The prices in real estate in Pine Plains, 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 Pine Plains has had a strong decrease during the last 6 months. In March, the average price per sq.feet was $182. In the following month the price per sq.feet increased considerably to $253. The price for the following two months in (May, June) had a considerable decrease of 57 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 54 % 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 $171.25 to $92 during July, and August.
Based upon to the price in Pine Plains (cities), these have remained the same in the last 6 months. The average price during our first sample month during March, is $617,746. During April the price went through a considerable rise reaching $1,356,031. During the following two months (May, June) the average price had a considerable reduction of 60 % 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 $790,044.25 to $212,729, which means a 27 % fall.