Property prices for sale in Otsego (Michigan)
The prices in real estate in Otsego, in the Michigan 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 Otsego has increased strongly during the last 6 months. In October, the average price per sq.feet was $197. In November this price pretty much remained the same at a value of $203 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $200 to $194.5 per sq.feet. The price per sq.feet has had a considerable increase of 349 % 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 $197.25 to $688 during February, and March.
Based upon to the price in Otsego (cities), these have remained the same in the last 6 months. The average price for October is $431,816. During November the price had a slight fall till $398,491. In the following two months the average price has remained the same with regard to the previous two months from $415,153.5 to $412,420.5. Based on an analysis of the first four prices and the last two months the average price has gone up 110 % 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 $457,565 they are 50 % more affordable than the average price for Otsego. The properties with the highest average price have 4 bedrooms, Their price is 6 % more costly than the average. After that we have properties with 3 bedrooms priced at $430,087.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $151 / sq.feet, with an average $1,160 / sq.feet price in Otsego. The properties with the lowest average prices have 3 bedrooms. They are 81 % cheaper than the average followed by properties with 4 bedrooms with a price at $188 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $457,565 it is 15 % cheaper than the average price in Otsego. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Apartment". At a price of $462,719 it is 89 % 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 $29 / sq.feet followed by "House" priced at $180 / sq.feet. "Land" is the most costly type of property with a $40,814 / sq.feet cost followed by "Apartment" with an average price of $201 / sq.feet.
