The prices in real estate in Newport, 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 Newport has had a strong decrease during the last 6 months. In June, the average price per sq.feet was $11,547. In the following month the price per sq.feet decreased considerably to $5,224. The price for the following two months in (August, September) had a considerable decrease of 1 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 3 % 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 $4,246 to $113 during October, and November.
Based upon to the price in Newport (cities), this has fallen considerably in the last 6 months. The average price for June is $444,150. During July the price had a slight fall till $382,228. During the following two months (August, September) the average price had a considerable reduction of 46 % 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 $301,326 to $187,492.5, which means a 62 % fall.