The prices in real estate in Rio Rico, in the Arizona 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 Rio Rico has had a strong decrease during the last 6 months. In April, the average price per sq.feet was $129. In May this price pretty much remained the same at a value of $131 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $130 to $133 per sq.feet. The price per sq.feet has had a considerable deflation of 52 % 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 $131.5 to $68.5 during August, and September.
Based upon to the price in Rio Rico (cities), this has fallen considerably in the last 6 months. In our first sample month during April, the average price is $241,581. In May This price remains at $230,745. In the following two months the average price has remained the same with regard to the previous two months from $236,163 to $243,963. During the last two months the average price has had a strong fall compared to the previous four going from $240,063 to $126,057.5, which means a 53 % fall.