The prices in real estate in North Hollywood, in the California 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 North Hollywood has had a strong decrease during the last 6 months. In May, the average price per sq.feet was $1,021. In the following month the price per sq.feet decreased considerably to $624. The price for the following two months in (July, August) had a considerable increment of 132 %. The price per sq.feet has had a considerable deflation of 48 % 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 $954.25 to $460 during September, and October.
Based upon to the price in North Hollywood (cities), this has gone up in the last 6 months. In our first sample month during May, the average price is $616,705. In June This price remains at $602,414. During the following two months (July, August) the average price had a considerable increase of 120 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $671,969.75 and $666,033.5 between September and October.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $732,285 they are 40 % more affordable than the average price for North Hollywood. The properties with the highest average price have 4 bedrooms, Their price is 32 % more costly than the average. After that we have properties with 3 bedrooms priced at $734,084.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $452 / sq.feet, with an average $472 / sq.feet price in North Hollywood. The properties with the highest average prices have 1 bedroom. They are 39 % more expensive than the average followed by properties with 2 bedrooms with a price at $505 / sq.feet.
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of $732,285 it is 12 % cheaper than the average price in North Hollywood. "Condo" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Condo". At a price of $645,025 it is 6 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of $346 / sq.feet followed by "Condo" priced at $350 / sq.feet. "House" is the most costly type of property with a $495 / sq.feet cost followed by "Condo" with an average price of $350 / sq.feet.