The prices in real estate in Prairie Grove, in the Arkansas 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 Prairie Grove has had a strong decrease during the last 6 months. In April, the average price per sq.feet was $1,892. In the following month the price per sq.feet decreased considerably to $176. The price for the following two months in (June, July) had a considerable decrease of 63 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 15 % 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 $844.25 to $126.5 during August, and September.
Based upon to the price in Prairie Grove (cities), these have remained the same in the last 6 months. The average price during our first sample month during April, is $288,071. During May the price went through a considerable rise reaching $375,625. During the following two months (June, July) the average price fell 92 % 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 $318,595.5 to $229,800.5, which means a 72 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $228,673 they are 41 % more affordable than the average price for Prairie Grove. The properties with the highest average price have 4 bedrooms, Their price is 29 % more costly than the average. After that we have properties with 3 bedrooms priced at $269,962.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the most costly ones at a cost of $127 / sq.feet, with an average $126 / sq.feet price in Prairie Grove. The properties with the highest average prices have 1 bedroom. They are 10 % more expensive than the average followed by properties with 4 bedrooms with a price at $131 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $228,673 it is 1 % cheaper than the average price in Prairie Grove. "Duplex" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "Duplex". At a price of $268,970 it is 349 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $19 / sq.feet followed by "House" priced at $125 / sq.feet. "Apartment" is the most costly type of property with a $159 / sq.feet cost followed by "House" with an average price of $125 / sq.feet.