The prices in real estate in Niagara Falls, in the New York 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 Niagara Falls has had a strong decrease during the last 6 months. In August, the average price per sq.feet was $126. In the following month the price per sq.feet decreased considerably to $70. The price for the following two months in (October, November) had a considerable decrease of 78 with regard to the prior two months. The price per sq.feet has decreased 86 % 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 $87 to $74.5 during December, and January.
Based upon to the price in Niagara Falls (cities), this has fallen considerably in the last 6 months. The average price for August is $202,981. During September the price had a considerable reduction till $88,393. During the following two months (October, November) the average price had a considerable reduction of 66 % 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 $121,002 to $95,709, which means a 79 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $91,615 they are 14 % more affordable than the average price for Niagara Falls. The properties with the highest average price have 3 bedrooms, Their price is 13 % more costly than the average. After that we have properties with 4 bedrooms priced at $97,231.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $61 / sq.feet, with an average $73 / sq.feet price in Niagara Falls. The properties with the highest average prices have 1 bedroom. They are 133 % more expensive than the average followed by properties with 2 bedrooms with a price at $109 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most costly one. At an cost of $91,615 it is 17 % more expensive than the average price in Niagara Falls. "Condo" is seen as the second dearest property type. The dearest property type is "Commercial" followed by "Townhouse". At a price of $144,841 it is 152 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "House" at an average cost of $75 / sq.feet followed by "Condo" priced at $114 / sq.feet. "Townhouse" is the most costly type of property with a $160 / sq.feet cost followed by "Commercial" with an average price of $153 / sq.feet.