The prices in real estate in Ithaca, in the New York 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 Ithaca has had a strong decrease during the last 6 months. In June, the average price per sq.feet was $533. In the following month the price per sq.feet increased considerably to $1,245. The price for the following two months in (August, September) had a considerable decrease of 17 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 31 % 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 $520.75 to $162.5 during October, and November.
Based upon to the price in Ithaca (cities), these have remained the same in the last 6 months. The average price for June is $341,568. During July the price had a slight fall till $304,965. During the following two months (August, September) the average price fell 95 % 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 124 % during the last two months.
The graph showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 36 % cheaper than the average price of $263,456 in Ithaca. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 36 % more affordable than the average aforementioned.
With regard to the average prices per sq.feet those properties with 1 bedroom are 280 % more costly than the average price of ($623 / sq.feet) in Ithaca. Properties with the most expensive price based upon to the number of bedrooms / sq.feet are those with 1 bedroom. They are 280 % more costly than the average value aforementioned.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $411,315 it is 36 % cheaper than the average price in Ithaca. "Apartment" is seen as the second most affordable property type. The cheapest type property is "Commercial" followed by "Duplex". At a price of $336,275 it is 18 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $153 / sq.feet followed by "Commercial" priced at $159 / sq.feet. "Land" is the most costly type of property with a $750 / sq.feet cost followed by "Apartment" with an average price of $623 / sq.feet.