The prices in real estate in Ponoka, in the Alberta 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 Ponoka has had a strong decrease during the last 6 months. In March, the average price per sq.feet was $14,440. In April this price pretty much remained the same at a value of $15,071 per sq.feet. The price for the following two months in (May, June) had a considerable decrease of 14 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 3 % 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 $8,376.25 to $284.5 during July, and August.
Based upon to the price in Ponoka (cities), this has gone up in the last 6 months. In our first sample month during March, the average price is $278,989. In April This price remains at $285,728. During the following two months (May, June) the average price had a considerable increase of 124 % 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 87 %, going from $316,462.25 to $276,467.5 in July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $264,803 they are 25 % more affordable than the average price for Ponoka. The properties with the highest average price have 4 bedrooms, Their price is 31 % more costly than the average. After that we have properties with 3 bedrooms priced at $281,476.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $142 / sq.feet, with an average $205 / sq.feet price in Ponoka. The properties with the highest average prices have 4 bedrooms. They are 2 % more expensive than the average followed by properties with 3 bedrooms with a price at $208 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $264,803 it is 41 % cheaper than the average price in Ponoka. "Apartment" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Apartment". At a price of $234,957 it is 1 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $200 / sq.feet followed by "House" priced at $238 / sq.feet. "Land" is the most costly type of property with a $26,899 / sq.feet cost followed by "House" with an average price of $238 / sq.feet.