The prices in real estate in Farmington, in the New Mexico 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 Farmington has increased strongly during the last 6 months. In March, the average price per sq.feet was $671. In the following month the price per sq.feet increased considerably to $932. In the following two months the price per sq.feet has increased 112 %, going from $801.5 to $895 per sq.feet. The price per sq.feet has barely changed in the last two months compared to the average price of the previous four months going from an average price of $848.25 to $833.5 during July y August
Based upon to the price in Farmington (cities), these have remained the same in the last 6 months. In our first sample month during March, the average price is $245,234. In April This price remains at $256,487. During the following two months (May, June) the price has had an average incrementation from $250,860.5 to $281,900.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 85 %, going from $266,380.5 to $226,659 in 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 $227,088 they are 57 % more affordable than the average price for Farmington. The properties with the highest average price have 4 bedrooms, Their price is 9 % more costly than the average. After that we have properties with 3 bedrooms priced at $191,056.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $188 / sq.feet, with an average $767 / sq.feet price in Farmington. The properties with the highest average prices have 4 bedrooms. They are 309 % more expensive than the average followed by properties with 3 bedrooms with a price at $657 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $227,088 it is 68 % cheaper than the average price in Farmington. "Condo" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $227,299 it is 325 % 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 $88 / sq.feet followed by "Farm" priced at $101 / sq.feet. "House" is the most costly type of property with a $1,345 / sq.feet cost followed by "Land" with an average price of $332 / sq.feet.