The rent prices in real estate in Salem, in the Connecticut region have slightly fallen in the last couple of months. There has been a fall in the rent prices in this city.
The price per sq.feet in Salem has fallen during the last 6 months. In April, the average price per sq.feet was $80. In May this price barely changed remaining at $80 per sq.feet. The price for the following two months in (June, July) had a considerable rise of 158 %. The price per sq.feet has had a considerable fall of 15 % 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 $103.25 to $15.7 during August, and September.
When referring to the price in Salem (cities), there have hardly been any changes in the last 6 months. In our first sample month during April, the average price is $1,552. In May This price remains at $1,552. During the following two months (June, July) the average price had a considerable rise of 125 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from $1,742.75 to $1,310, which means a 75 % fall.
The graph displaying the average rent price for bedrooms illustrates that those properties with 2 bedrooms are the most expensive ones. At a price of $1,450 they are 31 % more expensive than the average price for Salem. Following this ranking we find those properties with 1 at an average price of $1,938. The properties with the highest average price have 1 bedroom, Their price is 34 % more expensive than the average. After that we have properties with 2 bedrooms priced at $1,901.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most expensive ones at a cost of $115 / sq.feet, with an average $1.41 / sq.feet price in Salem. The properties with the most expensive average prices have 1 bedroom. They are 8694 % more expensive than the average followed by properties with 2 bedrooms with a price at $115 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most expensive one. At an cost of $1,450 it is 30 % more expensive than the average price in Salem. "House" is seen as the second most expensive property type. The most expensive property type is "House" followed by "Condo". At a price of $1,891 it is 31 % more expensive than the average price.
According to the average cost per sq.feet, the least affordable property would be "Condo" at an average price of $110 / sq.feet followed by "House" priced at $115 / sq.feet. "House" is the most expensive type of property with a $115 / sq.feet value followed by "Condo" with an average price of $110 / sq.feet.