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 December, the average price per sq.feet was $1,187. In the following month the price per sq.feet decreased considerably to $859. The price for the following two months in (February, March) decreased 88 % with regard to the prior two months. The price per sq.feet has increased 115 % 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 $960.5 to $1,104 during April, and May.
Based upon to the price in Miami Beach (cities), this has fallen considerably in the last 6 months. The average price for December is $1,515,563. During January the price had a considerable reduction till $916,650. During the following two months (February, March) the average price had a considerable reduction of 79 % 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 risen strongly 129 % 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 $1,431,502 they are 75 % more affordable than the average price for Miami Beach. The properties with the highest average price have 4 bedrooms, Their price is 256 % more costly than the average. After that we have properties with 3 bedrooms priced at $2,800,890.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $545 / sq.feet, with an average $1,193 / sq.feet price in Miami Beach. The properties with the highest average prices have 4 bedrooms. They are 16 % more expensive than the average followed by properties with 3 bedrooms with a price at $1,106 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $1,431,502 it is 83 % cheaper than the average price in Miami Beach. "Condo" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Triplex". At a price of $2,360,736 it is 363 % 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 $644 / sq.feet followed by "House" priced at $905 / sq.feet. "Villa" is the most costly type of property with a $13,917 / sq.feet cost followed by "Triplex" with an average price of $10,737 / sq.feet.