Property prices for sale in Newport (Rhode Island)
The prices in real estate in Newport, in the Rhode Island 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 October, the average price per sq.feet was $590. In the following month the price per sq.feet decreased to $538. The price for the following two months in (December, January) decreased 86 % 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 $524 to $419 during February, and March.
Based upon to the price in Newport (cities), this has fallen considerably in the last 6 months. The average price for October is $1,516,996. During November the price had a slight fall till $1,433,230. During the following two months (December, January) the average price had a considerable reduction of 83 % 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 $1,353,011 to $956,292.5, 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 $908,816 they are 51 % more affordable than the average price for Newport. The properties with the highest average price have 3 bedrooms, Their price is 24 % more costly than the average. After that we have properties with 4 bedrooms priced at $647,214.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $326 / sq.feet, with an average $408 / sq.feet price in Newport. The properties with the highest average prices have 1 bedroom. They are 109 % more expensive than the average followed by properties with 3 bedrooms with a price at $562 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $908,816 it is 98 % cheaper than the average price in Newport. "Condo" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $1,503,494 it is 111 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $9 / sq.feet followed by "Commercial" priced at $446 / sq.feet. "Condo" is the most costly type of property with a $923 / sq.feet cost followed by "House" with an average price of $516 / sq.feet.
