The prices in real estate in West Palm Beach, in the Florida region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.feet in West Palm Beach has fallen in the last 6 months. In April, the average price per sq.feet was $308. In May this price pretty much remained the same at a value of $312 per sq.feet. In the following two months the price per sq.feet has increased 107 %, going from $310 to $333 per sq.feet. The price per sq.feet has had a considerable deflation of 57 % 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 $321.5 to $184.5 during August, and September.
Based upon to the price in West Palm Beach (cities), this has fallen considerably in the last 6 months. In our first sample month during April, the average price is $696,313. In May This price remains at $689,581. During the following two months (June, July) the average price had a considerable reduction of 77 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $614,521 to $292,837, which means a 48 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $292,150 they are 53 % more affordable than the average price for West Palm Beach. The properties with the highest average price have 4 bedrooms, Their price is 129 % more costly than the average. After that we have properties with 3 bedrooms priced at $347,968.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $167 / sq.feet, with an average $195 / sq.feet price in West Palm Beach. The properties with the highest average prices have 4 bedrooms. They are 24 % more expensive than the average followed by properties with 3 bedrooms with a price at $208 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $292,150 it is 23 % 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 "Villa". At a price of $648,989 it is 466 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $183 / sq.feet followed by "Townhouse" priced at $185 / sq.feet. "Villa" is the most costly type of property with a $2,752 / sq.feet cost followed by "Commercial" with an average price of $466 / sq.feet.