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 February, the average price per sq.feet was $228. In the following month the price per sq.feet decreased considerably to $144. The price for the following two months in (April, May) had a considerable decrease of 76 with regard to the prior two months. The price per sq.feet has decreased 87 % 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 $163.25 to $141.5 during June, and July.
Based upon to the price in Prairie Grove (cities), this has fallen considerably in the last 6 months. In our first sample month during February, the average price is $352,425. In March This price remains at $361,633. During the following two months (April, May) the average price had a considerable reduction of 83 % 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 $326,983.75 to $266,988, which means a 82 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $297,087 they are 55 % more affordable than the average price for Prairie Grove. The properties with the highest average price have 4 bedrooms, Their price is 13 % more costly than the average. After that we have properties with 3 bedrooms priced at $291,352.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $125 / sq.feet, with an average $151 / sq.feet price in Prairie Grove. The properties with the highest average prices have 4 bedrooms. They are 193 % more expensive than the average followed by properties with 1 bedroom with a price at $134 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $297,087 it is 25 % 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 $266,288 it is 242 % 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 $9 / sq.feet followed by "House" priced at $115 / sq.feet. "Apartment" is the cheapest type of property with a $149 / sq.feet value followed by "House" with an average price of $115 / sq.feet.