The prices in real estate in Tempe, in the Arizona region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Tempe has increased during the last 6 months. In May, the average price per sq.feet was $176. In the following month the price per sq.feet increased considerably to $204. The price for the following two months in (July, August) decreased 89 % with regard to the prior two months. The price per sq.feet has had a considerable increase of 123 % 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 $222 during September, and October.
Based upon to the price in Tempe (cities), these have remained the same in the last 6 months. The average price during our first sample month during May, is $424,038. During June the price went through a considerable rise reaching $557,234. During the following two months (July, August) the average price fell 86 % 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 $455,885.25 to $378,846, which means a 83 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $354,844 they are 32 % more affordable than the average price for Tempe. The properties with the highest average price have 4 bedrooms, Their price is 35 % more costly than the average. After that we have properties with 3 bedrooms priced at $350,059.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $210 / sq.feet, with an average $224 / sq.feet price in Tempe. The properties with the highest average prices have 1 bedroom. They are 35 % more expensive than the average followed by properties with 2 bedrooms with a price at $222 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $354,844 it is 27 % cheaper than the average price in Tempe. "Office" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of $286,859 it is 17 % 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 $220 / sq.feet followed by "House" priced at $221 / sq.feet. "Office" is the most costly type of property with a $989 / sq.feet cost followed by "House" with an average price of $221 / sq.feet.