The prices in real estate in Iron River, in the Michigan 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 Iron River has had a strong decrease during the last 6 months. In April, the average price per sq.feet was $396. In the following month the price per sq.feet decreased to $374. In the following two months the price per sq.feet has increased 112 %, going from $385 to $430 per sq.feet. The price per sq.feet has had a considerable deflation of 26 % 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 $407.5 to $104 during August, and September.
Based upon to the price in Iron River (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during April, is $110,196. During May the price went through a considerable rise reaching $131,399. During the following two months (June, July) the price has had an average incrementation from $120,797.5 to $135,184. Based on an analysis of the first four prices and the last two months the average price has gone up 106 % 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 $142,825 they are 36 % more affordable than the average price for Iron River. The properties with the highest average price have 4 bedrooms, Their price is 132 % more costly than the average. After that we have properties with 3 bedrooms priced at $169,038.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $69 / sq.feet, with an average $101 / sq.feet price in Iron River. The properties with the highest average prices have 4 bedrooms. They are 13 % more expensive than the average followed by properties with 1 bedroom with a price at $104 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $142,825 it is 60 % cheaper than the average price in Iron River. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $86,333 it is 18 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $101 / sq.feet followed by "Condo" priced at $116 / sq.feet. "Land" is the most costly type of property with a $382 / sq.feet cost followed by "Condo" with an average price of $116 / sq.feet.