Property prices for sale in Gloucester (Massachusetts)
The prices in real estate in Gloucester, in the Massachusetts 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 Gloucester has increased strongly during the last 6 months. In October, the average price per sq.feet was $478. In the following month the price per sq.feet increased to $511. In the following two months the price per sq.feet has increased 113 %, going from $494.5 to $556.5 per sq.feet. The price per sq.feet has increased 115 % 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 $525.5 to $602 during February, and March.
Based upon to the price in Gloucester (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is $961,910. During November the price went through a considerable rise reaching $1,210,822. During the following two months (December, January) the average price had a considerable increase of 118 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 110 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $1,284,219 they are 74 % more affordable than the average price for Gloucester. The properties with the highest average price have 4 bedrooms, Their price is 58 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,182,763.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $380 / sq.feet, with an average $582 / sq.feet price in Gloucester. The properties with the highest average prices have 4 bedrooms. They are 12 % more expensive than the average followed by properties with 3 bedrooms with a price at $552 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $1,284,219 it is 71 % cheaper than the average price in Gloucester. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Land". At a price of $1,503,271 it is 21 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $304 / sq.feet followed by "House" priced at $529 / sq.feet. "Land" is the most costly type of property with a $696,092 / sq.feet cost followed by "Condo" with an average price of $689 / sq.feet.
