The prices in real estate in Salem, in the Oregon region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Salem has had a strong decrease during the last 6 months. In April, the average price per sq.feet was $850. In the following month the price per sq.feet increased to $971. The price for the following two months in (June, July) had a considerable decrease of 33 with regard to the prior two months. The price per sq.feet has had a considerable increase of 142 % 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 $605.25 to $857.5 during August, and September.
Based upon to the price in Salem (cities), this has gone up in the last 6 months. In our first sample month during April, the average price is $361,180. In May This price remains at $377,724. In the following two months the average price has remained the same with regard to the previous two months from $369,452 to $385,770. Based on an analysis of the first four prices and the last two months the average price has gone up 111 % 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 $429,064 they are 50 % more affordable than the average price for Salem. The properties with the highest average price have 4 bedrooms, Their price is 14 % more costly than the average. After that we have properties with 3 bedrooms priced at $362,807.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $198 / sq.feet, with an average $645 / sq.feet price in Salem. The properties with the highest average prices have 4 bedrooms. They are 127 % more expensive than the average followed by properties with 2 bedrooms with a price at $388 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $429,064 it is 43 % 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 $354,383 it is 6 % 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 $156 / sq.feet followed by "Condo" priced at $181 / sq.feet. "Land" is the most costly type of property with a $922 / sq.feet cost followed by "House" with an average price of $834 / sq.feet.