The prices in real estate in Otsego, in the Michigan 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 Otsego has had a strong decrease during the last 6 months. In February, the average price per sq.feet was $1,350. In March this price pretty much remained the same at a value of $1,321 per sq.feet. The price for the following two months in (April, May) had a considerable decrease of 61 with regard to the prior two months. The price per sq.feet has had a considerable increase of 125 % 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 $1,074.5 to $1,339.5 during June, and July.
Based upon to the price in Otsego (cities), these have remained the same in the last 6 months. In our first sample month during February, the average price is $336,771. In March This price remains at $338,129. In the following two months the average price has remained the same with regard to the previous two months from $337,450 to $353,856.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $345,653.25 and $339,928 between June and July.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of $355,937 they are 12 % 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 2 bedrooms priced at $368,237.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $135 / sq.feet, with an average $663 / sq.feet price in Otsego. The properties with the lowest average prices have 2 bedrooms. They are 69 % cheaper than the average followed by properties with 3 bedrooms with a price at $147 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $355,937 it is 2 % cheaper than the average price in Otsego. "Commercial" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $347,297 it is 1 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $141 / sq.feet followed by "House" priced at $144 / sq.feet. "House" is the cheapest type of property with a $144 / sq.feet value followed by "Commercial" with an average price of $141 / sq.feet.