The prices in real estate in Palo Alto, 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 Palo Alto has had a strong decrease during the last 6 months. In May, the average price per sq.feet was $7,319. In the following month the price per sq.feet decreased considerably to $3,109. The price for the following two months in (July, August) had a considerable decrease of 36 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 35 % 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 $3,548.75 to $1,254.5 during September, and October.
Based upon to the price in Palo Alto (cities), this has gone downing the last 6 months. In our first sample month during May, the average price is $3,515,552. In June This price remains at $3,542,743. In the following two months the average price has remained the same with regard to the previous two months from $3,529,147.5 to $3,380,351.5. During the last two months the average price has had a strong fall compared to the previous four going from $3,454,749.5 to $2,763,088, 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 $2,710,011 they are 64 % more affordable than the average price for Palo Alto. The properties with the highest average price have 4 bedrooms, Their price is 31 % more costly than the average. After that we have properties with 3 bedrooms priced at $2,106,075.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $986 / sq.feet, with an average $1,248 / sq.feet price in Palo Alto. The properties with the highest average prices have 4 bedrooms. They are 11 % more expensive than the average followed by properties with 3 bedrooms with a price at $1,215 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $2,710,011 it is 55 % cheaper than the average price in Palo Alto. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Duplex" followed by "House". At a price of $3,110,589 it is 17 % 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 $1,020 / sq.feet followed by "Townhouse" priced at $1,110 / sq.feet. "Duplex" is the most costly type of property with a $9,679 / sq.feet cost followed by "House" with an average price of $1,354 / sq.feet.