The average price in the New York 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 New York has risen considerably in the last 6 months. During June, the average price per sq.feet was $918. The following month (July) the price had a considerable deflation reaching $467 per sq.feet. The following two months (August, September) went through a considerable deflation of 75 % 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 71 %. This has been obtained by comparing the price of $604.75 for the first four months of the sample with regard to the previous 4 months and the price of $431 per sq.feet for the last two months (October, November).
Based upon to the price in New York(region), this has decreased considerably in the last 6 months. June has an average price of $1,240,090. During July the price had a strong deflation till $781,623. In the following two months the average price has decreased 80 % compared to the previous two. During the last two months the price has had a considerable reduction of 74 % with respect to the previous four months going from $909,519.25 a $668,795.5.
The graph displaying the the average price per number of bedrooms shows that those with 3 bedrooms are the cheapest ones. They are 31 % more affordable than the average price in New York followed by those with 1 with an average price of $530,418. The most costly properties have 4 bedrooms. They are 3 % more expensive than the average followed by those properties with 2 bedrooms priced at $696,640.
Based on the average price per sq.feet those properties with 3 bedrooms are the cheapest ones with a price of $307 / sq.feet being $491 / sq.feet the average value within the New York region. The properties with the most expensive average price are those with 1 bedroom. These are 44 % more costly than the average followed by those with 2 bedrooms with a price of $627 / sq.feet.
The graph displaying the average price according to the property type shows "Land" as the cheapest one. With an average cost of $714,594 it is 60 % more affordable than the average in New York. This is followed by "Commercial" with a price of $417,640. The dearest property type is "Condo" and is 61 % more expensive than the average, followed by "Townhouse" with a cost of $779,313.
Based on the average cost per sq.feet the cheapest property type is "Land with a an average cost of $143 / sq.feet, followed by "House" with a price of $352 / sq.feet. "Apartment" with an average price of $1,360 / sq.feet is the most costly type of property followed by "Condo" at a price of $1,098 / sq.feet.