The prices in real estate in Cagayan De Oro City, in the Cagayan De Oro 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 m² in Cagayan De Oro City has had a strong decrease during the last 6 months. In October, the average price per m² was ₱ 67,771. In the following month the price per m² decreased to ₱ 58,044. The price for the following two months in (December, January) had a considerable decrease of 81 with regard to the prior two months. The price per m² has had a considerable deflation of 67 % 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 m² of ₱ 57,071.75 to ₱ 38,384.5 during February, and March.
Based upon to the price in Cagayan De Oro City (cities), these have remained the same in the last 6 months. In our first sample month during October, the average price is ₱ 6,103,227. In November This price remains at ₱ 5,978,882. During the following two months (December, January) the price has had an average incrementation from ₱ 6,041,054.5 to ₱ 6,835,691.5. During the last two months the average price has had a strong fall compared to the previous four going from ₱ 6,438,373 to ₱ 4,938,186, which means a 77 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 3,877,140 they are 26 % more affordable than the average price for Cagayan De Oro City. The properties with the highest average price have 4 bedrooms, Their price is 126 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 4,833,393.
With regard to the average price per m² , those properties with 2 bedrooms are the most costly ones at a cost of ₱ 44,094 / m², with an average ₱ 27,502 / m² price in Cagayan De Oro City. The properties with the highest average prices have 1 bedroom. They are 214 % more expensive than the average followed by properties with 4 bedrooms with a price at ₱ 54,815 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 3,877,140 it is 6 % cheaper than the average price in Cagayan De Oro City. "Condominium" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Lot". At a price of ₱ 10,546,807 it is 2128 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 18,893 / m² followed by "House" priced at ₱ 31,107 / m². "Condominium" is the most costly type of property with a ₱ 136,473 / m² cost followed by "Commercial Lot" with an average price of ₱ 86,303 / m².
