The prices in real estate in Sioux Falls, in the South Dakota 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 Sioux Falls has increased strongly during the last 6 months. In December, the average price per sq.feet was $128. In the following month the price per sq.feet increased to $138. The price for the following two months in (February, March) had a considerable increment of 217 %. The price per sq.feet has had a considerable increase of 827 % 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 $210.75 to $1,742 during April, and May.
Based upon to the price in Sioux Falls (cities), these have remained the same in the last 6 months. In our first sample month during December, the average price is $278,299. In January This price remains at $289,689. During the following two months (February, March) the average price fell 85 % 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 gone up 107 % 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 $303,364 they are 54 % more affordable than the average price for Sioux Falls. The properties with the highest average price have 4 bedrooms, Their price is 3 % more costly than the average. After that we have properties with 3 bedrooms priced at $233,738.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $38 / sq.feet, with an average $2,451 / sq.feet price in Sioux Falls. The properties with the highest average prices have 4 bedrooms. They are 38 % more expensive than the average followed by properties with 3 bedrooms with a price at $1,083 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $303,364 it is 15 % cheaper than the average price in Sioux Falls. "House" is seen as the second most affordable property type. The dearest property type is "Condo" followed by "House". At a price of $330,593 it is 149 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $122 / sq.feet followed by "Condo" priced at $343 / sq.feet. "House" is the most costly type of property with a $3,583 / sq.feet cost followed by "Condo" with an average price of $343 / sq.feet.