The prices in real estate in Stellenbosch, in the Western Cape region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Stellenbosch has fallen in the last 6 months. In October, the average price per m² was R 26 754. In November this price pretty much remained the same at a value of R 26 206 per m². The price for the following two months in (December, January) decreased 92 % with regard to the prior two months. The price per m² has decreased 91 % 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 m² of R 25 458 to R 23 057,5 during February, and March.
Based upon to the price in Stellenbosch (cities & towns), this has gone downing the last 6 months. The average price for October is R 3 914 125. During November the price had a considerable reduction till R 3 317 550. In the following two months the average price has remained the same with regard to the previous two months from R 3 615 837,5 to R 3 649 434,5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of R 3 632 636 and R 3 774 869 between February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 3 239 088 they are 49 % more affordable than the average price for Stellenbosch. The properties with the highest average price have 4 bedrooms, Their price is 154 % more costly than the average. After that we have properties with 3 bedrooms priced at R 4 003 028.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 17 595 / m², with an average R 21 141 / m² price in Stellenbosch. The properties with the highest average prices have 1 bedroom. They are 76 % more expensive than the average followed by properties with 2 bedrooms with a price at R 22 694 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 3 239 088 it is 55 % cheaper than the average price in Stellenbosch. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "House". At a price of R 5 109 630 it is 1178 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Commercial" at an average cost of R 2 347 / m² followed by "Townhouse" priced at R 4 588 / m². "Farm" is the most costly type of property with a R 41 395 419 / m² cost followed by "Apartment" with an average price of R 29 339 / m².