The prices in real estate in Miami Beach, 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 Beach has had a strong decrease during the last 6 months. In March, the average price per sq.feet was $7,398. In April this price pretty much remained the same at a value of $7,701 per sq.feet. The price for the following two months in (May, June) had a considerable decrease of 73 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 68 % 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 $6,528.5 to $4,442.5 during July, and August.
Based upon to the price in Miami Beach (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during March, is $1,599,627. During April the price went through a considerable rise reaching $1,980,762. During the following two months (May, June) the average price had a considerable increase of 156 % 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 $2,294,738 to $1,787,738.5, which means a 78 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $1,828,666 they are 50 % more affordable than the average price for Miami Beach. The properties with the highest average price have 1 bedroom, Their price is 181 % more costly than the average. After that we have properties with 4 bedrooms priced at $2,051,531.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $197 / sq.feet, with an average $4,029 / sq.feet price in Miami Beach. The properties with the highest average prices have 4 bedrooms. They are 2 % more expensive than the average followed by properties with 1 bedroom with a price at $1,164 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $1,828,666 it is 37 % cheaper than the average price in Miami Beach. "Duplex" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "Villa". At a price of $3,365,412 it is 302 % 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 $739 / sq.feet followed by "Duplex" priced at $4,866 / sq.feet. "House" is the most costly type of property with a $9,807 / sq.feet cost followed by "Villa" with an average price of $9,583 / sq.feet.