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 April, the average price per sq.feet was $4,051. In the following month the price per sq.feet decreased considerably to $584. The price for the following two months in (June, July) had a considerable increment of 119 %. The price per sq.feet has had a considerable deflation of 60 % 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 $2,539.75 to $1,513 during August, and September.
Based upon to the price in North Miami Beach (cities), these have remained the same in the last 6 months. The average price during our first sample month during April, is $1,043,141. During May the price went through a considerable rise reaching $1,369,408. During the following two months (June, July) the average price fell 86 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $1,119,468.25 to $792,282.5, which means a 71 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $560,983 they are 66 % more affordable than the average price for North Miami Beach. The properties with the highest average price have 4 bedrooms, Their price is 183 % more costly than the average. After that we have properties with 3 bedrooms priced at $749,077.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $231 / sq.feet, with an average $364 / sq.feet price in North Miami Beach. The properties with the highest average prices have 4 bedrooms. They are 43 % more expensive than the average followed by properties with 3 bedrooms with a price at $396 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $560,983 it is 15 % cheaper than the average price in North Miami Beach. "Condo" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "Villa". At a price of $1,571,215 it is 347 % 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 $301 / sq.feet followed by "Condo" priced at $345 / sq.feet. "Villa" is the most costly type of property with a $5,222 / sq.feet cost followed by "Apartment" with an average price of $623 / sq.feet.