The prices in real estate in Lehi, in the Utah 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 Lehi has had a strong decrease during the last 6 months. In September, the average price per sq.feet was $475. In the following month the price per sq.feet decreased considerably to $159. The price for the following two months in (November, December) had a considerable decrease of 48 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 71 % 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 $234 to $166.5 during January, and February.
Based upon to the price in Lehi (cities), these have remained the same in the last 6 months. In our first sample month during September, the average price is $443,248. In October This price remains at $434,600. During the following two months (November, December) the average price fell 89 % 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 gone up 111 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of $476,158 they are 34 % more affordable than the average price for Lehi. The properties with the highest average price have 4 bedrooms, Their price is 4 % more costly than the average. After that we have properties with 2 bedrooms priced at $379,327.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $139 / sq.feet, with an average $167 / sq.feet price in Lehi. The properties with the highest average prices have 2 bedrooms. They are 14 % more expensive than the average followed by properties with 1 bedroom with a price at $173 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $476,158 it is 59 % cheaper than the average price in Lehi. "Townhouse" is seen as the second most affordable property type. The cheapest type property is "Office" followed by "Condo". At a price of $366,895 it is 18 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of $125 / sq.feet followed by "Duplex" priced at $160 / sq.feet. "House" is the most costly type of property with a $1,376 / sq.feet cost followed by "Townhouse" with an average price of $292 / sq.feet.