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 September, the average price per sq.feet was $506. In October this price pretty much remained the same at a value of $499 per sq.feet. The price for the following two months in (November, December) decreased 93 % with regard to the prior two months. The price per sq.feet has had a considerable increase of 369 % 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 $484.25 to $1,788 during January, and February.
Based upon to the price in Miami (cities), this has gone downing the last 6 months. In our first sample month during September, the average price is $1,000,169. In October This price remains at $993,769. During the following two months (November, December) the average price fell 90 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $947,051.75 to $774,912, which means a 82 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $671,420 they are 42 % more affordable than the average price for Miami. The properties with the highest average price have 4 bedrooms, Their price is 91 % more costly than the average. After that we have properties with 3 bedrooms priced at $602,899.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $362 / sq.feet, with an average $3,094 / sq.feet price in Miami. The properties with the lowest average prices have 2 bedrooms. They are 85 % cheaper than the average followed by properties with 1 bedroom with a price at $459 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $671,420 it is 21 % cheaper than the average price in Miami. "Villa" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "Condo". At a price of $747,603 it is 15 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $305 / sq.feet followed by "Condo" priced at $487 / sq.feet. "Land" is the most costly type of property with a $28,428 / sq.feet cost followed by "Villa" with an average price of $3,298 / sq.feet.