The prices in real estate in Ithaca, in the New York 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 Ithaca has increased strongly during the last 6 months. In March, the average price per sq.feet was $156. In the following month the price per sq.feet increased considerably to $1,872. The price for the following two months in (May, June) had a considerable increment of 195 %. 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 $1,495.75 to $1,833 during July, and August.
Based upon to the price in Ithaca (cities), this has gone up in the last 6 months. The price in March is $314,924, rising in April till $341,547. In the following two months the average price has remained the same with regard to the previous two months from $328,235.5 to $323,089.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $325,662.5 and $337,282.5 between July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $341,028 they are 42 % more affordable than the average price for Ithaca. The properties with the highest average price have 4 bedrooms, Their price is 1 % more costly than the average. After that we have properties with 3 bedrooms priced at $266,382.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $143 / sq.feet, with an average $1,636 / sq.feet price in Ithaca. The properties with the lowest average prices have 1 bedroom. They are 80 % cheaper than the average followed by properties with 2 bedrooms with a price at $171 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $341,028 it is 24 % cheaper than the average price in Ithaca. "Apartment" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Commercial". At a price of $335,266 it is 1 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $144 / sq.feet followed by "Commercial" priced at $150 / sq.feet. "Land" is the cheapest type of property with a $741 / sq.feet value followed by "House" with an average price of $160 / sq.feet.