The prices in real estate in Montauk, in the New York 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 Montauk has increased strongly during the last 6 months. In November, the average price per sq.feet was $1,649. In the following month the price per sq.feet decreased considerably to $1,096. In the following two months the price per sq.feet has barely changed, going from $1,372.5 to $1,353 per sq.feet. The price per sq.feet has had a considerable increase of 1298 % 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 $1,362.75 to $17,690 during March, and April.
Based upon to the price in Montauk (cities), this has gone up in the last 6 months. In our first sample month during November, the average price is $3,308,563. In December This price remains at $3,295,361. In the following two months the average price has remained the same with regard to the previous two months from $3,301,962 to $3,278,357.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 117 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $4,292,922 they are 74 % more affordable than the average price for Montauk. The properties with the lowest average price have 4 bedrooms, Their price is 37 % cheaper than the average. After that we have properties with 3 bedrooms priced at $2,034,935.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $771 / sq.feet, with an average $1,610 / sq.feet price in Montauk. The properties with the lowest average prices have 3 bedrooms. They are 34 % cheaper than the average followed by properties with 2 bedrooms with a price at $1,006 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $4,292,922 it is 41 % cheaper than the average price in Montauk. "Land" is seen as the second most affordable property type. The cheapest type property is "Land" followed by "Apartment". At a price of $2,547,901 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 $945 / sq.feet followed by "Land" priced at $6,262 / sq.feet. "Land" is the most costly type of property with a $6,262 / sq.feet cost followed by "Apartment" with an average price of $945 / sq.feet.