Property prices for sale in Long Island City (New York)
The prices in real estate in Long Island City, 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 Long Island City has had a strong decrease during the last 6 months. In November, the average price per sq.feet was $1,063. In the following month the price per sq.feet decreased considerably to $469. The price for the following two months in (January, February) had a considerable decrease of 77 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 82 % 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 $679 to $555 during March, and April.
Based upon to the price in Long Island City (cities), this has fallen considerably in the last 6 months. The average price for November is $1,048,219. During December the price had a considerable reduction till $760,450. During the following two months (January, February) the average price fell 89 % 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 86 %, going from $854,729.75 to $738,101 in March and April.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $749,603 they are 34 % more affordable than the average price for Long Island City. The properties with the highest average price have 2 bedrooms, Their price is 17 % more costly than the average. After that we have properties with 4 bedrooms priced at $802,495.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $546 / sq.feet, with an average $567 / sq.feet price in Long Island City. The properties with the highest average prices have 2 bedrooms. They are 47 % more expensive than the average followed by properties with 1 bedroom with a price at $784 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $749,603 it is 63 % cheaper than the average price in Long Island City. "House" is seen as the second most affordable property type. The dearest property type is "Detached House" followed by "Condo". At a price of $819,125 it is 23 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $523 / sq.feet followed by "Detached House" priced at $855 / sq.feet. "Land" is the most costly type of property with a $44,438 / sq.feet cost followed by "Condo" with an average price of $887 / sq.feet.
