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 November, the average price per sq.feet was $538. In the following month the price per sq.feet decreased to $499. The price for the following two months in (January, February) decreased 87 % with regard to the prior two months. The price per sq.feet has had a considerable deflation of 83 % 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 $484 to $404 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 $1,433,230. During December the price had a considerable reduction till $1,207,234. During the following two months (January, February) the average price fell 86 % 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 $1,224,704.25 to $948,154.5, 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 $987,493 they are 57 % more affordable than the average price for Newport. The properties with the highest average price have 3 bedrooms, Their price is 36 % more costly than the average. After that we have properties with 4 bedrooms priced at $1,203,912.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the most costly ones at a cost of $413 / sq.feet, with an average $400 / sq.feet price in Newport. The properties with the highest average prices have 3 bedrooms. They are 67 % more expensive than the average followed by properties with 1 bedroom with a price at $636 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $987,493 it is 79 % 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 $1,893,309 it is 94 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Commercial" at an average cost of $445 / sq.feet followed by "House" priced at $612 / sq.feet. "Apartment" is the most costly type of property with a $1,789 / sq.feet cost followed by "Condo" with an average price of $763 / sq.feet.
