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 July, the average price per sq.feet was $4,856. In the following month the price per sq.feet decreased considerably to $4,029. The price for the following two months in (September, October) had a considerable decrease of 49 with regard to the prior two months. 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 $3,304.75 to $1,442.5 during November, and December.
Based upon to the price in Miami Beach (cities), this has fallen considerably in the last 6 months. In our first sample month during July, the average price is $1,746,811. In August This price remains at $1,828,666. During the following two months (September, October) the average price had a considerable reduction of 76 % 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 $1,571,322 to $1,248,069.5, which means a 79 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $1,515,563 they are 79 % more affordable than the average price for Miami Beach. The properties with the highest average price have 4 bedrooms, Their price is 188 % more costly than the average. After that we have properties with 3 bedrooms priced at $2,634,677.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $424 / sq.feet, with an average $1,187 / sq.feet price in Miami Beach. The properties with the lowest average prices have 4 bedrooms. They are 2 % cheaper than the average followed by properties with 3 bedrooms with a price at $1,081 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $1,515,563 it is 18 % cheaper than the average price in Miami Beach. "Triplex" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "Villa". At a price of $4,573,344 it is 383 % 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 $698 / sq.feet followed by "House" priced at $728 / sq.feet. "Villa" is the most costly type of property with a $11,683 / sq.feet cost followed by "Townhouse" with an average price of $5,307 / sq.feet.