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 January, the average price per sq.feet was $191. In the following month the price per sq.feet decreased considerably to $151. The price for the following two months in (March, April) had a considerable increment of 465 %. The price per sq.feet has had a considerable increase of 138 % 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 $483.5 to $666.5 during May, and June.
Based upon to the price in Salem (cities), this has gone up in the last 6 months. In our first sample month during January, the average price is $354,726. In February This price remains at $345,989. During the following two months (March, April) the price has had an average incrementation from $350,357.5 to $379,008. Based on an analysis of the first four prices and the last two months the average price has gone up 105 % 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 $388,430 they are 53 % more affordable than the average price for Salem. The properties with the highest average price have 4 bedrooms, Their price is 31 % more costly than the average. After that we have properties with 3 bedrooms priced at $371,912.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $64 / sq.feet, with an average $362 / sq.feet price in Salem. The properties with the highest average prices have 4 bedrooms. They are 461 % more expensive than the average followed by properties with 3 bedrooms with a price at $417 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $388,430 it is 50 % 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 $355,450 it is 18 % 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 $159 / sq.feet followed by "Condo" priced at $196 / sq.feet. "Land" is the most costly type of property with a $972 / sq.feet cost followed by "House" with an average price of $931 / sq.feet.