The prices in real estate in Muncie, in the Indiana 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 Muncie has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $158. In the following month the price per sq.feet decreased considerably to $56. The price for the following two months in (September, October) had a considerable decrease of 61 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 71 % 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 $86.25 to $61 during November, and December.
Based upon to the price in Muncie (cities), this has fallen considerably in the last 6 months. The average price for July is $141,806. During August the price had a considerable reduction till $108,949. During the following two months (September, October) the average price fell 91 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 91 %, going from $119,480 to $108,568 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 $110,883 they are 58 % more affordable than the average price for Muncie. The properties with the highest average price have 4 bedrooms, Their price is 55 % more costly than the average. After that we have properties with 3 bedrooms priced at $106,015.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $42 / sq.feet, with an average $61 / sq.feet price in Muncie. The properties with the highest average prices have 3 bedrooms. They are 21 % more expensive than the average followed by properties with 4 bedrooms with a price at $71 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $110,883 it is 51 % cheaper than the average price in Muncie. "Apartment" is seen as the second most affordable property type. The cheapest type property is "Commercial" followed by "Land". At a price of $88,408 it is 20 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of $49 / sq.feet followed by "Apartment" priced at $53 / sq.feet. "Townhouse" is the most costly type of property with a $284 / sq.feet cost followed by "Commercial" with an average price of $54 / sq.feet.