The prices in real estate in Pelican Rapids, in the Minnesota region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.feet in Pelican Rapids has fallen in the last 6 months. In September, the average price per sq.feet was $226. In October this price pretty much remained the same at a value of $217 per sq.feet. The price for the following two months in (November, December) decreased 90 % with regard to the prior two months. The price per sq.feet has decreased 94 % 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 $210 to $197.5 during January, and February.
Based upon to the price in Pelican Rapids (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during September, is $384,480. During October the price went through a considerable rise reaching $467,217. During the following two months (November, December) the average price had a considerable increase of 179 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 152 % 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 $818,600 they are 75 % more affordable than the average price for Pelican Rapids. The properties with the lowest average price have 3 bedrooms, Their price is 24 % cheaper than the average. After that we have properties with 4 bedrooms priced at $399,165.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $160 / sq.feet, with an average $201 / sq.feet price in Pelican Rapids. The properties with the highest average prices have 1 bedroom. They are 85 % more expensive than the average followed by properties with 3 bedrooms with a price at $222 / sq.feet.
With regard to the average price based upon the property in Pelican Rapids we can see that the cheapest property type is "House" at a price of $383,477, they are 53 % more affordable than the average price of (!PRECIO2!). "House" has the lowest price. This price is 53 % more affordable than the average price aforementioned.
According to the average area cost by sq.feet the cheapest property type is "House with an average price of $161 / sq.feet. "House" with an average cost of $161 / sq.feet has the lowest price and would be directed at less affluent cities.