The prices in real estate in Southern Pines, in the North Carolina 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 Southern Pines has increased strongly during the last 6 months. In October, the average price per sq.feet was $164. In the following month the price per sq.feet increased considerably to $223. The price for the following two months in (December, January) decreased 86 % with regard to the prior two months. The price per sq.feet has had a considerable increase of 119 % 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 $180 to $214 during February, and March.
Based upon to the price in Southern Pines (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is $476,612. During November the price went through a considerable rise reaching $778,613. During the following two months (December, January) the average price had a considerable reduction of 79 % 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 142 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of $801,686 they are 62 % more affordable than the average price for Southern Pines. The properties with the lowest average price have 4 bedrooms, Their price is 43 % cheaper than the average. After that we have properties with 1 bedroom priced at $350,646.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $124 / sq.feet, with an average $225 / sq.feet price in Southern Pines. The properties with the highest average prices have 4 bedrooms. They are 589 % more expensive than the average followed by properties with 2 bedrooms with a price at $479 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $801,686 it is 61 % cheaper than the average price in Southern Pines. "House" is seen as the second most affordable property type. The cheapest type property is "Commercial" followed by "Farm". At a price of $351,677 it is 56 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $122 / sq.feet followed by "House" priced at $125 / sq.feet. "Condo" is the most costly type of property with a $2,554 / sq.feet cost followed by "Farm" with an average price of $153 / sq.feet.