The prices in real estate in Salem, in the Oregon region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Salem has increased strongly during the last 6 months. In October, the average price per sq.feet was $178. In November this price pretty much remained the same at a value of $176 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $177 to $183 per sq.feet. The price per sq.feet has had a considerable increase of 248 % 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 $180 to $446.5 during February, and March.
Based upon to the price in Salem (cities), these have remained the same in the last 6 months. The price in October is $370,966, rising in November till $400,445. In the following two months the average price has remained the same with regard to the previous two months from $385,705.5 to $369,749.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $377,727.5 and $371,412.5 between February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $396,836 they are 44 % more affordable than the average price for Salem. The properties with the highest average price have 1 bedroom, Their price is 403 % more costly than the average. After that we have properties with 4 bedrooms priced at $458,222.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $169 / sq.feet, with an average $742 / sq.feet price in Salem. The properties with the highest average prices have 1 bedroom. They are 326 % more expensive than the average followed by properties with 3 bedrooms with a price at $298 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $396,836 it is 14 % cheaper than the average price in Salem. "Farm" is seen as the second most affordable property type. The dearest property type is "House" followed by "Farm". At a price of $356,520 it is 17 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $149 / sq.feet followed by "Farm" priced at $162 / sq.feet. "House" is the most costly type of property with a $3,174 / sq.feet cost followed by "Farm" with an average price of $162 / sq.feet.