The prices in real estate in West Palm Beach, in the Florida 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 West Palm Beach has increased strongly during the last 6 months. In March, the average price per sq.feet was $203. In the following month the price per sq.feet increased considerably to $253. In the following two months the price per sq.feet has barely changed, going from $228 to $217.5 per sq.feet. The price per sq.feet has had a considerable increase of 131 % 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 $222.75 to $291 during July, and August.
Based upon to the price in West Palm Beach (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during March, is $378,738. During April the price went through a considerable rise reaching $456,438. In the following two months the average price has remained the same with regard to the previous two months from $417,588 to $407,885.5. Based on an analysis of the first four prices and the last two months the average price has gone up 113 % 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 $468,176 they are 59 % more affordable than the average price for West Palm Beach. The properties with the highest average price have 4 bedrooms, Their price is 55 % more costly than the average. After that we have properties with 3 bedrooms priced at $444,462.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $172 / sq.feet, with an average $226 / sq.feet price in West Palm Beach. The properties with the highest average prices have 2 bedrooms. They are 7 % more expensive than the average followed by properties with 4 bedrooms with a price at $239 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $468,176 it is 55 % cheaper than the average price in West Palm Beach. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Apartment". At a price of $388,241 it is 15 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $170 / sq.feet followed by "Condo" priced at $174 / sq.feet. "Apartment" is the most costly type of property with a $1,218 / sq.feet cost followed by "Commercial" with an average price of $596 / sq.feet.