The prices in real estate in Luray, in the Virginia region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Luray has had a strong decrease during the last 6 months. In October, the average price per sq.feet was $250. In the following month the price per sq.feet decreased considerably to $181. The price for the following two months in (December, January) had a considerable decrease of 58 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 80 % 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 $169.75 to $135.5 during February, and March.
Based upon to the price in Luray (cities), this has fallen considerably in the last 6 months. The average price for October is $585,260. During November the price had a considerable reduction till $445,150. During the following two months (December, January) the average price had a considerable reduction of 69 % 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 $435,128.5 to $307,930.5, which means a 71 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $292,983 they are 56 % more affordable than the average price for Luray. The properties with the highest average price have 4 bedrooms, Their price is 105 % more costly than the average. After that we have properties with 3 bedrooms priced at $333,028.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $101 / sq.feet, with an average $134 / sq.feet price in Luray. The properties with the lowest average prices have 4 bedrooms. They are 4 % cheaper than the average followed by properties with 2 bedrooms with a price at $127 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $292,983 it is 7 % 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 $271,627 it is 16 % 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 $111 / sq.feet followed by "Commercial" priced at $161 / sq.feet. "Commercial" is the most costly type of property with a $161 / sq.feet cost followed by "House" with an average price of $111 / sq.feet.