The prices in real estate in Petersburg, in the Virginia 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 Petersburg has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $625. In the following month the price per sq.feet decreased considerably to $68. The price for the following two months in (September, October) had a considerable decrease of 20 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 36 % 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 $208.75 to $76 during November, and December.
Based upon to the price in Petersburg (cities), these have remained the same in the last 6 months. The average price for July is $121,523. During August the price had a considerable reduction till $102,860. During the following two months (September, October) the price has had an average incrementation from $112,191.5 to $125,944. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $119,067.75 and $124,724 between November and December.
The graph displaying the average price for bedrooms illustrates that those properties with 4 bedrooms are the cheapest ones. At a price of $115,113 they are 12 % more affordable than the average price for Petersburg. The properties with the lowest average price have 1 bedroom, Their price is 8 % cheaper than the average. After that we have properties with 4 bedrooms priced at $101,452.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $65 / sq.feet, with an average $72 / sq.feet price in Petersburg. The properties with the lowest average prices have 1 bedroom. They are 3 % cheaper than the average followed by properties with 4 bedrooms with a price at $65 / sq.feet.
The graph displaying the average prices displays the property type "Commercial Property" as the most affordable one. At an cost of $115,113 it is 18 % cheaper than the average price in Petersburg. "Condo" is seen as the second most affordable property type. The cheapest type property is "Commercial" followed by "Apartment". At a price of $101,452 it is 5 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $60 / sq.feet followed by "Apartment" priced at $65 / sq.feet. "Commercial Property" is the most costly type of property with a $1,078 / sq.feet cost followed by "Commercial" with an average price of $67 / sq.feet.