The prices in real estate in Virginia Beach, in the Virginia 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 Virginia Beach has increased strongly during the last 6 months. In January, the average price per sq.feet was $192. In February this price pretty much remained the same at a value of $186 per sq.feet. The price for the following two months in (March, April) had a considerable increment of 123 %. The price per sq.feet has had a considerable increase of 856 % 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 $211 to $1,806.5 during May, and June.
Based upon to the price in Virginia Beach (cities), this has gone up considerably in the last 6 months. The price in January is $423,468, rising in February till $476,147. During the following two months (March, April) the average price had a considerable increase of 139 % 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 136 % 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 $746,730 they are 81 % more affordable than the average price for Virginia Beach. The properties with the lowest average price have 4 bedrooms, Their price is 33 % cheaper than the average. After that we have properties with 3 bedrooms priced at $405,798.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $147 / sq.feet, with an average $2,785 / sq.feet price in Virginia Beach. The properties with the highest average prices have 4 bedrooms. They are 53 % more expensive than the average followed by properties with 3 bedrooms with a price at $1,571 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $746,730 it is 66 % cheaper than the average price in Virginia Beach. "Townhouse" is seen as the second most affordable property type. The dearest property type is "House" followed by "Land". At a price of $423,325 it is 4 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $135 / sq.feet followed by "Condo" priced at $162 / sq.feet. "Land" is the most costly type of property with a $4,211 / sq.feet cost followed by "House" with an average price of $2,982 / sq.feet.