The prices in real estate in North Palm 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 Palm Beach has had a strong decrease during the last 6 months. In September, the average price per sq.feet was $2,839. In the following month the price per sq.feet decreased to $2,447. In the following two months the price per sq.feet has barely changed, going from $2,643 to $2,561.5 per sq.feet. The price per sq.feet has had a considerable deflation of 80 % 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 $2,602.25 to $2,084.5 during January, and February.
Based upon to the price in North Palm Beach (cities), this has gone up in the last 6 months. The average price for September is $1,285,375. During October the price had a slight fall till $1,208,411. During the following two months (November, December) the price has had an average incrementation from $1,246,893 to $1,359,197. Based on an analysis of the first four prices and the last two months the average price has risen strongly 116 % 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 $1,555,048 they are 83 % more affordable than the average price for North Palm Beach. The properties with the highest average price have 4 bedrooms, Their price is 70 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,971,136.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $368 / sq.feet, with an average $2,116 / sq.feet price in North Palm Beach. The properties with the lowest average prices have 4 bedrooms. They are 60 % cheaper than the average followed by properties with 3 bedrooms with a price at $797 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $1,555,048 it is 57 % cheaper than the average price in North Palm Beach. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Villa". At a price of $2,719,103 it is 325 % 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 $422 / sq.feet followed by "Detached House" priced at $745 / sq.feet. "Land" is the most costly type of property with a $4,612,300 / sq.feet cost followed by "Villa" with an average price of $9,936 / sq.feet.