The prices in real estate in Traverse City, in the Michigan 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 Traverse City has increased strongly during the last 6 months. In December, the average price per sq.feet was $232. In the following month the price per sq.feet increased considerably to $280. In the following two months the price per sq.feet has increased 114 %, going from $256 to $292 per sq.feet. The price per sq.feet has barely changed in the last two months compared to the average price of the previous four months going from an average price of $274 to $282 during April y May
Based upon to the price in Traverse City (cities), this has gone up in the last 6 months. The average price for December is $522,342. During January the price had a slight fall till $465,213. During the following two months (February, March) the average price had a considerable increase of 125 % 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 risen strongly 115 % 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 $583,398 they are 64 % more affordable than the average price for Traverse City. The properties with the lowest average price have 4 bedrooms, Their price is 4 % cheaper than the average. After that we have properties with 3 bedrooms priced at $408,530.
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 $261 / sq.feet price in Traverse City. The properties with the highest average prices have 2 bedrooms. They are 12 % more expensive than the average followed by properties with 1 bedroom with a price at $281 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $583,398 it is 74 % cheaper than the average price in Traverse City. "Condo" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "Commercial". At a price of $836,250 it is 107 % 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 $18 / sq.feet followed by "Commercial" priced at $183 / sq.feet. "Farm" is the most costly type of property with a $3,855 / sq.feet cost followed by "Condo" with an average price of $351 / sq.feet.