The prices in real estate in Lenoir City, in the Tennessee 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 Lenoir City has increased strongly during the last 6 months. In March, the average price per sq.feet was $171. In the following month the price per sq.feet increased considerably to $542. The price for the following two months in (May, June) had a considerable increment of 142 %. The price per sq.feet has had a considerable increase of 116 % 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 $431 to $500.5 during July, and August.
Based upon to the price in Lenoir City (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during March, is $169,414. During April the price went through a considerable rise reaching $246,479. During the following two months (May, June) the average price had a considerable increase of 131 % 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 121 % 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 $289,968 they are 42 % more affordable than the average price for Lenoir City. The properties with the lowest average price have 4 bedrooms, Their price is 7 % cheaper than the average. After that we have properties with 1 bedroom priced at $167,519.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $105 / sq.feet, with an average $117 / sq.feet price in Lenoir City. The properties with the highest average prices have 4 bedrooms. They are 529 % more expensive than the average followed by properties with 1 bedroom with a price at $105 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $289,968 it is 26 % cheaper than the average price in Lenoir City. "House" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Townhouse". At a price of $214,493 it is 7 % more affordable than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Townhouse" at an average cost of $121 / sq.feet followed by "House" priced at $736 / sq.feet. "House" is the most costly type of property with a $736 / sq.feet cost followed by "Townhouse" with an average price of $121 / sq.feet.