The prices in real estate in South Padre Island, in the Texas 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 Padre Island has increased strongly during the last 6 months. In March, the average price per sq.feet was $228. In the following month the price per sq.feet increased considerably to $400. The price for the following two months in (May, June) had a considerable increment of 643 %. The price per sq.feet has had a considerable increase of 345 % 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 $1,165.75 to $4,026 during July, and August.
Based upon to the price in South Padre Island (cities), this has gone up considerably in the last 6 months. In our first sample month during March, the average price is $394,044. In April This price remains at $402,749. During the following two months (May, June) the average price had a considerable increase of 134 % 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 148 % 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 $726,984 they are 77 % more affordable than the average price for South Padre Island. The properties with the highest average price have 4 bedrooms, Their price is 9 % more costly than the average. After that we have properties with 3 bedrooms priced at $450,728.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $222 / sq.feet, with an average $4,650 / sq.feet price in South Padre Island. The properties with the lowest average prices have 4 bedrooms. They are 94 % cheaper than the average followed by properties with 3 bedrooms with a price at $238 / sq.feet.
The graph displaying the average prices displays the property type "" as the most affordable one. At an cost of $726,984 it is 89 % cheaper than the average price in South Padre Island. "Townhouse" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $782,923 it is 46 % 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 $245 / sq.feet followed by "Condo" priced at $321 / sq.feet. "House" is the cheapest type of property with a $346 / sq.feet value followed by "Condo" with an average price of $321 / sq.feet.