The prices in real estate in Saranac Lake, in the New York 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 Saranac Lake has increased strongly during the last 6 months. In May, the average price per sq.feet was $351. In June this price pretty much remained the same at a value of $334 per sq.feet. The price for the following two months in (July, August) had a considerable increment of 485 %. The price per sq.feet has had a considerable deflation of 79 % 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 $1,001 to $795.5 during September, and October.
Based upon to the price in Saranac Lake (cities), this has fallen considerably in the last 6 months. The average price for May is $793,873. During June the price had a slight fall till $681,789. During the following two months (July, August) the average price fell 94 % 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 $715,491.5 to $497,527, which means a 70 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $526,327 they are 82 % more affordable than the average price for Saranac Lake. The properties with the highest average price have 4 bedrooms, Their price is 54 % more costly than the average. After that we have properties with 2 bedrooms priced at $562,022.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $259 / sq.feet, with an average $517 / sq.feet price in Saranac Lake. The properties with the highest average prices have 1 bedroom. They are 1171 % more expensive than the average followed by properties with 2 bedrooms with a price at $390 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $526,327 it is 72 % cheaper than the average price in Saranac Lake. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Detached House". At a price of $697,872 it is 139 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $283 / sq.feet followed by "House" priced at $320 / sq.feet. "Land" is the most costly type of property with a $54,572 / sq.feet cost followed by "Detached House" with an average price of $375 / sq.feet.