The prices in real estate in Charlottetown, in the Prince Edward Island region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Charlottetown has increased strongly during the last 6 months. In September, the average price per sq.feet was $304. In the following month the price per sq.feet increased considerably to $22,515. The price for the following two months in (November, December) had a considerable increment of 236 %. The price per sq.feet has had a considerable increase of 479 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $19,193.5 to $91,949 during January, and February.
Based upon to the price in Charlottetown (cities), these have remained the same in the last 6 months. The price in September is $450,616, rising in October till $486,643. In the following two months the average price has remained the same with regard to the previous two months from $468,629.5 to $477,648.5. During the last two months the average price has had a strong fall compared to the previous four going from $473,139 to $358,002.5, which means a 76 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $474,505 they are 27 % more affordable than the average price for Charlottetown. The properties with the highest average price have 4 bedrooms, Their price is 22 % more costly than the average. After that we have properties with 1 bedroom priced at $549,225.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $267 / sq.feet, with an average $335 / sq.feet price in Charlottetown. The properties with the highest average prices have 1 bedroom. They are 306 % more expensive than the average followed by properties with 2 bedrooms with a price at $351 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $474,505 it is 49 % cheaper than the average price in Charlottetown. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $352,991 it is 15 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $302 / sq.feet followed by "Condo" priced at $343 / sq.feet. "Land" is the most costly type of property with a $183,563 / sq.feet cost followed by "Condo" with an average price of $343 / sq.feet.