The prices in real estate in Park Ridge, in the Illinois 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 Park Ridge has had a strong decrease during the last 6 months. In May, the average price per sq.feet was $632. In the following month the price per sq.feet decreased considerably to $249. The price for the following two months in (July, August) had a considerable decrease of 61 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 68 % 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 $354 to $241 during September, and October.
Based upon to the price in Park Ridge (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during May, is $455,357. During June the price went through a considerable rise reaching $553,390. In the following two months the average price has remained the same with regard to the previous two months from $504,373.5 to $502,079. Based on an analysis of the first four prices and the last two months the average price has gone up 108 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $552,294 they are 71 % more affordable than the average price for Park Ridge. The properties with the highest average price have 4 bedrooms, Their price is 6 % more costly than the average. After that we have properties with 3 bedrooms priced at $429,014.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $174 / sq.feet, with an average $237 / sq.feet price in Park Ridge. The properties with the highest average prices have 3 bedrooms. They are 9 % more expensive than the average followed by properties with 4 bedrooms with a price at $236 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $552,294 it is 36 % cheaper than the average price in Park Ridge. "Land" is seen as the second most affordable property type. The dearest property type is "Office" followed by "House". At a price of $529,879 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 $222 / sq.feet followed by "Land" priced at $240 / sq.feet. "Office" is the most costly type of property with a $2,050 / sq.feet cost followed by "House" with an average price of $246 / sq.feet.