The prices in real estate in Grand Island, in the Nebraska 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 Grand Island has had a strong decrease during the last 6 months. In April, the average price per sq.feet was $162. In the following month the price per sq.feet increased to $181. The price for the following two months in (June, July) had a considerable decrease of 84 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 49 % 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 $158 to $77.5 during August, and September.
Based upon to the price in Grand Island (cities), this has fallen considerably in the last 6 months. In our first sample month during April, the average price is $562,955. In May This price remains at $578,896. During the following two months (June, July) the average price had a considerable reduction of 67 % 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 $476,282.75 to $230,140, which means a 48 % fall.