The prices in real estate in Southfield, in the Michigan 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 Southfield has increased strongly during the last 6 months. In February, the average price per sq.feet was $87. In the following month the price per sq.feet increased to $95. In the following two months the price per sq.feet has increased 113 %, going from $91 to $102.5 per sq.feet. The price per sq.feet has increased 114 % 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 $96.75 to $110.5 during June, and July.
Based upon to the price in Southfield (cities), this has gone up in the last 6 months. In our first sample month during February, the average price is $142,492. In March This price remains at $148,125. In the following two months the average price has remained the same with regard to the previous two months from $145,308.5 to $150,044.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 118 % 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 $188,767 they are 58 % more affordable than the average price for Southfield. The properties with the highest average price have 4 bedrooms, Their price is 48 % more costly than the average. After that we have properties with 3 bedrooms priced at $108,871.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the most costly ones at a cost of $117 / sq.feet, with an average $115 / sq.feet price in Southfield. The properties with the highest average prices have 3 bedrooms. They are 514 % more expensive than the average followed by properties with 2 bedrooms with a price at $634 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $188,767 it is 43 % cheaper than the average price in Southfield. "Duplex" is seen as the second most affordable property type. The dearest property type is "Office" followed by "House". At a price of $183,293 it is 7 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $70 / sq.feet followed by "Condo" priced at $97 / sq.feet. "Office" is the most costly type of property with a $411 / sq.feet cost followed by "House" with an average price of $109 / sq.feet.