The prices in real estate in Suffolk, in the Virginia 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 Suffolk has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $236. In the following month the price per sq.feet decreased considerably to $134. The price for the following two months in (September, October) had a considerable decrease of 71 with regard to the prior two months. The price per sq.feet has decreased 86 % 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 $158.25 to $136.5 during November, and December.
Based upon to the price in Suffolk (cities), these have remained the same in the last 6 months. In our first sample month during July, the average price is $321,360. In August This price remains at $322,508. In the following two months the average price has remained the same with regard to the previous two months from $321,934 to $311,549.5. 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 showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 12 % cheaper than the average price of $307,639 in Suffolk. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 12 % more affordable than the average aforementioned.
With regard to the average prices per sq.feet those properties with 1 bedroom are 3 % cheaper than the average price of ($132 / sq.feet) in Suffolk. Properties with the most affordable price based upon to the number of bedrooms / sq.feet are those with 1 bedroom. They are 3 % cheaper than the average value aforementioned.
The graph displaying the average prices displays the property type "Farm" as the most affordable one. At an cost of $348,306 it is 13 % cheaper than the average price in Suffolk. "Townhouse" is seen as the second most affordable property type. The cheapest type property is "Condo" followed by "Apartment". At a price of $307,639 it is 7 % 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 $125 / sq.feet followed by "Condo" priced at $130 / sq.feet. "Apartment" is the cheapest type of property with a $132 / sq.feet value followed by "Condo" with an average price of $130 / sq.feet.