The prices in real estate in Romulus, in the Michigan 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 Romulus has increased strongly during the last 6 months. In January, the average price per sq.feet was $71. In the following month the price per sq.feet decreased considerably to $47. The price for the following two months in (March, April) had a considerable increment of 803 %. The price per sq.feet has had a considerable deflation of 38 % 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 $266.5 to $102 during May, and June.
Based upon to the price in Romulus (cities), this has gone up considerably in the last 6 months. The average price for January is $98,137. During February the price had a considerable reduction till $72,652. During the following two months (March, April) the average price had a considerable increase of 892 % 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 $423,575.5 to $146,762.5, which means a 35 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 4 bedrooms are the cheapest ones. At a price of $160,332 they are 77 % more affordable than the average price for Romulus. The properties with the lowest average price have 1 bedroom, Their price is 77 % cheaper than the average. After that we have properties with 4 bedrooms priced at $37,144.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $5 / sq.feet, with an average $105 / sq.feet price in Romulus. The properties with the lowest average prices have 1 bedroom. They are 94 % cheaper than the average followed by properties with 4 bedrooms with a price at $5 / sq.feet.
The graph displaying the average prices displays the property type "" as the most affordable one. At an cost of $160,332 it is 83 % cheaper than the average price in Romulus. "Apartment" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Farm". At a price of $95,859 it is 71 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $5 / sq.feet followed by "Farm" priced at $33 / sq.feet. "Land" is the most costly type of property with a $108 / sq.feet cost followed by "Farm" with an average price of $33 / sq.feet.