The prices in real estate in Island Lake, in the Illinois 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 Island Lake has increased strongly during the last 6 months. In March, the average price per sq.feet was $131. In the following month the price per sq.feet increased considerably to $188. In the following two months the price per sq.feet has barely changed, going from $159.5 to $159.5 per sq.feet. The price per sq.feet has had a considerable increase of 123 % 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 $159.5 to $195.5 during July, and August.
Based upon to the price in Island Lake (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during March, is $215,795. During April the price went through a considerable rise reaching $398,311. During the following two months (May, June) 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 risen strongly 119 % 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 $385,387 they are 73 % more affordable than the average price for Island Lake. The properties with the lowest average price have 4 bedrooms, Their price is 12 % cheaper than the average. After that we have properties with 3 bedrooms priced at $218,763.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $84 / sq.feet, with an average $204 / sq.feet price in Island Lake. The properties with the lowest average prices have 4 bedrooms. They are 41 % cheaper than the average followed by properties with 3 bedrooms with a price at $115 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $385,387 it is 31 % cheaper than the average price in Island Lake. "Townhouse" is seen as the second most affordable property type. The cheapest type property is "Commercial" followed by "Townhouse". At a price of $275,833 it is 22 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $104 / sq.feet followed by "Commercial" priced at $106 / sq.feet. "House" is the cheapest type of property with a $113 / sq.feet value followed by "Commercial" with an average price of $106 / sq.feet.