The prices in real estate in Salem, in the Oregon region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Salem has increased during the last 6 months. In March, the average price per sq.feet was $221. In April this price pretty much remained the same at a value of $222 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $221.5 to $224 per sq.feet. The price per sq.feet has had a considerable increase of 121 % 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 $222.75 to $269 during July, and August.
Based upon to the price in Salem (cities), this has gone up considerably in the last 6 months. In our first sample month during March, the average price is $376,093. In April This price remains at $377,151. During the following two months (May, June) the price has had an average incrementation from $376,622 to $406,468. Based on an analysis of the first four prices and the last two months the average price has risen strongly 129 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $570,249 they are 58 % more affordable than the average price for Salem. The properties with the lowest average price have 4 bedrooms, Their price is 10 % cheaper than the average. After that we have properties with 3 bedrooms priced at $362,629.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $201 / sq.feet, with an average $307 / sq.feet price in Salem. The properties with the highest average prices have 1 bedroom. They are 36 % more expensive than the average followed by properties with 3 bedrooms with a price at $212 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $570,249 it is 53 % cheaper than the average price in Salem. "Condo" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "Farm". At a price of $350,499 it is 7 % 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 $145 / sq.feet followed by "Condo" priced at $185 / sq.feet. "Apartment" is the cheapest type of property with a $236 / sq.feet value followed by "House" with an average price of $206 / sq.feet.