The prices in real estate in Rayne, in the Louisiana 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 Rayne has had a strong decrease during the last 6 months. In March, the average price per sq.feet was $1,995. In April this price pretty much remained the same at a value of $2,012 per sq.feet. The price for the following two months in (May, June) had a considerable decrease of 60 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 62 % 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 $1,603.5 to $996.5 during July, and August.
Based upon to the price in Rayne (cities), this has fallen considerably in the last 6 months. In our first sample month during March, the average price is $2,475,604. In April This price remains at $2,544,270. During the following two months (May, June) the average price had a considerable reduction of 61 % 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 $2,019,526.75 to $1,218,200, which means a 60 % fall.