The prices in real estate in Red Lodge, in the Montana 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 Red Lodge has had a strong decrease during the last 6 months. In August, the average price per sq.feet was $720. In the following month the price per sq.feet increased considerably to $1,042. The price for the following two months in (October, November) had a considerable decrease of 28 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 41 % 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 $564.5 to $233 during December, and January.
Based upon to the price in Red Lodge (cities), this has gone up considerably in the last 6 months. In our first sample month during August, the average price is $383,523. In September This price remains at $400,951. During the following two months (October, November) the average price had a considerable increase of 127 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 139 % 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 $596,822 they are 61 % more affordable than the average price for Red Lodge. The properties with the highest average price have 4 bedrooms, Their price is 26 % more costly than the average. After that we have properties with 3 bedrooms priced at $555,850.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $101 / sq.feet, with an average $244 / sq.feet price in Red Lodge. The properties with the highest average prices have 3 bedrooms. They are 445 % more expensive than the average followed by properties with 4 bedrooms with a price at $232 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $596,822 it is 47 % cheaper than the average price in Red Lodge. "House" is seen as the second most affordable property type. The dearest property type is "Land" followed by "House". At a price of $395,655 it is 16 % 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 $175 / sq.feet followed by "House" priced at $235 / sq.feet. "Land" is the most costly type of property with a $313 / sq.feet cost followed by "House" with an average price of $235 / sq.feet.