The prices in real estate in Melrose Park, in the Illinois 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 Melrose Park has increased strongly during the last 6 months. In June, the average price per sq.feet was $146. In the following month the price per sq.feet increased considerably to $642. The price for the following two months in (August, September) had a considerable decrease of 37 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 53 % 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 $270.5 to $144.5 during October, and November.
Based upon to the price in Melrose Park (cities), these have remained the same in the last 6 months. In our first sample month during June, the average price is $234,666. In July This price remains at $225,925. During the following two months (August, September) the price has had an average incrementation from $230,295.5 to $249,860.5. Based on an analysis of the first four prices and the last two months the average price has gone up 105 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of $252,576 they are 51 % more affordable than the average price for Melrose Park. The properties with the lowest average price have 1 bedroom, Their price is 16 % cheaper than the average. After that we have properties with 2 bedrooms priced at $212,004.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $139 / sq.feet, with an average $146 / sq.feet price in Melrose Park. The properties with the highest average prices have 3 bedrooms. They are 534 % more expensive than the average followed by properties with 1 bedroom with a price at $151 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $252,576 it is 16 % cheaper than the average price in Melrose Park. "Commercial" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $211,568 it is 2 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $121 / sq.feet followed by "House" priced at $146 / sq.feet. "House" is the cheapest type of property with a $146 / sq.feet value followed by "Commercial" with an average price of $121 / sq.feet.