The prices in real estate in Ceres, in the Western Cape 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 Ceres has had a strong decrease during the last 6 months. In November, the average price per m² was R 14 263. In the following month the price per m² decreased considerably to R 7 642. The price for the following two months in (January, February) had a considerable decrease of 24 with regard to the prior two months. The price per m² has had a considerable increase of 198 % 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 R 6 798,25 to R 13 456,5 during March, and April.
Based upon to the price in Ceres (cities & towns), this has gone up in the last 6 months. The average price during our first sample month during November, is R 2 427 758. During December the price went through a considerable rise reaching R 3 102 781. During the following two months (January, February) the average price fell 87 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 106 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 2 665 000 they are 57 % more affordable than the average price for Ceres. The properties with the highest average price have 4 bedrooms, Their price is 41 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 701 110.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 11 680 / m², with an average R 15 808 / m² price in Ceres. The properties with the highest average prices have 2 bedrooms. They are 20 % more expensive than the average followed by properties with 1 bedroom with a price at R 17 652 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 2 665 000 it is 61 % cheaper than the average price in Ceres. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Commercial". At a price of R 4 247 842 it is 64 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Commercial" at an average cost of R 5 374 / m² followed by "Townhouse" priced at R 11 505 / m². "Land" is the most costly type of property with a R 4 378 963 / m² cost followed by "Industrial property" with an average price of R 829 328 / m².