The prices in real estate in Melvindale, in the Michigan 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 Melvindale has increased strongly during the last 6 months. In November, the average price per sq.feet was $114. In the following month the price per sq.feet increased to $130. In the following two months the price per sq.feet has increased 107 %, going from $122 to $130 per sq.feet. The price per sq.feet has increased 108 % 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 $126 to $136.5 during March, and April.
Based upon to the price in Melvindale (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is $92,700. During December the price went through a considerable rise reaching $152,467. In the following two months the average price has remained the same with regard to the previous two months from $122,583.5 to $117,826.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 123 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 4 bedrooms are the cheapest ones. At a price of $137,905 they are 56 % more affordable than the average price for Melvindale. The properties with the lowest average price have 1 bedroom, Their price is 56 % cheaper than the average. After that we have properties with 2 bedrooms priced at $60,881.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $31 / sq.feet, with an average $142 / sq.feet price in Melvindale. The properties with the lowest average prices have 1 bedroom. They are 70 % cheaper than the average followed by properties with 2 bedrooms with a price at $37 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $137,905 it is 56 % cheaper than the average price in Melvindale. "Apartment" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "Townhouse". At a price of $60,454 it is 56 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $30 / sq.feet followed by "Apartment" priced at $31 / sq.feet. "Apartment" is the cheapest type of property with a $31 / sq.feet value followed by "Townhouse" with an average price of $30 / sq.feet.