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 October, the average price per sq.feet was $165. In the following month the price per sq.feet increased to $183. The price for the following two months in (December, January) had a considerable increment of 116 %. The price per sq.feet has increased 112 % 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 $188.25 to $211.5 during February, and March.
Based upon to the price in Salem (cities), this has gone up in the last 6 months. The average price for October is $407,170. During November the price had a slight fall till $369,091. During the following two months (December, January) the average price had a considerable increase of 128 % 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 93 %, going from $441,517.25 to $408,958.5 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $376,093 they are 43 % more affordable than the average price for Salem. The properties with the highest average price have 4 bedrooms, Their price is 30 % more costly than the average. After that we have properties with 3 bedrooms priced at $362,444.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $197 / sq.feet, with an average $221 / sq.feet price in Salem. The properties with the highest average prices have 4 bedrooms. They are 560 % more expensive than the average followed by properties with 2 bedrooms with a price at $387 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $376,093 it is 29 % 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 $352,259 it is 21 % 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 $150 / sq.feet followed by "Condo" priced at $185 / sq.feet. "Apartment" is the most costly type of property with a $833 / sq.feet cost followed by "House" with an average price of $206 / sq.feet.