Property prices for sale in Traverse City (Michigan)
The prices in real estate in Traverse City, 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 Traverse City has had a strong decrease during the last 6 months. In October, the average price per sq.feet was $2,576. In November this price pretty much remained the same at a value of $2,490 per sq.feet. The price for the following two months in (December, January) had a considerable decrease of 76 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 69 % 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 $2,233.25 to $1,545 during February, and March.
Based upon to the price in Traverse City (cities), this has gone downing the last 6 months. In our first sample month during October, the average price is $562,614. In November This price remains at $585,035. During the following two months (December, January) the average price had a considerable reduction of 82 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 108 % 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 $504,641 they are 39 % more affordable than the average price for Traverse City. The properties with the highest average price have 4 bedrooms, Their price is 92 % more costly than the average. After that we have properties with 3 bedrooms priced at $529,828.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $457 / sq.feet, with an average $1,894 / sq.feet price in Traverse City. The properties with the highest average prices have 4 bedrooms. They are 57 % more expensive than the average followed by properties with 3 bedrooms with a price at $2,397 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $504,641 it is 67 % cheaper than the average price in Traverse City. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Detached House". At a price of $1,298,550 it is 162 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $253 / sq.feet followed by "Townhouse" priced at $321 / sq.feet. "House" is the most costly type of property with a $2,795 / sq.feet cost followed by "Land" with an average price of $1,443 / sq.feet.
