The average price in the Arizona region has had a strong decrease in recent months. There has been a strong deflation in the prices in this region.
The price per sq.feet in Arizona has risen considerably in the last 6 months. During July, the average price per sq.feet was $582. The following month (August) the price had a considerable deflation reaching $404 per sq.feet. The following two months (September, October) went through a considerable deflation of 43 % in the price per sq.feet with regard to the previous two. In the last two months, the price per sq.feet has had a significant decrease of 56 %. This has been obtained by comparing the price of $353.5 for the first four months of the sample with regard to the previous 4 months and the price of $199.5 per sq.feet for the last two months (November, December).
Based upon to the price in Arizona(region), this has increased in the last 6 months. The average price in July is $373,107. In August the price increased to $402,095. The price in the following months (September, October) had a strong increment of 121 % going from $387,601 to $469,462.5. During the last two months the price has reduced 91 % compared to the previous average values going from $428,531.75 a $392,028.5 in November and December.
The graph displaying the the average price per number of bedrooms shows that those with 1 bedroom are the cheapest ones. They are 56 % more affordable than the average price in Arizona followed by those with 2 with an average price of $264,174. The most costly properties have 4 bedrooms. They are 25 % more expensive than the average followed by those properties with 3 bedrooms priced at $342,253.
Based on the average price per sq.feet those properties with 4 bedrooms are the cheapest ones with a price of $188 / sq.feet being $197 / sq.feet the average value within the Arizona region. The properties with the most expensive average price are those with 1 bedroom. These are 14 % more costly than the average followed by those with 3 bedrooms with a price of $197 / sq.feet.
The graph displaying the average price according to the property type shows "Land" as the cheapest one. With an average cost of $381,121 it is 90 % more affordable than the average in Arizona. This is followed by "Condo" with a price of $239,042. The dearest property type is "Commercial" and is 144 % more expensive than the average, followed by "Apartment" with a cost of $775,965.
Based on the average cost per sq.feet the cheapest property type is "Land with a an average cost of $5 / sq.feet, followed by "House" with a price of $181 / sq.feet. "Apartment" with an average price of $387 / sq.feet is the most costly type of property followed by "Commercial" at a price of $323 / sq.feet.