The prices in real estate in Spring Lake, in the Michigan region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Spring Lake has had a strong decrease during the last 6 months. In April, the average price per sq.feet was $323. In the following month the price per sq.feet decreased considerably to $230. The price for the following two months in (June, July) had a considerable decrease of 84 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 76 % 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 $255 to $194 during August, and September.
Based upon to the price in Spring Lake (cities), this has fallen considerably in the last 6 months. The average price for April is $1,177,800. During May the price had a considerable reduction till $571,581. During the following two months (June, July) the average price had a considerable reduction of 64 % 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 $715,631.75 to $426,986.5, which means a 60 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $445,303 they are 29 % more affordable than the average price for Spring Lake. The properties with the highest average price have 4 bedrooms, Their price is 17 % more costly than the average. After that we have properties with 3 bedrooms priced at $465,195.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $198 / sq.feet, with an average $207 / sq.feet price in Spring Lake. The properties with the highest average prices have 1 bedroom. They are 25 % more expensive than the average followed by properties with 2 bedrooms with a price at $210 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $445,303 it is 91 % cheaper than the average price in Spring Lake. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $353,754 it is 17 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of $12 / sq.feet followed by "House" priced at $213 / sq.feet. "Condo" is the most costly type of property with a $224 / sq.feet cost followed by "House" with an average price of $213 / sq.feet.