The prices in real estate in Niagara-on-the-lake, in the Ontario 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 Niagara-on-the-lake has had a strong decrease during the last 6 months. In April, the average price per sq.feet was $890. In May this price pretty much remained the same at a value of $866 per sq.feet. The price for the following two months in (June, July) had a considerable decrease of 80 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 77 % 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 $789.25 to $608.5 during August, and September.
Based upon to the price in Niagara-on-the-lake (cities), this has fallen considerably in the last 6 months. In our first sample month during April, the average price is $2,050,310. In May This price remains at $1,969,599. During the following two months (June, July) the average price had a considerable reduction of 78 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $1,790,099.5 to $1,225,791, which means a 68 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $1,262,782 they are 40 % more affordable than the average price for Niagara-on-the-lake. The properties with the highest average price have 1 bedroom, Their price is 58 % more costly than the average. After that we have properties with 4 bedrooms priced at $1,410,533.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $453 / sq.feet, with an average $623 / sq.feet price in Niagara-on-the-lake. The properties with the highest average prices have 1 bedroom. They are 438 % more expensive than the average followed by properties with 4 bedrooms with a price at $621 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $1,262,782 it is 30 % cheaper than the average price in Niagara-on-the-lake. "House" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Townhouse". At a price of $882,083 it is 20 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $501 / sq.feet followed by "Townhouse" priced at $569 / sq.feet. "Townhouse" is the cheapest type of property with a $569 / sq.feet value followed by "House" with an average price of $501 / sq.feet.