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 October, the average price per sq.feet was $234. In the following month the price per sq.feet increased considerably to $390. In the following two months the price per sq.feet has increased 113 %, going from $312 to $353 per sq.feet. The price per sq.feet has had a considerable deflation of 81 % 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 $332.5 to $268.5 during February, and March.
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 October, is $543,663. During November the price went through a considerable rise reaching $950,497. During the following two months (December, January) the price has had an average incrementation from $747,080 to $856,809. During the last two months the average price has had a strong fall compared to the previous four going from $801,944.5 to $597,442, which means a 74 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $597,679 they are 76 % more affordable than the average price for West Palm Beach. The properties with the highest average price have 4 bedrooms, Their price is 104 % more costly than the average. After that we have properties with 3 bedrooms priced at $598,470.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $162 / sq.feet, with an average $282 / sq.feet price in West Palm Beach. The properties with the highest average prices have 4 bedrooms. They are 12 % more expensive than the average followed by properties with 3 bedrooms with a price at $280 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $597,679 it is 50 % cheaper than the average price in West Palm Beach. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $688,481 it is 178 % 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 $186 / sq.feet followed by "Apartment" priced at $199 / sq.feet. "Villa" is the most costly type of property with a $2,755 / sq.feet cost followed by "Commercial" with an average price of $472 / sq.feet.