The prices in real estate in Palm Bay, 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 Palm Bay has had a strong decrease during the last 6 months. In January, the average price per sq.feet was $507. In the following month the price per sq.feet decreased considerably to $297. The price for the following two months in (March, April) had a considerable decrease of 50 with regard to the prior two months. The price per sq.feet has decreased 90 % 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 $301.5 to $270.5 during May, and June.
Based upon to the price in Palm Bay (cities), these have remained the same in the last 6 months. In our first sample month during January, the average price is $127,524. In February This price remains at $132,436. During the following two months (March, April) the price has had an average incrementation from $129,980 to $140,833.5. During the last two months the average price has had a strong fall compared to the previous four going from $135,406.75 to $111,671, which means a 82 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $104,499 they are 42 % more affordable than the average price for Palm Bay. The properties with the highest average price have 4 bedrooms, Their price is 131 % more costly than the average. After that we have properties with 3 bedrooms priced at $197,605.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $108 / sq.feet, with an average $201 / sq.feet price in Palm Bay. The properties with the highest average prices have 2 bedrooms. They are 372 % more expensive than the average followed by properties with 1 bedroom with a price at $203 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $104,499 it is 81 % cheaper than the average price in Palm Bay. "Commercial" is seen as the second most affordable property type. The dearest property type is "Condo" followed by "Apartment". At a price of $207,873 it is 288 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $7 / sq.feet followed by "Apartment" priced at $117 / sq.feet. "Commercial" is the most costly type of property with a $208 / sq.feet cost followed by "Condo" with an average price of $118 / sq.feet.