The prices in real estate in Gallatin, in the Tennessee 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 Gallatin has had a strong decrease during the last 6 months. In October, the average price per sq.feet was $279. In the following month the price per sq.feet decreased considerably to $182. The price for the following two months in (December, January) had a considerable decrease of 71 with regard to the prior two months. The price per sq.feet has decreased 88 % 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 $197.25 to $173.5 during February, and March.
Based upon to the price in Gallatin (cities), this has gone up in the last 6 months. The average price during our first sample month during October, is $344,861. During November the price went through a considerable rise reaching $418,629. In the following two months the average price has remained the same with regard to the previous two months from $381,745 to $376,958.5. Based on an analysis of the first four prices and the last two months the average price has gone up 106 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $417,758 they are 35 % more affordable than the average price for Gallatin. The properties with the lowest average price have 4 bedrooms, Their price is 16 % cheaper than the average. After that we have properties with 1 bedroom priced at $322,674.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $141 / sq.feet, with an average $176 / sq.feet price in Gallatin. The properties with the highest average prices have 3 bedrooms. They are 91 % more expensive than the average followed by properties with 2 bedrooms with a price at $331 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $417,758 it is 28 % cheaper than the average price in Gallatin. "Condo" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "Duplex". At a price of $339,815 it is 16 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $126 / sq.feet followed by "Apartment" priced at $146 / sq.feet. "Condo" is the most costly type of property with a $218 / sq.feet cost followed by "Land" with an average price of $208 / sq.feet.