The prices in real estate in Riverhead, in the New York 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 Riverhead has had a strong decrease during the last 6 months. In April, the average price per sq.feet was $407. In the following month the price per sq.feet decreased considerably to $255. The price for the following two months in (June, July) had a considerable decrease of 74 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 78 % 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 $288.75 to $226.5 during August, and September.
Based upon to the price in Riverhead (cities), this has gone downing the last 6 months. In our first sample month during April, the average price is $478,988. In May This price remains at $483,145. In the following two months the average price has remained the same with regard to the previous two months from $481,066.5 to $477,183.5. During the last two months the average price has had a strong fall compared to the previous four going from $479,125 to $404,116, which means a 84 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $460,414 they are 51 % more affordable than the average price for Riverhead. The properties with the lowest average price have 3 bedrooms, Their price is 22 % cheaper than the average. After that we have properties with 1 bedroom priced at $227,862.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $149 / sq.feet, with an average $239 / sq.feet price in Riverhead. The properties with the lowest average prices have 3 bedrooms. They are 20 % cheaper than the average followed by properties with 1 bedroom with a price at $149 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $460,414 it is 68 % cheaper than the average price in Riverhead. "House" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Townhouse". At a price of $148,278 it is 22 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $96 / sq.feet followed by "House" priced at $191 / sq.feet. "House" is the cheapest type of property with a $191 / sq.feet value followed by "Townhouse" with an average price of $96 / sq.feet.