The prices in real estate in Richmond Hill, in the Georgia 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 Richmond Hill has increased strongly during the last 6 months. In March, the average price per sq.feet was $133. In the following month the price per sq.feet increased considerably to $162. The price for the following two months in (May, June) had a considerable increment of 134 %. The price per sq.feet has had a considerable deflation of 77 % 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 $172.75 to $133 during July, and August.
Based upon to the price in Richmond Hill (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during March, is $353,860. During April the price went through a considerable rise reaching $447,780. During the following two months (May, June) the average price had a considerable increase of 161 % 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 $523,338.75 to $341,703.5, which means a 65 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $353,550 they are 31 % more affordable than the average price for Richmond Hill. The properties with the highest average price have 1 bedroom, Their price is 61 % more costly than the average. After that we have properties with 4 bedrooms priced at $420,075.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $119 / sq.feet, with an average $135 / sq.feet price in Richmond Hill. The properties with the highest average prices have 1 bedroom. They are 227 % more expensive than the average followed by properties with 4 bedrooms with a price at $136 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $353,550 it is 25 % cheaper than the average price in Richmond Hill. "Commercial Property" is seen as the second most affordable property type. The dearest property type is "House" followed by "Commercial Property". At a price of $268,401 it is 11 % 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 $87 / sq.feet followed by "Land" priced at $96 / sq.feet. "House" is the cheapest type of property with a $131 / sq.feet value followed by "Land" with an average price of $96 / sq.feet.