The prices in real estate in Montgomery Village, in the Maryland 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 Montgomery Village has increased strongly during the last 6 months. In July, the average price per sq.feet was $47,931. In the following month the price per sq.feet increased considerably to $111,684. In the following two months the price per sq.feet has barely changed, going from $79,807.5 to $78,845.5 per sq.feet. The price per sq.feet has decreased 88 % 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 $79,326.5 to $69,793 during November, and December.
Based upon to the price in Montgomery Village (cities), this has gone up in the last 6 months. The average price during our first sample month during July, is $524,729. During August the price went through a considerable rise reaching $715,482. In the following two months the average price has remained the same with regard to the previous two months from $620,105.5 to $591,742. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 89 %, going from $605,923.75 to $540,358 in November and December.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $532,729 they are 79 % more affordable than the average price for Montgomery Village. The properties with the lowest average price have 4 bedrooms, Their price is 28 % cheaper than the average. After that we have properties with 3 bedrooms priced at $321,064.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $129 / sq.feet, with an average $60,100 / sq.feet price in Montgomery Village. The properties with the lowest average prices have 4 bedrooms. They are 99 % cheaper than the average followed by properties with 3 bedrooms with a price at $181 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $532,729 it is 68 % cheaper than the average price in Montgomery Village. "Apartment" is seen as the second most affordable property type. The cheapest type property is "Condo" followed by "Commercial". At a price of $478,358 it is 4 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $1,544 / sq.feet followed by "Apartment" priced at $2,282 / sq.feet. "Commercial" is the cheapest type of property with a $47,410 / sq.feet value followed by "Office" with an average price of $30,193 / sq.feet.