The prices in real estate in Salem, in the Connecticut 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 April, the average price per sq.feet was $94. In the following month the price per sq.feet increased considerably to $135. The price for the following two months in (June, July) had a considerable increment of 116 %. The price per sq.feet has had a considerable increase of 140 % 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 $123.75 to $173.5 during August, and September.
Based upon to the price in Salem (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during April, is $166,633. During May the price went through a considerable rise reaching $333,350. During the following two months (June, July) the average price had a considerable increase of 117 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 121 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $315,950 they are 67 % more affordable than the average price for Salem. The properties with the highest average price have 4 bedrooms, Their price is 52 % more costly than the average. After that we have properties with 3 bedrooms priced at $409,569.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $156 / sq.feet, with an average $169 / sq.feet price in Salem. The properties with the highest average prices have 4 bedrooms. They are 16 % more expensive than the average followed by properties with 2 bedrooms with a price at $195 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most costly one. At an cost of $315,950 it is 28 % more expensive than the average price in Salem. "Condo" is seen as the second dearest property type. The dearest property type is "Condo" followed by "House". At a price of $402,852 it is 62 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $111 / sq.feet followed by "House" priced at $185 / sq.feet. "House" is the most costly type of property with a $185 / sq.feet cost followed by "Condo" with an average price of $111 / sq.feet.