The prices in real estate in Prior Lake, in the Minnesota 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 Prior Lake has increased strongly during the last 6 months. In January, the average price per sq.feet was $3,141. In the following month the price per sq.feet decreased to $2,933. The price for the following two months in (March, April) had a considerable increment of 152 %. The price per sq.feet has increased 114 % 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 $3,833.25 to $4,368.5 during May, and June.
Based upon to the price in Prior Lake (cities), this has gone downing the last 6 months. In our first sample month during January, the average price is $590,676. In February This price remains at $564,708. In the following two months the average price has remained the same with regard to the previous two months from $577,692 to $565,885.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 87 %, going from $571,788.75 to $499,049.5 in May and June.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $481,128 they are 42 % more affordable than the average price for Prior Lake. The properties with the highest average price have 4 bedrooms, Their price is 8 % more costly than the average. After that we have properties with 3 bedrooms priced at $340,965.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $154 / sq.feet, with an average $4,715 / sq.feet price in Prior Lake. The properties with the lowest average prices have 1 bedroom. They are 32 % cheaper than the average followed by properties with 2 bedrooms with a price at $182 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $481,128 it is 58 % cheaper than the average price in Prior Lake. "Commercial" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Commercial". At a price of $386,782 it is 15 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $156 / sq.feet followed by "House" priced at $168 / sq.feet. "Condo" is the cheapest type of property with a $1,123 / sq.feet value followed by "House" with an average price of $168 / sq.feet.