The prices in real estate in Spearfish, 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 Spearfish has increased strongly during the last 6 months. In December, the average price per sq.feet was $186. In the following month the price per sq.feet decreased to $168. The price for the following two months in (February, March) had a considerable increment of 417 %. The price per sq.feet has had a considerable increase of 148 % 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 $457.75 to $679 during April, and May.
Based upon to the price in Spearfish (cities), this has fallen considerably in the last 6 months. In our first sample month during December, the average price is $495,813. In January This price remains at $485,435. During the following two months (February, March) the average price had a considerable reduction of 53 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $376,295.75 to $272,737, which means a 72 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the most costly ones. At a price of $293,935 they are 53 % more expensive than the average price for Spearfish. Following this ranking we find those properties with 3 at an average price of $489,129. The properties with the highest average price have 3 bedrooms, Their price is 66 % more costly than the average. After that we have properties with 1 bedroom priced at $450,226.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $133 / sq.feet, with an average $557 / sq.feet price in Spearfish. The properties with the highest average prices have 3 bedrooms. They are 60 % more expensive than the average followed by properties with 1 bedroom with a price at $133 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most costly one. At an cost of $293,935 it is 53 % more expensive than the average price in Spearfish. "House" is seen as the second dearest property type. The dearest property type is "House" followed by "Condo". At a price of $449,775 it is 66 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $132 / sq.feet followed by "House" priced at $893 / sq.feet. "House" is the most costly type of property with a $893 / sq.feet cost followed by "Condo" with an average price of $132 / sq.feet.