The prices in real estate in South Boston, in the Virginia 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 South Boston has increased strongly during the last 6 months. In December, the average price per sq.feet was $729. In January this price pretty much remained the same at a value of $724 per sq.feet. The price for the following two months in (February, March) had a considerable increment of 124 %. The price per sq.feet has had a considerable increase of 126 % 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 $814.75 to $1,024 during April, and May.
Based upon to the price in South Boston (cities), these have remained the same in the last 6 months. In our first sample month during December, the average price is $953,435. In January This price remains at $907,150. In the following two months the average price has remained the same with regard to the previous two months from $930,292.5 to $898,453. Based on an analysis of the first four prices and the last two months the average price has gone up 105 % 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 $958,900 they are 25 % more affordable than the average price for South Boston. The properties with the highest average price have 4 bedrooms, Their price is 84 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,183,893.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $698 / sq.feet, with an average $1,055 / sq.feet price in South Boston. The properties with the lowest average prices have 1 bedroom. They are 24 % cheaper than the average followed by properties with 2 bedrooms with a price at $743 / sq.feet.
The graph displaying the average prices displays the property type "Duplex" as the most affordable one. At an cost of $958,900 it is 89 % cheaper than the average price in South Boston. "Mobile Home" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "Condo". At a price of $166,207 it is 83 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $24 / sq.feet followed by "Mobile Home" priced at $27 / sq.feet. "Apartment" is the cheapest type of property with a $61 / sq.feet value followed by "Condo" with an average price of $56 / sq.feet.