The rent prices in real estate in Morro Bay, in the California region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Morro Bay has had a strong fall during the last 6 months. In September, the average price per sq.feet was $2.4. In the following month the price per sq.feet fell to $2.05. In the following two months the price per sq.feet has risen 106 %, going from $2.22 to $2.36 per sq.feet. The price per sq.feet has had a considerable fall of 71 % 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 $2.29 to $1.63 during January, and February.
When referring to the price in Morro Bay (cities), this has fallen in the last 6 months. In our first sample month during September, the average price is $2,504. In October This price remains at $2,455. During the following two months (November, December) the average price fell 93 % with regard to the previous two months. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 90 %, going from $2,397 to $2,168.5 in January and February.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $2,269 they are 10 % more affordable than the average price for Morro Bay . The properties with the highest average price have 3 bedrooms, Their price is 21 % more expensive than the average. After that we have properties with 2 bedrooms priced at $2,697.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most affordable ones at a cost of $1 / sq.feet, with an average $1.59 / sq.feet price in Morro Bay. The properties with the most expensive average prices have 4 bedrooms. They are 2227 % more expensive than the average followed by properties with 1 bedroom with a price at $2 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $2,269 it is 16 % more affordable than the average price in Morro Bay. "House" is seen as the second most affordable property type. The most affordable property is "House" followed by "Condo". At a price of $1,917 it is 9 % more affordable than the average price.
According to the average cost per sq.feet, the least affordable property would be "House" at an average price of $37 / sq.feet followed by "Condo" priced at $41 / sq.feet. "Condo" is the most expensive type of property with a $41 / sq.feet value followed by "House" with an average price of $37 / sq.feet.