The prices in real estate in Warwick, in the Rhode Island 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 Warwick has had a strong decrease during the last 6 months. In September, the average price per sq.feet was $777. In the following month the price per sq.feet decreased considerably to $567. The price for the following two months in (November, December) had a considerable increment of 145 %. The price per sq.feet has had a considerable deflation of 33 % 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 $823.25 to $268 during January, and February.
Based upon to the price in Warwick (cities), these have remained the same in the last 6 months. The average price for September is $462,274. During October the price had a slight fall till $434,564. In the following two months the average price has remained the same with regard to the previous two months from $448,419 to $456,965.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $452,692.25 and $432,901.5 between January and February.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $443,734 they are 41 % more affordable than the average price for Warwick. The properties with the highest average price have 4 bedrooms, Their price is 19 % more costly than the average. After that we have properties with 3 bedrooms priced at $436,211.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $256 / sq.feet, with an average $269 / sq.feet price in Warwick. The properties with the highest average prices have 1 bedroom. They are 49 % more expensive than the average followed by properties with 2 bedrooms with a price at $374 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $443,734 it is 29 % cheaper than the average price in Warwick. "Commercial" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "House". At a price of $456,174 it is 5 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $168 / sq.feet followed by "Townhouse" priced at $248 / sq.feet. "Land" is the most costly type of property with a $57,402 / sq.feet cost followed by "Condo" with an average price of $419 / sq.feet.