The prices in real estate in Miami, in the Florida 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 Miami has had a strong decrease during the last 6 months. In December, the average price per sq.feet was $1,210. In the following month the price per sq.feet decreased considerably to $1,018. The price for the following two months in (February, March) had a considerable decrease of 69 with regard to the prior two months. The price per sq.feet has barely changed in the last two months compared to the average price of the previous four months going from an average price of $943.25 to $941.5 during April y May
Based upon to the price in Miami (cities), this has gone up in the last 6 months. In our first sample month during December, the average price is $730,174. In January This price remains at $731,991. During the following two months (February, March) the price has had an average incrementation from $731,082.5 to $777,623.5. 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 1 bedroom are the cheapest ones. At a price of $774,820 they are 39 % more affordable than the average price for Miami. The properties with the highest average price have 4 bedrooms, Their price is 13 % more costly than the average. After that we have properties with 3 bedrooms priced at $698,290.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $365 / sq.feet, with an average $820 / sq.feet price in Miami. The properties with the lowest average prices have 1 bedroom. They are 28 % cheaper than the average followed by properties with 2 bedrooms with a price at $562 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $774,820 it is 36 % cheaper than the average price in Miami. "Condo" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Apartment". At a price of $2,246,890 it is 856 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $588 / sq.feet followed by "Townhouse" priced at $819 / sq.feet. "Land" is the most costly type of property with a $59,907 / sq.feet cost followed by "Apartment" with an average price of $10,423 / sq.feet.