The prices in real estate in Sevierville, in the Tennessee region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Sevierville has had a strong decrease during the last 6 months. In October, the average price per sq.feet was $597. In the following month the price per sq.feet decreased considerably to $213. The price for the following two months in (December, January) had a considerable decrease of 51 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 80 % 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 $305.5 to $244.5 during February, and March.
Based upon to the price in Sevierville (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is $328,609. During November the price went through a considerable rise reaching $479,836. During the following two months (December, January) the average price had a considerable increase of 122 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 124 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $616,620 they are 49 % more affordable than the average price for Sevierville. The properties with the lowest average price have 4 bedrooms, Their price is 1 % cheaper than the average. After that we have properties with 2 bedrooms priced at $424,783.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $183 / sq.feet, with an average $257 / sq.feet price in Sevierville. The properties with the highest average prices have 1 bedroom. They are 24 % more expensive than the average followed by properties with 2 bedrooms with a price at $257 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $616,620 it is 48 % cheaper than the average price in Sevierville. "House" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Commercial". At a price of $1,150,411 it is 186 % 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 $76 / sq.feet followed by "House" priced at $296 / sq.feet. "Land" is the most costly type of property with a $48,360 / sq.feet cost followed by "Commercial" with an average price of $3,228 / sq.feet.