The prices in real estate in Silver City, in the New Mexico 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 Silver City has increased strongly during the last 6 months. In January, the average price per sq.feet was $128. In February this price pretty much remained the same at a value of $128 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $128 to $124 per sq.feet. The price per sq.feet has had a considerable increase of 364 % 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 $126 to $458.5 during May, and June.
Based upon to the price in Silver City (cities), this has gone up considerably in the last 6 months. In our first sample month during January, the average price is $294,396. In February This price remains at $287,543. In the following two months the average price has remained the same with regard to the previous two months from $290,969.5 to $297,962. Based on an analysis of the first four prices and the last two months the average price has risen strongly 312 % 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 $1,532,175 they are 87 % more affordable than the average price for Silver City. The properties with the lowest average price have 4 bedrooms, Their price is 33 % cheaper than the average. After that we have properties with 2 bedrooms priced at $235,764.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $131 / sq.feet, with an average $783 / sq.feet price in Silver City. The properties with the lowest average prices have 4 bedrooms. They are 50 % cheaper than the average followed by properties with 2 bedrooms with a price at $184 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $1,532,175 it is 95 % cheaper than the average price in Silver City. "Farm" is seen as the second most affordable property type. The cheapest type property is "Commercial" followed by "House". At a price of $722,705 it is 50 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of $98 / sq.feet followed by "Commercial Property" priced at $141 / sq.feet. "Farm" is the most costly type of property with a $819 / sq.feet cost followed by "Commercial" with an average price of $210 / sq.feet.