The prices in real estate in Phoenix, in the Arizona region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Phoenix has increased strongly during the last 6 months. In December, the average price per sq.feet was $178. In the following month the price per sq.feet increased to $187. In the following two months the price per sq.feet has increased 113 %, going from $182.5 to $205.5 per sq.feet. The price per sq.feet has had a considerable increase of 140 % 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 $194 to $271.5 during April, and May.
Based upon to the price in Phoenix (cities), this has gone up considerably in the last 6 months. In our first sample month during December, the average price is $340,032. In January This price remains at $341,630. During the following two months (February, March) the price has had an average incrementation from $340,831 to $383,557.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 164 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $602,093 they are 39 % more affordable than the average price for Phoenix. The properties with the highest average price have 1 bedroom, Their price is 205 % more costly than the average. After that we have properties with 4 bedrooms priced at $469,916.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $171 / sq.feet, with an average $293 / sq.feet price in Phoenix. The properties with the highest average prices have 1 bedroom. They are 2495 % more expensive than the average followed by properties with 2 bedrooms with a price at $254 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $602,093 it is 66 % cheaper than the average price in Phoenix. "Villa" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "House". At a price of $597,286 it is 9 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Villa" at an average cost of $159 / sq.feet followed by "House" priced at $232 / sq.feet. "Commercial" is the most costly type of property with a $1,395 / sq.feet cost followed by "Apartment" with an average price of $323 / sq.feet.