The prices in real estate in Painesville, in the Ohio 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 Painesville has had a strong decrease during the last 6 months. In May, the average price per sq.feet was $986. In the following month the price per sq.feet decreased considerably to $503. The price for the following two months in (July, August) had a considerable decrease of 70 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 59 % 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 $632.5 to $371.5 during September, and October.
Based upon to the price in Painesville (cities), these have remained the same in the last 6 months. The average price during our first sample month during May, is $152,444. During June the price went through a considerable rise reaching $200,293. During the following two months (July, August) the average price had a considerable reduction of 74 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 94 %, going from $153,486.75 to $144,503.5 in September and October.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $155,523 they are 34 % more affordable than the average price for Painesville. The properties with the highest average price have 4 bedrooms, Their price is 63 % more costly than the average. After that we have properties with 3 bedrooms priced at $190,785.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $86 / sq.feet, with an average $108 / sq.feet price in Painesville. The properties with the highest average prices have 3 bedrooms. They are 69 % more expensive than the average followed by properties with 4 bedrooms with a price at $108 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $155,523 it is 62 % cheaper than the average price in Painesville. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Duplex" followed by "House". At a price of $177,988 it is 34 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $77 / sq.feet followed by "Commercial Property" priced at $78 / sq.feet. "Townhouse" is the most costly type of property with a $1,165 / sq.feet cost followed by "Land" with an average price of $868 / sq.feet.