The prices in real estate in North Salt Lake, in the Utah 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 Salt Lake has had a strong decrease during the last 6 months. In March, the average price per sq.feet was $804. In the following month the price per sq.feet increased considerably to $1,804. The price for the following two months in (May, June) had a considerable decrease of 13 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 27 % 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 $738.75 to $201.5 during July, and August.
Based upon to the price in North Salt Lake (cities), this has fallen considerably in the last 6 months. The average price during our first sample month during March, is $1,294,207. During April the price went through a considerable rise reaching $2,568,969. During the following two months (May, June) the average price had a considerable reduction of 22 % 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 $1,180,507 to $522,834, which means a 44 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $528,484 they are 50 % more affordable than the average price for North Salt Lake. The properties with the lowest average price have 1 bedroom, Their price is 12 % cheaper than the average. After that we have properties with 4 bedrooms priced at $421,397.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $148 / sq.feet, with an average $190 / sq.feet price in North Salt Lake. The properties with the lowest average prices have 1 bedroom. They are 0 % cheaper than the average followed by properties with 2 bedrooms with a price at $185 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $528,484 it is 18 % cheaper than the average price in North Salt Lake. "Townhouse" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of $448,328 it is 24 % 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 $121 / sq.feet followed by "House" priced at $153 / sq.feet. "Townhouse" is the most costly type of property with a $201 / sq.feet cost followed by "House" with an average price of $153 / sq.feet.