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 April, the average price per sq.feet was $3,742. In the following month the price per sq.feet decreased considerably to $1,354. The price for the following two months in (June, July) had a considerable decrease of 51 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 62 % 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 $1,920.25 to $1,191.5 during August, and September.
Based upon to the price in Palo Alto (cities), this has gone up in the last 6 months. The average price during our first sample month during April, is $2,305,313. During May the price went through a considerable rise reaching $2,715,864. During the following two months (June, July) the price has had an average incrementation from $2,510,588.5 to $2,772,097. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 88 %, going from $2,641,342.75 to $2,320,968.5 in August and September.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $2,764,990 they are 53 % more affordable than the average price for Palo Alto. The properties with the highest average price have 4 bedrooms, Their price is 30 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,755,686.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $1,203 / sq.feet, with an average $1,327 / sq.feet price in Palo Alto. The properties with the highest average prices have 1 bedroom. They are 51 % more expensive than the average followed by properties with 4 bedrooms with a price at $1,472 / sq.feet.
The graph displaying the average prices displays the property type "Duplex" as the most costly one. At an cost of $2,764,990 it is 17 % more expensive than the average price in Palo Alto. "Townhouse" is seen as the second dearest property type. The dearest property type is "House" followed by "Apartment". At a price of $4,567,214 it is 127 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $1,284 / sq.feet followed by "Apartment" priced at $8,627 / sq.feet. "Condo" is the most costly type of property with a $10,705 / sq.feet cost followed by "Townhouse" with an average price of $9,819 / sq.feet.