The prices in real estate in Little Rock, in the Arkansas 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 Little Rock has increased strongly during the last 6 months. In July, the average price per sq.feet was $117. In the following month the price per sq.feet increased considerably to $485. The price for the following two months in (September, October) had a considerable decrease of 38 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 56 % 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 $207.25 to $116.5 during November, and December.
Based upon to the price in Little Rock (cities), these have remained the same in the last 6 months. The average price during our first sample month during July, is $274,207. During August the price went through a considerable rise reaching $364,117. During the following two months (September, October) the average price had a considerable reduction of 79 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 92 %, going from $286,357 to $264,842.5 in November and December.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $265,278 they are 31 % more affordable than the average price for Little Rock. The properties with the highest average price have 4 bedrooms, Their price is 54 % more costly than the average. After that we have properties with 1 bedroom priced at $252,769.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $108 / sq.feet, with an average $120 / sq.feet price in Little Rock. The properties with the highest average prices have 1 bedroom. They are 73 % more expensive than the average followed by properties with 2 bedrooms with a price at $130 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $265,278 it is 23 % cheaper than the average price in Little Rock. "Condo" is seen as the second most affordable property type. The dearest property type is "Land" followed by "House". At a price of $267,256 it is 59 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of $65 / sq.feet followed by "Office" priced at $92 / sq.feet. "Condo" is the most costly type of property with a $157 / sq.feet cost followed by "Townhouse" with an average price of $149 / sq.feet.