The prices in real estate in Newport, in the Oregon 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 November, the average price per sq.feet was $477. In the following month the price per sq.feet decreased considerably to $236. The price for the following two months in (January, February) had a considerable decrease of 63 with regard to the prior two months. The price per sq.feet has decreased 90 % 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 $290.5 to $260 during March, and April.
Based upon to the price in Newport (cities), this has fallen considerably in the last 6 months. The average price for November is $864,382. During December the price had a considerable reduction till $421,092. During the following two months (January, February) the average price had a considerable reduction of 61 % 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 $518,715.25 to $426,821, which means a 82 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $460,792 they are 51 % more affordable than the average price for Newport. The properties with the highest average price have 3 bedrooms, Their price is 15 % more costly than the average. After that we have properties with 2 bedrooms priced at $301,074.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $150 / sq.feet, with an average $264 / sq.feet price in Newport. The properties with the highest average prices have 1 bedroom. They are 14 % more expensive than the average followed by properties with 3 bedrooms with a price at $248 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $460,792 it is 71 % cheaper than the average price in Newport. "Duplex" is seen as the second most affordable property type. The dearest property type is "House" followed by "Duplex". At a price of $140,801 it is 20 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $74 / sq.feet followed by "Condo" priced at $80 / sq.feet. "House" is the cheapest type of property with a $249 / sq.feet value followed by "Condo" with an average price of $80 / sq.feet.