The prices in real estate in Red Wing, in the Minnesota 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 Wing has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $979. In the following month the price per sq.feet decreased considerably to $102. The price for the following two months in (September, October) had a considerable decrease of 22 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 43 % 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 $330.25 to $142 during November, and December.
Based upon to the price in Red Wing (cities), this has gone up considerably in the last 6 months. In our first sample month during July, the average price is $158,941. In August This price remains at $162,237. During the following two months (September, October) the average price had a considerable increase of 148 % 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 213 % 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 $458,700 they are 48 % more affordable than the average price for Red Wing. The properties with the lowest average price have 2 bedrooms, Their price is 1 % cheaper than the average. After that we have properties with 4 bedrooms priced at $451,828.
With regard to the average price per sq.feet , those properties with 1 bedroom are the most costly ones at a cost of $141 / sq.feet, with an average $133 / sq.feet price in Red Wing. The properties with the highest average prices have 2 bedrooms. They are 624 % more expensive than the average followed by properties with 4 bedrooms with a price at $958 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $458,700 it is 43 % cheaper than the average price in Red Wing. "Apartment" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "Condo". At a price of $262,674 it is 1 % more affordable than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Apartment" at an average cost of $958 / sq.feet followed by "Condo" priced at $1,503 / sq.feet. "Condo" is the most costly type of property with a $1,503 / sq.feet cost followed by "Apartment" with an average price of $958 / sq.feet.