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 February, the average price per sq.feet was $151. In the following month the price per sq.feet increased considerably to $742. The price for the following two months in (April, May) had a considerable increment of 204 %. The price per sq.feet has had a considerable deflation of 44 % 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 $678.5 to $300 during June, and July.
Based upon to the price in Salem (cities), this has gone up in the last 6 months. The price in February is $345,989, rising in March till $396,836. In the following two months the average price has remained the same with regard to the previous two months from $371,412.5 to $369,452. 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 $370,432.25 and $385,770 between June and July.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $383,110 they are 47 % more affordable than the average price for Salem. The properties with the highest average price have 4 bedrooms, Their price is 29 % more costly than the average. After that we have properties with 3 bedrooms priced at $375,761.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $123 / sq.feet, with an average $238 / sq.feet price in Salem. The properties with the highest average prices have 4 bedrooms. They are 1383 % more expensive than the average followed by properties with 3 bedrooms with a price at $599 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $383,110 it is 33 % cheaper than the average price in Salem. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Farm". At a price of $355,094 it is 19 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Farm" at an average cost of $158 / sq.feet followed by "Condo" priced at $188 / sq.feet. "House" is the most costly type of property with a $1,211 / sq.feet cost followed by "Land" with an average price of $878 / sq.feet.