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 March, the average price per sq.feet was $178. In the following month the price per sq.feet increased considerably to $330. The price for the following two months in (May, June) had a considerable increment of 23455 %. The price per sq.feet has had a considerable increase of 267 % 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 $29,914.5 to $79,807.5 during July, and August.
Based upon to the price in Montgomery Village (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during March, is $353,378. During April the price went through a considerable rise reaching $607,237. During the following two months (May, June) the average price had a considerable increase of 136 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 110 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $715,482 they are 78 % more affordable than the average price for Montgomery Village. The properties with the lowest average price have 4 bedrooms, Their price is 21 % cheaper than the average. After that we have properties with 3 bedrooms priced at $287,930.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $149 / sq.feet, with an average $111,684 / sq.feet price in Montgomery Village. The properties with the highest average prices have 4 bedrooms. They are 20 % more expensive than the average followed by properties with 1 bedroom with a price at $80,053 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $715,482 it is 76 % cheaper than the average price in Montgomery Village. "Office" is seen as the second most affordable property type. The dearest property type is "House" followed by "Commercial". At a price of $480,278 it is 3 % 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 $1,552 / sq.feet followed by "Office" priced at $30,317 / sq.feet. "House" is the most costly type of property with a $141,034 / sq.feet cost followed by "Commercial" with an average price of $47,602 / sq.feet.