The prices in real estate in Luray, in the Virginia region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Luray has increased strongly during the last 6 months. In March, the average price per sq.feet was $138. In the following month the price per sq.feet increased considerably to $297. The price for the following two months in (May, June) had a considerable increment of 199 %. The price per sq.feet has had a considerable deflation of 37 % 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 $325.5 to $119 during July, and August.
Based upon to the price in Luray (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during March, is $225,745. During April the price went through a considerable rise reaching $339,280. During the following two months (May, June) the average price had a considerable increase of 144 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $344,480.5 to $264,988, which means a 77 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $283,089 they are 54 % more affordable than the average price for Luray. The properties with the highest average price have 4 bedrooms, Their price is 114 % more costly than the average. After that we have properties with 3 bedrooms priced at $335,373.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $108 / sq.feet, with an average $121 / sq.feet price in Luray. The properties with the highest average prices have 4 bedrooms. They are 12 % more expensive than the average followed by properties with 2 bedrooms with a price at $134 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $283,089 it is 3 % cheaper than the average price in Luray. "Commercial" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $273,539 it is 21 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $118 / sq.feet followed by "Commercial" priced at $168 / sq.feet. "Commercial" is the most costly type of property with a $168 / sq.feet cost followed by "House" with an average price of $118 / sq.feet.