The prices in real estate in Shelter Island, 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 Shelter Island has increased strongly during the last 6 months. In October, the average price per sq.feet was $894. In November this price pretty much remained the same at a value of $869 per sq.feet. The price for the following two months in (December, January) decreased 90 % with regard to the prior two months. The price per sq.feet has had a considerable increase of 5408 % 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 $836.25 to $45,225 during February, and March.
Based upon to the price in Shelter Island (cities), these have remained the same in the last 6 months. The average price for October is $2,232,500. During November the price had a slight fall till $2,008,697. During the following two months (December, January) the price has had an average incrementation from $2,120,598.5 to $2,425,785.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 88 %, going from $2,273,192 to $1,993,008.5 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $1,790,714 they are 75 % more affordable than the average price for Shelter Island. The properties with the highest average price have 4 bedrooms, Their price is 20 % more costly than the average. After that we have properties with 3 bedrooms priced at $971,588.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $501 / sq.feet, with an average $89,459 / sq.feet price in Shelter Island. The properties with the lowest average prices have 4 bedrooms. They are 98 % cheaper than the average followed by properties with 3 bedrooms with a price at $1,370 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $1,790,714 it is 5 % cheaper than the average price in Shelter Island. "Land" is seen as the second most affordable property type. The dearest property type is "Land" followed by "House". At a price of $1,697,325 it is 82 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $712 / sq.feet followed by "Land" priced at $3,015 / sq.feet. "Land" is the cheapest type of property with a $3,015 / sq.feet value followed by "House" with an average price of $712 / sq.feet.