The prices in real estate in Philippi, in the West 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 Philippi has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $373. In the following month the price per sq.feet decreased considerably to $79. The price for the following two months in (September, October) had a considerable decrease of 33 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 72 % 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 $150 to $108.5 during November, and December.
Based upon to the price in Philippi (cities), these have remained the same in the last 6 months. The price in July is $152,001, rising in August till $163,911. During the following two months (September, October) the average price had a considerable reduction of 85 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 110 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $149,253 they are 91 % more affordable than the average price for Philippi. The properties with the lowest average price have 4 bedrooms, Their price is 2 % cheaper than the average. After that we have properties with 3 bedrooms priced at $117,098.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $16 / sq.feet, with an average $103 / sq.feet price in Philippi. The properties with the lowest average prices have 4 bedrooms. They are 21 % cheaper than the average followed by properties with 3 bedrooms with a price at $74 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $149,253 it is 19 % cheaper than the average price in Philippi. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Townhouse". At a price of $140,926 it is 6 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $64 / sq.feet followed by "House" priced at $68 / sq.feet. "Land" is the most costly type of property with a $306 / sq.feet cost followed by "House" with an average price of $68 / sq.feet.