The prices in real estate in Odessa, in the Texas region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Odessa has increased strongly during the last 6 months. In March, the average price per sq.feet was $90. In the following month the price per sq.feet increased to $100. In the following two months the price per sq.feet has increased 110 %, going from $95 to $104.5 per sq.feet. The price per sq.feet has had a considerable increase of 357 % 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 $99.75 to $356 during July, and August.
Based upon to the price in Odessa (cities), this has gone up considerably in the last 6 months. The price in March is $173,525, rising in April till $186,466. In the following two months the average price has remained the same with regard to the previous two months from $179,995.5 to $185,376.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 375 % 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 $920,423 they are 91 % more affordable than the average price for Odessa. The properties with the lowest average price have 4 bedrooms, Their price is 67 % cheaper than the average. After that we have properties with 3 bedrooms priced at $186,678.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $95 / sq.feet, with an average $492 / sq.feet price in Odessa. The properties with the lowest average prices have 1 bedroom. They are 71 % cheaper than the average followed by properties with 4 bedrooms with a price at $128 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $920,423 it is 79 % cheaper than the average price in Odessa. "Townhouse" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Condo". At a price of $253,458 it is 72 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $104 / sq.feet followed by "Townhouse" priced at $106 / sq.feet. "House" is the cheapest type of property with a $121 / sq.feet value followed by "Condo" with an average price of $111 / sq.feet.