The prices in real estate in Prescott, in the Arizona 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 Prescott has had a strong decrease during the last 6 months. In May, the average price per sq.feet was $1,529. In the following month the price per sq.feet increased to $1,704. The price for the following two months in (July, August) had a considerable decrease of 50 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 34 % 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 $1,215.5 to $414 during September, and October.
Based upon to the price in Prescott (cities), this has gone up in the last 6 months. In our first sample month during May, the average price is $383,839. In June This price remains at $385,817. In the following two months the average price has remained the same with regard to the previous two months from $384,828 to $373,247. Based on an analysis of the first four prices and the last two months the average price has risen strongly 119 % 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 $492,030 they are 48 % more affordable than the average price for Prescott. The properties with the highest average price have 4 bedrooms, Their price is 56 % more costly than the average. After that we have properties with 3 bedrooms priced at $546,682.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $212 / sq.feet, with an average $231 / sq.feet price in Prescott. The properties with the highest average prices have 1 bedroom. They are 23 % more expensive than the average followed by properties with 4 bedrooms with a price at $253 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $492,030 it is 73 % cheaper than the average price in Prescott. "Condo" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $593,773 it is 58 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $181 / sq.feet followed by "Condo" priced at $189 / sq.feet. "Commercial" is the most costly type of property with a $2,668 / sq.feet cost followed by "Land" with an average price of $896 / sq.feet.