The prices in real estate in Palm Bay, in the Florida 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 Palm Bay has increased strongly during the last 6 months. In March, the average price per sq.feet was $171. In April this price pretty much remained the same at a value of $168 per sq.feet. The price for the following two months in (May, June) had a considerable increment of 132 %. The price per sq.feet has had a considerable increase of 171 % 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 to $337.5 during July, and August.
Based upon to the price in Palm Bay (cities), this has gone up in the last 6 months. The average price during our first sample month during March, is $166,509. During April the price went through a considerable rise reaching $195,123. During the following two months (May, June) the average price fell 90 % with regard to the previous two months. 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 $171,828.5 and $180,180 between July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $194,025 they are 69 % more affordable than the average price for Palm Bay. The properties with the highest average price have 4 bedrooms, Their price is 25 % more costly than the average. After that we have properties with 3 bedrooms priced at $198,599.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $113 / sq.feet, with an average $123 / sq.feet price in Palm Bay. The properties with the highest average prices have 2 bedrooms. They are 676 % more expensive than the average followed by properties with 1 bedroom with a price at $208 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $194,025 it is 90 % 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 "House". At a price of $208,918 it is 111 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of $12 / sq.feet followed by "Apartment" priced at $110 / sq.feet. "Commercial" is the most costly type of property with a $218 / sq.feet cost followed by "Condo" with an average price of $128 / sq.feet.