JR Ōfunato Line Land market overview

The average price of a sq.m Land of JR Ōfunato Line (Ichinoseki to Sakari), in Jan, 2013 to Dec, 2013 was 26,570 JPY/sq.m. The market value represents an increase of 2,572 JPY (+10.7%) compared to 1 year ago and a transition to a bull market. 188 properties exchanged hands ( The market value represents an increase of 20 (+11.9%) compared to 1 year ago and a transition to a bull market.).

The average size of the real estate was 397.2 sq.m (a -22.9% decrease compared to the 514.9 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving relatively large size more than 100 sq.m.

7 stations have experienced increased prices; 4 stations have experienced decreased prices. Market value of most stations decreased. Mataki, Rikuchuukannzaki station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Geibikei station, where prices have increased +514.7% compared to last year; a sq.m unit now costs 13,444 JPY/sq.m.

The top 2 stations has seen prices increase +346.3% (+9,482 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -35.8% (-8,221 JPY/sq.m).


Cause of price increases

  • A dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 0.6% of total transactions in 2012 and 2.7% of total transactions in 2013)

Breakdown of each segment

The table below shows Land dealt in JR Ōfunato Line, in age, distance from station, and area segments. For example, we can see market trends, such as which transactions have increased more in recent years, those for newer properties, or older ones.

Segment:

Top

Land stations market overview

The average price of a sq.m Land of Oofunato, the highest market value along this railway was 34,961 JPY/sq.m. The market value represents an increase of 5,063 JPY (+16.9%) compared to 1 year ago and a transition to a bull market. 30 properties exchanged hands ( The market value represents an increase of 2 (+7.1%) compared to 1 year ago and a transition to a strong market.).

The average price of a sq.m Land of Surisawa, the lowest market value along this railway was 7,179 JPY/sq.m. The market value represents a decrease of 3,247 JPY (-31.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 1 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).

JR Ōfunato Line (Stations Land market overview)
JR Ōfunato LineThis year(2013)1 year ago2 years ago
Ichinoseki28,871 JPY (0.0Y/379.9sq.m)29,901 JPY (0.0Y/346.3sq.m)34,209 JPY (0.0Y/348.5sq.m)
Mataki19,642 JPY (0.0Y/280.0sq.m)14,613 JPY (0.0Y/708.0sq.m)15,454 JPY (0.0Y/275.0sq.m)
Rikuchuukannzaki13,928 JPY (0.0Y/280.0sq.m)7,777 JPY (0.0Y/427.9sq.m)5,795 JPY (0.0Y/1440.0sq.m)
Iwanoshita12,250 JPY (0.0Y/40.0sq.m)-11,538 JPY (0.0Y/130.0sq.m)
Rikuchuumatsukawa--3,636 JPY (0.0Y/220.0sq.m)
Geibikei13,444 JPY (0.0Y/310.0sq.m)2,187 JPY (0.0Y/640.0sq.m)-
Shibajuku12,043 JPY (0.0Y/320.0sq.m)4,336 JPY (0.0Y/864.0sq.m)10,860 JPY (0.0Y/370.0sq.m)
Surisawa7,179 JPY (0.0Y/277.5sq.m)10,426 JPY (0.0Y/300.0sq.m)4,142 JPY (0.0Y/565.0sq.m)
Sennmaya14,143 JPY (0.0Y/351.8sq.m)13,849 JPY (0.0Y/485.8sq.m)15,837 JPY (0.0Y/267.5sq.m)
Konashi---
Orikabe11,000 JPY (0.0Y/600.0sq.m)-13,280 JPY (0.0Y/240.0sq.m)
Niitsuki4,387 JPY (0.0Y/980.0sq.m)-3,056 JPY (0.0Y/925.0sq.m)
Takekoma---
Rikuzenntakata--18,313 JPY (0.0Y/385.0sq.m)
Wakinosawa--7,448 JPY (0.0Y/857.5sq.m)
Otomo-18,000 JPY (0.0Y/500.0sq.m)6,220 JPY (0.0Y/480.0sq.m)
Hosoura10,037 JPY (0.0Y/677.1sq.m)13,913 JPY (0.0Y/777.9sq.m)15,560 JPY (0.0Y/648.0sq.m)
Shimofunato19,503 JPY (0.0Y/498.8sq.m)32,698 JPY (0.0Y/408.3sq.m)33,974 JPY (0.0Y/295.0sq.m)
Oofunato34,961 JPY (0.0Y/297.7sq.m)29,898 JPY (0.0Y/709.3sq.m)33,137 JPY (0.0Y/376.4sq.m)
Sakari26,878 JPY (0.0Y/486.3sq.m)22,692 JPY (0.0Y/539.4sq.m)24,259 JPY (0.0Y/810.9sq.m)
*Average unit prices per sq.m of Land at each train station were calculated using the Utinokati database of actual market sales prices (based on surveys conducted by the Ministry of Land, Infrastructure, Transport, and Tourism of Japan). Units: JPY (Japanese Yen); parenthesis contain average age in years of building / equivalent measurement of area of real estate.
Top

Noteworthy stations

Geibikei13,444 JPY/sq.m (+515% compared with the previous year)

The average price of a sq.m Land of Geibikei was 13,444 JPY/sq.m. The market value represents an increase of 11,257 JPY (+514.7%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents an increase of 2 (+200.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 310.0 sq.m (a -51.6% decrease compared to the 640.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 60.0 min in 2012 and 11.7 min in 2013; -80.6%)

Shibajuku12,043 JPY/sq.m (+178% compared with the previous year)

The average price of a sq.m Land of Shibajuku was 12,043 JPY/sq.m. The market value represents an increase of 7,708 JPY (+177.8%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 3 (-60.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 320.0 sq.m (a -63.0% decrease compared to the 864.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 28.4 min in 2012 and 5.0 min in 2013; -82.4%)

Shimofunato19,503 JPY/sq.m (-40% compared with the previous year)

The average price of a sq.m Land of Shimofunato was 19,503 JPY/sq.m. The market value represents a decrease of 13,195 JPY (-40.4%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents an increase of 1 (+33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 498.8 sq.m (a +22.1% increase compared to the 408.3 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 6.0 min in 2012 and 11.0 min in 2013; +83.3%)
  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 66.7% of total transactions in 2012 and 25.0% of total transactions in 2013)

Surisawa7,179 JPY/sq.m (-31% compared with the previous year)

The average price of a sq.m Land of Surisawa was 7,179 JPY/sq.m. The market value represents a decrease of 3,247 JPY (-31.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 1 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 277.5 sq.m (a -7.5% decrease compared to the 300.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 63.7 min in 2012 and 9.5 min in 2013; -85.1%)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

*If you wish to use or reproduce this data, please enter the URL (http://utinokati.com/en/) where the data will be posted. (As a general rule, prior consent is not required.) Our data is based on Ministry of Land, Infrastructure, Transport, and Tourism of Japan (actual market sales prices)