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 June, the average price per sq.feet was $1,644. In the following month the price per sq.feet increased considerably to $2,446. The price for the following two months in (August, September) had a considerable increment of 136 %. The price per sq.feet has decreased 88 % 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 $2,415 to $2,115.5 during October, and November.
Based upon to the price in Miami (cities), these have remained the same in the last 6 months. The average price for June is $1,011,351. During July the price had a slight fall till $909,944. In the following two months the average price has remained the same with regard to the previous two months from $960,647.5 to $984,157.5. Based on an analysis of the first four prices and the last two months the average price has gone up 107 % 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 $1,051,650 they are 54 % more affordable than the average price for Miami. The properties with the highest average price have 4 bedrooms, Their price is 17 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,029,965.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $529 / sq.feet, with an average $2,050 / sq.feet price in Miami. The properties with the lowest average prices have 2 bedrooms. They are 70 % cheaper than the average followed by properties with 1 bedroom with a price at $616 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $1,051,650 it is 29 % cheaper than the average price in Miami. "Villa" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "Land". At a price of $2,655,694 it is 154 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Detached House" at an average cost of $584 / sq.feet followed by "Condo" priced at $640 / sq.feet. "Land" is the most costly type of property with a $916,982 / sq.feet cost followed by "Apartment" with an average price of $7,913 / sq.feet.