The rent prices in real estate in Salem, in the Connecticut region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.feet in Salem has risen strongly during the last 6 months. In October, the average price per sq.feet was $1.61. In November this price barely changed remaining at $1.68 per sq.feet. The price for the following two months in (December, January) had a considerable rise of 7629 %. The price per sq.feet has had a considerable fall of 2 % 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 $63.57 to $1.32 during February, and March.
When referring to the price in Salem (cities), this has risen considerably in the last 6 months. In our first sample month during October, the average price is $1,375. In November This price remains at $1,400. During the following two months (December, January) the average price had a considerable rise of 139 % 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 86 %, going from $1,659.5 to $1,434 in February and March.
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 $1,448 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 $1,936. 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 $1,899.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most expensive ones at a cost of $114 / sq.feet, with an average $1 / sq.feet price in Salem. The properties with the most expensive average prices have 1 bedroom. They are 12200 % more expensive than the average followed by properties with 2 bedrooms with a price at $114 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most expensive one. At an cost of $1,448 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 $1,879 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 $104 / sq.feet followed by "House" priced at $114 / sq.feet. "House" is the most expensive type of property with a $114 / sq.feet value followed by "Condo" with an average price of $104 / sq.feet.