The prices in real estate in Gallup, 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 Gallup has increased strongly during the last 6 months. In February, the average price per sq.feet was $87. In the following month the price per sq.feet increased to $93. In the following two months the price per sq.feet has increased 106 %, going from $90 to $95 per sq.feet. The price per sq.feet has had a considerable increase of 152 % 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 $92.5 to $140.5 during June, and July.
Based upon to the price in Gallup (cities), these have remained the same in the last 6 months. The price in February is $163,685, rising in March till $181,171. In the following two months the average price has remained the same with regard to the previous two months from $172,428 to $170,030.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 94 %, going from $171,229.25 to $161,800 in June and July.
The graph showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 6 % cheaper than the average price of $154,738 in Gallup. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 6 % more affordable than the average aforementioned.
With regard to the average prices per sq.feet those properties with 1 bedroom are 54 % cheaper than the average price of ($84 / sq.feet) in Gallup. Properties with the most affordable price based upon to the number of bedrooms / sq.feet are those with 1 bedroom. They are 54 % cheaper than the average value aforementioned.
With regard to the average price based upon the property in Gallup we can see that the cheapest property type is "House" at a price of $154,738, they are 6 % more affordable than the average price of (!PRECIO2!). "House" has the lowest price. This price is 6 % more affordable than the average price aforementioned.
According to the average area cost by sq.feet the cheapest property type is "House with an average price of $84 / sq.feet. "House" with an average cost of $84 / sq.feet has the lowest price and would be directed at less affluent cities.