The prices in real estate in Salem, in the Wisconsin 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 $165. In March this price pretty much remained the same at a value of $173 per sq.feet. The price for the following two months in (April, May) had a considerable increment of 181 %. The price per sq.feet has decreased 85 % 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 $237.25 to $202 during June, and July.
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 February, is $290,000. During March the price went through a considerable rise reaching $352,767. During the following two months (April, May) the average price had a considerable increase of 267 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 95 %, going from $589,387.75 to $559,094.5 in 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 $486,856 they are 64 % more affordable than the average price for Salem. The properties with the lowest average price have 4 bedrooms, Their price is 2 % cheaper than the average. After that we have properties with 3 bedrooms priced at $257,042.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $127 / sq.feet, with an average $213 / sq.feet price in Salem. The properties with the highest average prices have 1 bedroom. They are 1 % more expensive than the average followed by properties with 4 bedrooms with a price at $155 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $486,856 it is 42 % cheaper than the average price in Salem. "Townhouse" is seen as the second most affordable property type. The cheapest type property is "Townhouse" followed by "House". At a price of $280,890 it is 22 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $133 / sq.feet followed by "House" priced at $135 / sq.feet. "House" is the cheapest type of property with a $135 / sq.feet value followed by "Townhouse" with an average price of $133 / sq.feet.