The prices in real estate in Somerset West, in the Western Cape region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per m² in Somerset West has remained the same in the last 6 months. In October, the average price per m² was R 18 534. In November this price pretty much remained the same at a value of R 18 020 per m². In the following two months the price per m² has barely changed, going from R 18 277 to R 18 964,5 per m². The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of R 18 620,75 to R 18 870,5 during February y March
Based upon to the price in Somerset West (cities & towns), this has gone downing the last 6 months. In our first sample month during October, the average price is R 3 853 137. In November This price remains at R 3 683 299. In the following two months the average price has remained the same with regard to the previous two months from R 3 768 218 to R 3 828 855,5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 89 %, going from R 3 798 536,75 to R 3 369 017,5 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 3 299 520 they are 62 % more affordable than the average price for Somerset West. The properties with the highest average price have 4 bedrooms, Their price is 111 % more costly than the average. After that we have properties with 3 bedrooms priced at R 3 579 630.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 16 944 / m², with an average R 18 890 / m² price in Somerset West. The properties with the highest average prices have 1 bedroom. They are 36 % more expensive than the average followed by properties with 2 bedrooms with a price at R 19 109 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 3 299 520 it is 51 % cheaper than the average price in Somerset West. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Flat" followed by "Land". At a price of R 5 049 443 it is 172 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of R 17 391 / m² followed by "Townhouse" priced at R 18 750 / m². "Flat" is the most costly type of property with a R 8 966 558 / m² cost followed by "Land" with an average price of R 5 049 443 / m².