The prices in real estate in Pontiac, in the Michigan 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 Pontiac has had a strong decrease during the last 6 months. In January, the average price per sq.feet was $694. In the following month the price per sq.feet decreased considerably to $584. The price for the following two months in (March, April) had a considerable decrease of 26 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 74 % 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 $404 to $299.5 during May, and June.
Based upon to the price in Pontiac (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during January, is $103,752. During February the price went through a considerable rise reaching $253,518. During the following two months (March, April) the average price had a considerable reduction of 84 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $164,036.5 to $126,731, which means a 77 % fall.
The graph showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 11 % cheaper than the average price of $112,265 in Pontiac. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 11 % more affordable than the average aforementioned.
With regard to the average prices per sq.feet those properties with 1 bedroom are 144 % more costly than the average price of ($725 / sq.feet) in Pontiac. Properties with the most expensive price based upon to the number of bedrooms / sq.feet are those with 1 bedroom. They are 144 % more costly than the average value aforementioned.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $126,562 it is 11 % cheaper than the average price in Pontiac. "Office" is seen as the second most affordable property type. The dearest property type is "Duplex" followed by "Office". At a price of $158,859 it is 99 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of $66 / sq.feet followed by "Duplex" priced at $579 / sq.feet. "Apartment" is the most costly type of property with a $725 / sq.feet cost followed by "Duplex" with an average price of $579 / sq.feet.