The average price in the Minnesota 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 Minnesota has risen considerably in the last 6 months. During April, the average price per sq.feet was $964. The following month the price decreased to $894 per sq.feet. The following two months (June, July) there has been a deflation of 91 % 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 24 %. This has been obtained by comparing the price of $888.75 for the first four months of the sample with regard to the previous 4 months and the price of $211 per sq.feet for the last two months (August, September).
Based upon to the price in Minnesota(region), this has increased in the last 6 months. In the first month sample April the average price is $334,050. In May the price was the same at $340,955. In the following two months the average price didn't change much compared to the previous two going from $337,502.5 to $353,008. During the last two months the average price has remained stagnant and has gone from $345,255.25 to $354,010.5 during August and September.
The graph displaying the the average price per number of bedrooms shows that those with 1 bedroom are the cheapest ones. They are 46 % more affordable than the average price in Minnesota followed by those with 2 with an average price of $253,158. The most costly properties have 4 bedrooms. They are 24 % more expensive than the average followed by those properties with 3 bedrooms priced at $390,669.
Based on the average price per sq.feet those properties with 2 bedrooms are the cheapest ones with a price of $156 / sq.feet being $194 / sq.feet the average value within the Minnesota region. The properties with the most expensive average price are those with 4 bedrooms. These are 39 % more costly than the average followed by those with 3 bedrooms with a price of $180 / sq.feet.
The graph displaying the average price according to the property type shows "Land" as the cheapest one. With an average cost of $353,718 it is 64 % more affordable than the average in Minnesota. This is followed by "Condo" with a price of $290,200. The dearest property type is "House" and is 3 % more expensive than the average, followed by "Office" with a cost of $332,135.
Based on the average cost per sq.feet the cheapest property type is "Apartment with a an average cost of $165 / sq.feet, followed by "Office" with a price of $170 / sq.feet. "Land" with an average price of $649 / sq.feet is the most costly type of property followed by "Condo" at a price of $201 / sq.feet.