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 August, the average price per sq.feet was $317. In the following month the price per sq.feet decreased considerably to $148. The price for the following two months in (October, November) had a considerable decrease of 56 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 75 % 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 $181.25 to $136.5 during December, and January.
Based upon to the price in Palm Bay (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during August, is $99,818. During September the price went through a considerable rise reaching $203,802. During the following two months (October, November) the average price had a considerable increase of 143 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 119 % during the last two months.
The graph showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 35 % cheaper than the average price of $145,708 in Palm Bay. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 35 % more affordable than the average aforementioned.
With regard to the average prices per sq.feet those properties with 1 bedroom are 61 % more costly than the average price of ($221 / sq.feet) in Palm Bay. Properties with the most expensive price based upon to the number of bedrooms / sq.feet are those with 1 bedroom. They are 61 % more costly than the average value aforementioned.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $225,416 it is 37 % cheaper than the average price in Palm Bay. "Apartment" is seen as the second most affordable property type. The dearest property type is "Condo" followed by "Apartment". At a price of $145,708 it is 80 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $121 / sq.feet followed by "Commercial" priced at $201 / sq.feet. "Apartment" is the most costly type of property with a $221 / sq.feet cost followed by "Commercial" with an average price of $201 / sq.feet.