The prices in real estate in Palm Beach, 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 Beach has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $457. In the following month the price per sq.feet decreased to $429. The price for the following two months in (September, October) had a considerable decrease of 81 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 82 % 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 $402 to $329.5 during November, and December.
Based upon to the price in Palm Beach (cities), this has fallen considerably in the last 6 months. In our first sample month during July, the average price is $977,588. In August This price remains at $986,175. During the following two months (September, October) the average price had a considerable reduction of 79 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 90 %, going from $878,922.75 to $787,242.5 in November and December.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $812,147 they are 64 % more affordable than the average price for Palm Beach. The properties with the highest average price have 4 bedrooms, Their price is 36 % more costly than the average. After that we have properties with 3 bedrooms priced at $562,129.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $263 / sq.feet, with an average $331 / sq.feet price in Palm Beach. The properties with the highest average prices have 1 bedroom. They are 14 % more expensive than the average followed by properties with 4 bedrooms with a price at $318 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $812,147 it is 64 % cheaper than the average price in Palm Beach. "Condo" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Apartment". At a price of $2,136,000 it is 231 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $200 / sq.feet followed by "Condo" priced at $313 / sq.feet. "Villa" is the most costly type of property with a $5,736 / sq.feet cost followed by "Apartment" with an average price of $806 / sq.feet.