The prices in real estate in New York, in the New York 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 York has had a strong decrease during the last 6 months. In February, the average price per sq.feet was $12,153. In the following month the price per sq.feet decreased considerably to $4,920. The price for the following two months in (April, May) had a considerable decrease of 23 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 37 % 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 $5,245.25 to $1,955.5 during June, and July.
Based upon to the price in New York (cities), these have remained the same in the last 6 months. The average price during our first sample month during February, is $2,567,691. During March the price went through a considerable rise reaching $3,271,985. In the following two months the average price has remained the same with regard to the previous two months from $2,919,838 to $2,997,937. During the last two months the average price has had a strong fall compared to the previous four going from $2,958,887.5 to $1,945,703, which means a 66 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $1,812,362 they are 45 % more affordable than the average price for New York. The properties with the highest average price have 4 bedrooms, Their price is 223 % more costly than the average. After that we have properties with 3 bedrooms priced at $2,768,555.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $1,798 / sq.feet, with an average $2,045 / sq.feet price in New York. The properties with the highest average prices have 4 bedrooms. They are 204 % more expensive than the average followed by properties with 3 bedrooms with a price at $3,507 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $1,812,362 it is 8 % cheaper than the average price in New York. "Apartment" is seen as the second most affordable property type. The dearest property type is "Condo" followed by "Townhouse". At a price of $2,470,061 it is 78 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $1,504 / sq.feet followed by "Condo" priced at $2,172 / sq.feet. "Townhouse" is the most costly type of property with a $14,302 / sq.feet cost followed by "House" with an average price of $6,144 / sq.feet.