The average price in the Michigan region has had an strong increase in recent months. There has been a strong inflation in the prices in this region.
The price per sq.feet in Michigan has increased strongly in the last 6 months. During December, the average price per sq.feet was $130. The following month (January) the price had a considerable increase reaching $166 per sq.feet. In the following two months (February, March) the price per sq.feet has risen strongly to a 352 %. In the last two months, the price per sq.feet has had a significant increase of 144 %. This has been obtained by comparing the price of $334.5 for the first four months of the sample with regard to the previous 4 months and the price of $481.5 per sq.feet for the last two months (April, May).
Based upon to the price in Michigan(region), these have remained the same in the last 6 months. December has an average price of $292,438. During January the price had a slight deflation till $271,943. In the following two months the average price didn't change much compared to the previous two going from $282,190.5 to $286,395. During the last two months the price has had a considerable increase of 115 % with respect to the previous four months going from $284,292.75 a $327,920.5.
The graph displaying the the average price per number of bedrooms shows that those with 1 bedroom are the cheapest ones. They are 43 % more affordable than the average price in Michigan followed by those with 2 with an average price of $172,037. The most costly properties have 4 bedrooms. They are 23 % more expensive than the average followed by those properties with 3 bedrooms priced at $227,484.
Based on the average price per sq.feet those properties with 2 bedrooms are the cheapest ones with a price of $135 / sq.feet being $163 / sq.feet the average value within the Michigan region. The properties with the most expensive average price are those with 1 bedroom. These are 18 % more costly than the average followed by those with 4 bedrooms with a price of $142 / sq.feet.
The graph displaying the average price according to the property type shows "Condo" as the most costly one. With an average cost of $263,490 it is 5 % more expensive than the average in Michigan. This is followed by "House" with a price of $312,653. The dearest property type is "Commercial" and is 84 % more expensive than the average, followed by "Townhouse" with a cost of $320,236.
Based on the average cost per sq.feet the cheapest property type is "House with a an average cost of $151 / sq.feet, followed by "Condo" with a price of $179 / sq.feet. "Commercial" with an average price of $1,418 / sq.feet is the most costly type of property followed by "Townhouse" at a price of $422 / sq.feet.