The average price in the Utah 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 Utah has risen considerably in the last 6 months. During March, the average price per sq.feet was $560. The following month (April) the price had a considerable increase reaching $1,040 per sq.feet. The following two months (May, June) went through a considerable deflation of 33 % 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 68 %. This has been obtained by comparing the price of $530.5 for the first four months of the sample with regard to the previous 4 months and the price of $359.5 per sq.feet for the last two months (July, August).
Based upon to the price in Utah(region), this has decreased considerably in the last 6 months. In the first month sample March the average price is $1,279,154. In April the price was the same at $1,292,770. In the following two months the average price has decreased 48 % compared to the previous two. During the last two months the price has had a considerable reduction of 84 % with respect to the previous four months going from $953,084.25 a $805,157.5.
The graph displaying the the average price per number of bedrooms shows that those with 1 bedroom are the cheapest ones. They are 53 % more affordable than the average price in Utah followed by those with 2 with an average price of $399,800. The cheapest properties have 4 bedrooms. They are 4 % cheaper than the average followed by those properties with 3 bedrooms priced at $445,398.
Based on the average price per sq.feet those properties with 3 bedrooms are the cheapest ones with a price of $215 / sq.feet being $272 / sq.feet the average value within the Utah region. The properties with the most expensive average price are those with 1 bedroom. These are 41 % more costly than the average followed by those with 2 bedrooms with a price of $290 / sq.feet.
The graph displaying the average price according to the property type shows "Office" as the cheapest one. With an average cost of $681,642 it is 47 % more affordable than the average in Utah. This is followed by "Townhouse" with a price of $471,225. The dearest property type is "Commercial" and is 349 % more expensive than the average, followed by "Land" with a cost of $904,074.
Based on the average cost per sq.feet the cheapest property type is "Office with a an average cost of $137 / sq.feet, followed by "Townhouse" with a price of $231 / sq.feet. "Commercial" with an average price of $269,460 / sq.feet is the most costly type of property followed by "Land" at a price of $248,990 / sq.feet.