The prices in real estate in Hillsborough, in the North Carolina 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 Hillsborough has increased strongly during the last 6 months. In December, the average price per sq.feet was $282. In January this price pretty much remained the same at a value of $288 per sq.feet. The price for the following two months in (February, March) had a considerable increment of 266 %. The price per sq.feet has had a considerable increase of 197 % 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 $522.25 to $1,027.5 during April, and May.
Based upon to the price in Hillsborough (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during December, is $1,017,014. During January the price went through a considerable rise reaching $1,355,202. During the following two months (February, March) the average price had a considerable increase of 296 % 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 $2,349,220.75 to $1,147,760, which means a 49 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of $1,290,326 they are 77 % more affordable than the average price for Hillsborough. The properties with the highest average price have 1 bedroom, Their price is 170 % more costly than the average. After that we have properties with 2 bedrooms priced at $3,081,414.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $135 / sq.feet, with an average $1,760 / sq.feet price in Hillsborough. The properties with the highest average prices have 1 bedroom. They are 537 % more expensive than the average followed by properties with 2 bedrooms with a price at $7,950 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $1,290,326 it is 37 % cheaper than the average price in Hillsborough. "Townhouse" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Townhouse". At a price of $1,105,911 it is 12 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $259 / sq.feet followed by "Townhouse" priced at $318 / sq.feet. "House" is the cheapest type of property with a $1,002 / sq.feet value followed by "Townhouse" with an average price of $318 / sq.feet.