The prices in real estate in Tea, 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 Tea has increased strongly during the last 6 months. In November, the average price per sq.feet was $138. In the following month the price per sq.feet increased considerably to $176. In the following two months the price per sq.feet has increased 114 %, going from $157 to $178.5 per sq.feet. The price per sq.feet has decreased 94 % 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 $167.75 to $157.5 during March, and April.
Based upon to the price in Tea (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is $304,304. During December the price went through a considerable rise reaching $376,913. During the following two months (January, February) the average price had a considerable increase of 136 % 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 $401,523 to $337,047, which means a 84 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 4 bedrooms are the cheapest ones. At a price of $312,288 they are 22 % more affordable than the average price for Tea. The properties with the lowest average price have 1 bedroom, Their price is 21 % cheaper than the average. After that we have properties with 4 bedrooms priced at $243,662.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $135 / sq.feet, with an average $155 / sq.feet price in Tea. The properties with the lowest average prices have 1 bedroom. They are 6 % cheaper than the average followed by properties with 4 bedrooms with a price at $135 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $312,288 it is 49 % cheaper than the average price in Tea. "House" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Condo". At a price of $157,790 it is 22 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $105 / sq.feet followed by "House" priced at $135 / sq.feet. "House" is the cheapest type of property with a $135 / sq.feet value followed by "Condo" with an average price of $105 / sq.feet.