The prices in real estate in Midlothian, in the Virginia 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 Midlothian has had a strong decrease during the last 6 months. In May, the average price per sq.feet was $3,548. In the following month the price per sq.feet decreased to $3,249. The price for the following two months in (July, August) had a considerable decrease of 80 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 74 % 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 $3,054.75 to $2,254.5 during September, and October.
Based upon to the price in Midlothian (cities), this has gone downing the last 6 months. In our first sample month during May, the average price is $448,997. In June This price remains at $464,516. During the following two months (July, August) the average price fell 86 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $425,253 and $406,620 between September and October.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $438,497 they are 40 % more affordable than the average price for Midlothian. The properties with the lowest average price have 1 bedroom, Their price is 1 % cheaper than the average. After that we have properties with 4 bedrooms priced at $419,664.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $139 / sq.feet, with an average $496 / sq.feet price in Midlothian. The properties with the lowest average prices have 2 bedrooms. They are 20 % cheaper than the average followed by properties with 3 bedrooms with a price at $162 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $438,497 it is 58 % cheaper than the average price in Midlothian. "Land" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "Office". At a price of $469,564 it is 7 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of $111 / sq.feet followed by "Office" priced at $127 / sq.feet. "House" is the most costly type of property with a $1,236 / sq.feet cost followed by "Apartment" with an average price of $151 / sq.feet.