four prices and the last two months the average price has gone up 115 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 4 bedrooms are the cheapest ones. At a price of $435,833 they are 23 % more affordable than the average price for Farmingdale. The properties with the lowest average price have 3 bedrooms, Their price is 10 % cheaper than the average. After that we have properties with 1 bedroom priced at $337,024.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $141 / sq.feet, with an average $315 / sq.feet price in Farmingdale. The properties with the lowest average prices have 1 bedroom. They are 42 % cheaper than the average followed by properties with 2 bedrooms with a price at $181 / sq.feet.
The graph displaying the average prices displays the property type "Detached House" as the most affordable one. At an cost of $435,833 it is 23 % cheaper than the average price in Farmingdale. "Townhouse" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "Townhouse". At a price of $337,482 it is 16 % 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 $51 / sq.feet followed by "Townhouse" priced at $170 / sq.feet. "Detached House" is the cheapest type of property with a $180 / sq.feet value followed by "Townhouse" with an average price of $170 / sq.feet.