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 November, the average price per sq.feet was $151. In the following month the price per sq.feet increased to $166. In the following two months the price per sq.feet has barely changed, going from $158.5 to $163 per sq.feet. The price per sq.feet has had a considerable increase of 117 % 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 $160.75 to $188.5 during March, and April.
Based upon to the price in Palm Bay (cities), this has gone up in the last 6 months. In our first sample month during November, the average price is $258,196. In December This price remains at $264,289. In the following two months the average price has remained the same with regard to the previous two months from $261,242.5 to $268,729. Based on an analysis of the first four prices and the last two months the average price has risen strongly 124 % 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 $332,510 they are 68 % more affordable than the average price for Palm Bay. The properties with the highest average price have 4 bedrooms, Their price is 13 % more costly than the average. After that we have properties with 3 bedrooms priced at $310,020.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $173 / sq.feet, with an average $192 / sq.feet price in Palm Bay. The properties with the highest average prices have 3 bedrooms. They are 8 % more expensive than the average followed by properties with 4 bedrooms with a price at $189 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $332,510 it is 58 % cheaper than the average price in Palm Bay. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $218,455 it is 2 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $78 / sq.feet followed by "Condo" priced at $181 / sq.feet. "House" is the most costly type of property with a $193 / sq.feet cost followed by "Commercial" with an average price of $186 / sq.feet.