The prices in real estate in Reno, in the Nevada 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 Reno has increased strongly during the last 6 months. In November, the average price per sq.feet was $240. In the following month the price per sq.feet increased to $275. In the following two months the price per sq.feet has increased 109 %, going from $257.5 to $279.5 per sq.feet. The price per sq.feet has increased 109 % 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 $268.5 to $291.5 during March, and April.
Based upon to the price in Reno (cities), this has gone up in the last 6 months. The price in November is $561,713, rising in December till $604,102. In the following two months the average price has remained the same with regard to the previous two months from $582,907.5 to $582,610.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $582,759 and $594,046 between March and April.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $580,353 they are 44 % more affordable than the average price for Reno. The properties with the highest average price have 4 bedrooms, Their price is 30 % more costly than the average. After that we have properties with 3 bedrooms priced at $486,352.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $268 / sq.feet, with an average $301 / sq.feet price in Reno. The properties with the highest average prices have 1 bedroom. They are 42 % more expensive than the average followed by properties with 4 bedrooms with a price at $282 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $580,353 it is 25 % cheaper than the average price in Reno. "Duplex" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $493,203 it is 56 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $204 / sq.feet followed by "House" priced at $317 / sq.feet. "Duplex" is the most costly type of property with a $5,144 / sq.feet cost followed by "Townhouse" with an average price of $5,084 / sq.feet.