The prices in real estate in Monroe, in the Michigan 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 Monroe has increased strongly during the last 6 months. In January, the average price per sq.feet was $79. In the following month the price per sq.feet increased considerably to $96. The price for the following two months in (March, April) had a considerable increment of 199 %. The price per sq.feet has decreased 87 % 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 $130.75 to $114 during May, and June.
Based upon to the price in Monroe (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during January, is $120,414. During February the price went through a considerable rise reaching $177,110. During the following two months (March, April) the average price had a considerable increase of 253 % 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 $262,881.25 to $180,717.5, which means a 69 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $187,795 they are 52 % more affordable than the average price for Monroe. The properties with the lowest average price have 3 bedrooms, Their price is 31 % cheaper than the average. After that we have properties with 1 bedroom priced at $124,350.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $53 / sq.feet, with an average $118 / sq.feet price in Monroe. The properties with the lowest average prices have 3 bedrooms. They are 26 % cheaper than the average followed by properties with 2 bedrooms with a price at $85 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $187,795 it is 61 % cheaper than the average price in Monroe. "Condo" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Condo". At a price of $104,761 it is 35 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $54 / sq.feet followed by "House" priced at $69 / sq.feet. "Condo" is the most costly type of property with a $506 / sq.feet cost followed by "House" with an average price of $69 / sq.feet.