The prices in real estate in Palm Desert, in the California 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 Desert has had a strong decrease during the last 6 months. In May, the average price per sq.feet was $437. In the following month the price per sq.feet decreased considerably to $253. The price for the following two months in (July, August) had a considerable increment of 147 %. The price per sq.feet has had a considerable deflation of 52 % 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 $426.75 to $220.5 during September, and October.
Based upon to the price in Palm Desert (cities), this has gone up in the last 6 months. The average price during our first sample month during May, is $473,877. During June the price went through a considerable rise reaching $716,382. During the following two months (July, August) the average price had a considerable reduction of 78 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $530,330.25 to $424,884.5, which means a 80 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $413,163 they are 48 % more affordable than the average price for Palm Desert. The properties with the highest average price have 4 bedrooms, Their price is 129 % more costly than the average. After that we have properties with 3 bedrooms priced at $490,227.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $208 / sq.feet, with an average $230 / sq.feet price in Palm Desert. The properties with the highest average prices have 4 bedrooms. They are 26 % more expensive than the average followed by properties with 3 bedrooms with a price at $237 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $413,163 it is 41 % cheaper than the average price in Palm Desert. "Townhouse" is seen as the second most affordable property type. The dearest property type is "House" followed by "Office". At a price of $400,455 it is 57 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $133 / sq.feet followed by "Townhouse" priced at $134 / sq.feet. "House" is the most costly type of property with a $263 / sq.feet cost followed by "Condo" with an average price of $223 / sq.feet.