The prices in real estate in Miami, in the Florida 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 Miami has increased strongly during the last 6 months. In November, the average price per sq.feet was $232. In the following month the price per sq.feet increased considerably to $648. The price for the following two months in (January, February) had a considerable increment of 214 %. The price per sq.feet has had a considerable deflation of 44 % 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 $691.75 to $303.5 during March, and April.
Based upon to the price in Miami (cities), this has gone up considerably in the last 6 months. The price in November is $420,602, rising in December till $467,033. During the following two months (January, February) the average price had a considerable increase of 129 % with regard to the previous two months. 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 $486,180 they are 12 % more affordable than the average price for Miami. The properties with the highest average price have 1 bedroom, Their price is 41 % more costly than the average. After that we have properties with 4 bedrooms priced at $482,005.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $216 / sq.feet, with an average $307 / sq.feet price in Miami. The properties with the highest average prices have 1 bedroom. They are 99 % more expensive than the average followed by properties with 2 bedrooms with a price at $357 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $486,180 it is 31 % cheaper than the average price in Miami. "Condo" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Apartment". At a price of $721,452 it is 67 % 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 $145 / sq.feet followed by "Office" priced at $231 / sq.feet. "Apartment" is the most costly type of property with a $1,332 / sq.feet cost followed by "Condo" with an average price of $303 / sq.feet.