The prices in real estate in North Miami Beach, in the Florida 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 Miami Beach has had a strong decrease during the last 6 months. In October, the average price per sq.feet was $1,304. In the following month the price per sq.feet decreased considerably to $348. The price for the following two months in (December, January) had a considerable decrease of 53 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 $631.25 to $448 during February, and March.
Based upon to the price in North Miami Beach (cities), this has fallen considerably in the last 6 months. The average price for October is $801,328. During November the price had a considerable reduction till $596,850. In the following two months the average price has remained the same with regard to the previous two months from $699,089 to $685,102. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 86 %, going from $692,095.5 to $596,840 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $614,300 they are 74 % more affordable than the average price for North Miami Beach. The properties with the highest average price have 4 bedrooms, Their price is 174 % more costly than the average. After that we have properties with 3 bedrooms priced at $789,043.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $197 / sq.feet, with an average $510 / sq.feet price in North Miami Beach. The properties with the highest average prices have 4 bedrooms. They are 10 % more expensive than the average followed by properties with 3 bedrooms with a price at $436 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $614,300 it is 27 % cheaper than the average price in North Miami Beach. "Duplex" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Townhouse". At a price of $656,756 it is 140 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $246 / sq.feet followed by "Condo" priced at $420 / sq.feet. "Villa" is the most costly type of property with a $6,049 / sq.feet cost followed by "Townhouse" with an average price of $2,396 / sq.feet.