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 May, the average price per sq.feet was $555. In June this price pretty much remained the same at a value of $562 per sq.feet. The price for the following two months in (July, August) had a considerable decrease of 69 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 73 % 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 $472.5 to $343.5 during September, and October.
Based upon to the price in North Palm Beach (cities), this has fallen considerably in the last 6 months. In our first sample month during May, the average price is $1,943,762. In June This price remains at $1,867,234. During the following two months (July, August) the average price had a considerable reduction of 53 % 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 $1,460,327 to $837,070.5, which means a 57 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $852,250 they are 82 % more affordable than the average price for North Palm Beach. The properties with the highest average price have 4 bedrooms, Their price is 50 % more costly than the average. After that we have properties with 3 bedrooms priced at $699,840.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $198 / sq.feet, with an average $341 / sq.feet price in North Palm Beach. The properties with the highest average prices have 4 bedrooms. They are 17 % more expensive than the average followed by properties with 3 bedrooms with a price at $313 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $852,250 it is 58 % cheaper than the average price in North Palm Beach. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Land". At a price of $736,031 it is 75 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $208 / sq.feet followed by "Condo" priced at $260 / sq.feet. "House" is the most costly type of property with a $411 / sq.feet cost followed by "Land" with an average price of $318 / sq.feet.