The prices in real estate in Island Lake, in the Illinois 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 Island Lake has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $187. In the following month the price per sq.feet increased to $204. The price for the following two months in (September, October) had a considerable decrease of 67 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 76 % 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 $163.5 to $124.5 during November, and December.
Based upon to the price in Island Lake (cities), this has fallen considerably in the last 6 months. The average price for July is $407,967. During August the price had a slight fall till $385,387. During the following two months (September, October) the average price had a considerable reduction of 62 % 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 $321,600.25 to $199,612.5, which means a 62 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $187,829 they are 35 % more affordable than the average price for Island Lake. The properties with the highest average price have 4 bedrooms, Their price is 137 % more costly than the average. After that we have properties with 2 bedrooms priced at $422,388.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $113 / sq.feet, with an average $122 / sq.feet price in Island Lake. The properties with the highest average prices have 2 bedrooms. They are 337 % more expensive than the average followed by properties with 4 bedrooms with a price at $190 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most costly one. At an cost of $187,829 it is 32 % more expensive than the average price in Island Lake. "Townhouse" is seen as the second dearest property type. The dearest property type is "Commercial" followed by "Townhouse". At a price of $274,729 it is 60 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $100 / sq.feet followed by "Commercial" priced at $102 / sq.feet. "House" is the most costly type of property with a $134 / sq.feet cost followed by "Commercial" with an average price of $102 / sq.feet.