The prices in real estate in Prospect Heights, in the Illinois 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 Prospect Heights has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $12,920. In the following month the price per sq.feet decreased considerably to $3,164. The price for the following two months in (September, October) had a considerable decrease of 12 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 6 % 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 $4,505 to $261.5 during November, and December.
Based upon to the price in Prospect Heights (cities), this has fallen considerably in the last 6 months. The average price for July is $788,524. During August the price had a slight fall till $686,937. During the following two months (September, October) the average price had a considerable reduction of 60 % 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 $592,010.25 to $345,786, which means a 58 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $344,792 they are 52 % more affordable than the average price for Prospect Heights. The properties with the highest average price have 1 bedroom, Their price is 53 % more costly than the average. After that we have properties with 4 bedrooms priced at $497,670.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $153 / sq.feet, with an average $241 / sq.feet price in Prospect Heights. The properties with the highest average prices have 1 bedroom. They are 156 % more expensive than the average followed by properties with 3 bedrooms with a price at $311 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $344,792 it is 49 % cheaper than the average price in Prospect Heights. "Commercial Property" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "House". At a price of $833,470 it is 196 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial Property" at an average cost of $88 / sq.feet followed by "Condo" priced at $157 / sq.feet. "Apartment" is the most costly type of property with a $6,503 / sq.feet cost followed by "House" with an average price of $599 / sq.feet.