JR Ōfunato Line Land market overview

The average price of a sq.m Land of JR Ōfunato Line (Ichinoseki to Sakari), in Apr, 2014 to Jun, 2014 was 22,446 JPY/sq.m. The market value represents a decrease of 4,471 JPY (-16.6%) compared to 1 year ago and a transition to a weak market. 32 properties exchanged hands ( The market value represents a decrease of 15 (-31.9%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 489.7 sq.m (a +10.6% increase compared to the 442.9 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations relatively far from the station less than twenty minutes by foot from the station.

2 stations have experienced increased prices; 2 stations have experienced decreased prices. Market value of most stations decreased. Oofunato, Sakari station has seen a price increase of over 10% compared to last year. The most dramatic price increase was at Oofunato station, where prices have increased +13.5% compared to last year; a sq.m unit now costs 39,624 JPY/sq.m.

The top 1 stations has seen prices increase +13.5% (+4,705 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -47.8% (-8,852 JPY/sq.m).


Cause of price increases

  • An decrease in average distance from the station (representing 27.1 min in 2013 and 22.2 min in 2014; -18.2%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 2.1% of total transactions in 2013 and 3.1% of total transactions in 2014)

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 39,624 JPY/sq.m. The market value represents an increase of 4,705 JPY (+13.5%) compared to 1 year ago and a transition to a bull market. 8 properties exchanged hands ( The market value represents an increase of 2 (+33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Shimofunato, the lowest market value along this railway was 9,677 JPY/sq.m. The market value represents a decrease of 8,852 JPY (-47.8%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 2 (-66.7%) compared to 1 year ago and a transition to a dramatic market.).

JR Ōfunato Line (Stations Land market overview)
JR Ōfunato LineThis year(2014)1 year ago2 years ago
Ichinoseki24,182 JPY (0.0Y/250.0sq.m)30,986 JPY (0.0Y/471.3sq.m)33,354 JPY (0.0Y/445.0sq.m)
Mataki---
Rikuchuukannzaki11,235 JPY (0.0Y/436.7sq.m)--
Iwanoshita---
Rikuchuumatsukawa---
Geibikei-14,146 JPY (0.0Y/410.0sq.m)-
Shibajuku---
Surisawa-7,692 JPY (0.0Y/390.0sq.m)-
Sennmaya-11,286 JPY (0.0Y/447.5sq.m)18,764 JPY (0.0Y/342.5sq.m)
Konashi---
Orikabe---
Niitsuki---
Takekoma---
Rikuzenntakata---
Wakinosawa---
Otomo--18,000 JPY (0.0Y/500.0sq.m)
Hosoura10,042 JPY (0.0Y/547.5sq.m)-3,391 JPY (0.0Y/1057.5sq.m)
Shimofunato9,677 JPY (0.0Y/310.0sq.m)18,529 JPY (0.0Y/610.0sq.m)26,666 JPY (0.0Y/450.0sq.m)
Oofunato39,624 JPY (0.0Y/704.4sq.m)34,919 JPY (0.0Y/246.7sq.m)34,014 JPY (0.0Y/837.5sq.m)
Sakari27,770 JPY (0.0Y/368.9sq.m)24,936 JPY (0.0Y/452.8sq.m)29,517 JPY (0.0Y/320.0sq.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

Oofunato39,624 JPY/sq.m (+13% compared with the previous year)

The average price of a sq.m Land of Oofunato was 39,624 JPY/sq.m. The market value represents an increase of 4,705 JPY (+13.5%) compared to 1 year ago and a transition to a bull market. 8 properties exchanged hands ( The market value represents an increase of 2 (+33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 704.4 sq.m (a +185.6% increase compared to the 246.7 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 9.0 min in 2013 and 11.4 min in 2014; +26.4%)
  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 16.7% of total transactions in 2013 and 12.5% of total transactions in 2014)

Shimofunato9,677 JPY/sq.m (-48% compared with the previous year)

The average price of a sq.m Land of Shimofunato was 9,677 JPY/sq.m. The market value represents a decrease of 8,852 JPY (-47.8%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 2 (-66.7%) 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 -49.2% decrease compared to the 610.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 13.3 min in 2013 and 18.0 min in 2014; +35.0%)

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)