The prices in real estate in Long Island City, in the New York region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Long Island City has increased during the last 6 months. In April, the average price per sq.feet was $1,297. In May this price pretty much remained the same at a value of $1,261 per sq.feet. The price for the following two months in (June, July) decreased 95 % with regard to the prior two months. The price per sq.feet has had a considerable increase of 137 % 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 $1,244.75 to $1,708.5 during August, and September.
Based upon to the price in Long Island City (cities), these have remained the same in the last 6 months. In our first sample month during April, the average price is $1,216,377. In May This price remains at $1,163,106. In the following two months the average price has remained the same with regard to the previous two months from $1,189,741.5 to $1,145,392. Based on an analysis of the first four prices and the last two months the average price has gone up 106 % 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 $1,245,571 they are 34 % more affordable than the average price for Long Island City. The properties with the highest average price have 3 bedrooms, Their price is 66 % more costly than the average. After that we have properties with 2 bedrooms priced at $1,439,000.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the most costly ones at a cost of $3,725 / sq.feet, with an average $2,142 / sq.feet price in Long Island City. The properties with the highest average prices have 4 bedrooms. They are 624 % more expensive than the average followed by properties with 3 bedrooms with a price at $5,492 / sq.feet.
The graph displaying the average prices displays the property type "Detached House" as the most affordable one. At an cost of $1,245,571 it is 23 % cheaper than the average price in Long Island City. "House" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "House". At a price of $1,149,262 it is 7 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Detached House" at an average cost of $898 / sq.feet followed by "House" priced at $15,435 / sq.feet. "Apartment" is the most costly type of property with a $15,515 / sq.feet cost followed by "House" with an average price of $15,435 / sq.feet.