The prices in real estate in New Bedford, in the Massachusetts 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 New Bedford has had a strong decrease during the last 6 months. In May, the average price per sq.feet was $1,059. In June this price pretty much remained the same at a value of $1,091 per sq.feet. The price for the following two months in (July, August) had a considerable decrease of 65 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 15 % 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 $885.25 to $128.5 during September, and October.
Based upon to the price in New Bedford (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during May, is $210,482. During June the price went through a considerable rise reaching $245,444. During the following two months (July, August) the price has had an average incrementation from $227,963 to $260,000.5. Based on an analysis of the first four prices and the last two months the average price has gone up 111 % 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 $267,631 they are 75 % more affordable than the average price for New Bedford. The properties with the lowest average price have 3 bedrooms, Their price is 2 % cheaper than the average. After that we have properties with 4 bedrooms priced at $259,431.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $106 / sq.feet, with an average $125 / sq.feet price in New Bedford. The properties with the highest average prices have 2 bedrooms. They are 69 % more expensive than the average followed by properties with 3 bedrooms with a price at $170 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $267,631 it is 33 % cheaper than the average price in New Bedford. "House" is seen as the second most affordable property type. The dearest property type is "Duplex" followed by "Office". At a price of $275,871 it is 35 % 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 $113 / sq.feet followed by "House" priced at $136 / sq.feet. "Office" is the most costly type of property with a $7,686 / sq.feet cost followed by "Duplex" with an average price of $3,464 / sq.feet.