The prices in real estate in Portsmouth, 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 Portsmouth has had a strong decrease during the last 6 months. In June, the average price per sq.feet was $175. In July this price pretty much remained the same at a value of $169 per sq.feet. The price for the following two months in (August, September) had a considerable decrease of 60 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 75 % 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 $137.5 to $103.5 during October, and November.
Based upon to the price in Portsmouth (cities), this has gone downing the last 6 months. The average price for June is $180,369. During July the price had a slight fall till $166,137. During the following two months (August, September) the average price fell 95 % with regard to the previous two months. 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 $168,499.5 and $169,804.5 between October and November.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $177,316 they are 59 % more affordable than the average price for Portsmouth. The properties with the highest average price have 4 bedrooms, Their price is 21 % more costly than the average. After that we have properties with 3 bedrooms priced at $170,690.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $99 / sq.feet, with an average $106 / sq.feet price in Portsmouth. The properties with the highest average prices have 4 bedrooms. They are 6 % more expensive than the average followed by properties with 3 bedrooms with a price at $109 / sq.feet.
The graph displaying the average prices displays the property type "Duplex" as the most affordable one. At an cost of $177,316 it is 36 % cheaper than the average price in Portsmouth. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Office". At a price of $184,884 it is 784 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $88 / sq.feet followed by "House" priced at $102 / sq.feet. "Duplex" is the most costly type of property with a $3,510 / sq.feet cost followed by "Office" with an average price of $816 / sq.feet.