The prices in real estate in Severn, in the Maryland 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 Severn has increased strongly during the last 6 months. In March, the average price per sq.feet was $189. In April this price pretty much remained the same at a value of $191 per sq.feet. The price for the following two months in (May, June) decreased 95 % with regard to the prior two months. The price per sq.feet has had a considerable increase of 151 % 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 $185 to $279 during July, and August.
Based upon to the price in Severn (cities), this has gone downing the last 6 months. The average price for March is $456,149. During April the price had a slight fall till $432,699. In the following two months the average price has remained the same with regard to the previous two months from $444,424 to $439,361. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 91 %, going from $441,892.5 to $403,130 in July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $414,956 they are 17 % more affordable than the average price for Severn. The properties with the highest average price have 1 bedroom, Their price is 24 % more costly than the average. After that we have properties with 4 bedrooms priced at $458,759.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the most costly ones at a cost of $184 / sq.feet, with an average $172 / sq.feet price in Severn. The properties with the highest average prices have 2 bedrooms. They are 69 % more expensive than the average followed by properties with 1 bedroom with a price at $199 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $414,956 it is 60 % cheaper than the average price in Severn. "Townhouse" is seen as the second most affordable property type. The dearest property type is "House" followed by "Commercial Property". At a price of $432,279 it is 25 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "House" at an average cost of $196 / sq.feet followed by "Commercial Property" priced at $225 / sq.feet. "Townhouse" is the most costly type of property with a $13,416 / sq.feet cost followed by "Condo" with an average price of $1,131 / sq.feet.