The prices in real estate in Media, in the Pennsylvania 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 Media has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $6,450. In the following month the price per sq.feet decreased to $6,119. The price for the following two months in (September, October) had a considerable decrease of 17 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 6 % 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 $3,675 to $232 during November, and December.
Based upon to the price in Media (cities), these have remained the same in the last 6 months. In our first sample month during July, the average price is $601,226. In August This price remains at $612,229. During the following two months (September, October) the average price fell 94 % 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 95 %, going from $589,000.5 to $559,284 in November and December.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $559,855 they are 76 % more affordable than the average price for Media. The properties with the highest average price have 4 bedrooms, Their price is 10 % more costly than the average. After that we have properties with 3 bedrooms priced at $487,067.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $165 / sq.feet, with an average $228 / sq.feet price in Media. The properties with the highest average prices have 2 bedrooms. They are 11668 % more expensive than the average followed by properties with 4 bedrooms with a price at $1,302 / sq.feet.
The graph displaying the average prices displays the property type "Duplex" as the most affordable one. At an cost of $559,855 it is 23 % cheaper than the average price in Media. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of $491,589 it is 8 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $152 / sq.feet followed by "Multi Family House" priced at $153 / sq.feet. "Townhouse" is the most costly type of property with a $4,048 / sq.feet cost followed by "House" with an average price of $822 / sq.feet.