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 April, the average price per sq.feet was $295. In the following month the price per sq.feet increased considerably to $1,760. The price for the following two months in (June, July) had a considerable increment of 716 %. The price per sq.feet has decreased 92 % 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 $4,192 to $3,865 during August, and September.
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 April, is $1,005,194. During May the price went through a considerable rise reaching $1,290,326. During the following two months (June, July) the average price had a considerable increase of 145 % 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 $1,407,002.5 to $997,578, which means a 71 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $991,301 they are 72 % more affordable than the average price for Hillsborough. The properties with the highest average price have 1 bedroom, Their price is 192 % more costly than the average. After that we have properties with 4 bedrooms priced at $550,622.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $154 / sq.feet, with an average $7,291 / sq.feet price in Hillsborough. The properties with the lowest average prices have 2 bedrooms. They are 57 % cheaper than the average followed by properties with 4 bedrooms with a price at $866 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $991,301 it is 70 % cheaper than the average price in Hillsborough. "Land" is seen as the second most affordable property type. The dearest property type is "House" followed by "Detached House". At a price of $1,101,493 it is 47 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $212 / sq.feet followed by "Commercial" priced at $255 / sq.feet. "Land" is the most costly type of property with a $145,070 / sq.feet cost followed by "House" with an average price of $3,813 / sq.feet.