Property prices for sale in Gallup (New Mexico)
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 October, the average price per sq.feet was $146. In November this price pretty much remained the same at a value of $141 per sq.feet. The price for the following two months in (December, January) decreased 91 % with regard to the prior two months. The price per sq.feet has had a considerable increase of 363 % 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 $137.25 to $498.5 during February, and March.
Based upon to the price in Gallup (cities), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is $294,725. In November This price remains at $303,427. During the following two months (December, January) the average price had a considerable reduction of 82 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $271,513.5 to $224,543, which means a 83 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $239,224 they are 64 % more affordable than the average price for Gallup. The properties with the lowest average price have 4 bedrooms, Their price is 17 % cheaper than the average. After that we have properties with 3 bedrooms priced at $155,187.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $50 / sq.feet, with an average $871 / sq.feet price in Gallup. The properties with the lowest average prices have 3 bedrooms. They are 83 % cheaper than the average followed by properties with 2 bedrooms with a price at $76 / sq.feet.
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 $180,222, they are 25 % more affordable than the average price of (!PRECIO2!). "House" has the lowest price. This price is 25 % 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 $98 / sq.feet. "House" with an average cost of $98 / sq.feet has the lowest price and would be directed at less affluent cities.
