JR Ōfunato Line Land market overview

The average price of a sq.m Land of JR Ōfunato Line (Ichinoseki to Sakari), in Jan, 2014 to Dec, 2014 was 20,374 JPY/sq.m. The market value represents a decrease of 6,196 JPY (-23.3%) compared to 1 year ago and a transition to a dramatic market. 105 properties exchanged hands ( The market value represents a decrease of 83 (-44.1%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 488.6 sq.m (a +23.0% increase compared to the 397.2 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.

1 stations have experienced increased prices; 8 stations have experienced decreased prices. Market value of most stations decreased. Surisawa station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Surisawa station, where prices have increased +50.1% compared to last year; a sq.m unit now costs 10,778 JPY/sq.m.

The top 2 stations has seen prices increase +24.9% (+1,753 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -50.4% (-9,866 JPY/sq.m).


Causes of price decreases

  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 6.9% of total transactions in 2013 and 1.0% 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:

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Land stations market overview

The average price of a sq.m Land of Oofunato, the highest market value along this railway was 34,509 JPY/sq.m. The market value represents a decrease of 452 JPY (-1.3%) compared to 1 year ago and a transition to a slight market. 12 properties exchanged hands ( The market value represents a decrease of 18 (-60.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Hosoura, the lowest market value along this railway was 8,650 JPY/sq.m. The market value represents a decrease of 1,388 JPY (-13.8%) compared to 1 year ago and a transition to a weak market. 9 properties exchanged hands ( The market value represents an increase of 2 (+28.6%) 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
Ichinoseki25,537 JPY (0.0Y/507.0sq.m)28,871 JPY (0.0Y/379.9sq.m)29,901 JPY (0.0Y/346.3sq.m)
Mataki10,000 JPY (0.0Y/1700.0sq.m)19,642 JPY (0.0Y/280.0sq.m)14,613 JPY (0.0Y/708.0sq.m)
Rikuchuukannzaki9,577 JPY (0.0Y/477.5sq.m)13,928 JPY (0.0Y/280.0sq.m)7,777 JPY (0.0Y/427.9sq.m)
Iwanoshita-12,250 JPY (0.0Y/40.0sq.m)-
Rikuchuumatsukawa---
Geibikei-13,444 JPY (0.0Y/310.0sq.m)2,187 JPY (0.0Y/640.0sq.m)
Shibajuku-12,043 JPY (0.0Y/320.0sq.m)4,336 JPY (0.0Y/864.0sq.m)
Surisawa10,778 JPY (0.0Y/385.0sq.m)7,179 JPY (0.0Y/277.5sq.m)10,426 JPY (0.0Y/300.0sq.m)
Sennmaya11,207 JPY (0.0Y/660.0sq.m)14,143 JPY (0.0Y/351.8sq.m)13,849 JPY (0.0Y/485.8sq.m)
Konashi---
Orikabe-11,000 JPY (0.0Y/600.0sq.m)-
Niitsuki-4,387 JPY (0.0Y/980.0sq.m)-
Takekoma12,001 JPY (0.0Y/340.0sq.m)--
Rikuzenntakata20,982 JPY (0.0Y/271.0sq.m)--
Wakinosawa9,090 JPY (0.0Y/330.0sq.m)--
Otomo8,009 JPY (0.0Y/325.7sq.m)-18,000 JPY (0.0Y/500.0sq.m)
Hosoura8,650 JPY (0.0Y/473.9sq.m)10,037 JPY (0.0Y/677.1sq.m)13,913 JPY (0.0Y/777.9sq.m)
Shimofunato9,412 JPY (0.0Y/390.0sq.m)19,503 JPY (0.0Y/498.8sq.m)32,698 JPY (0.0Y/408.3sq.m)
Oofunato34,509 JPY (0.0Y/673.8sq.m)34,961 JPY (0.0Y/297.7sq.m)29,898 JPY (0.0Y/709.3sq.m)
Sakari26,784 JPY (0.0Y/448.5sq.m)26,878 JPY (0.0Y/486.3sq.m)22,692 JPY (0.0Y/539.4sq.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

Surisawa10,778 JPY/sq.m (+50% compared with the previous year)

The average price of a sq.m Land of Surisawa was 10,778 JPY/sq.m. The market value represents an increase of 3,599 JPY (+50.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 385.0 sq.m (a +38.7% increase compared to the 277.5 sq.m of last year.).

Causes of price decreases

  • An increase in average distance from the station (representing 9.5 min in 2013 and 10.5 min in 2014; +10.5%)

Sakari26,784 JPY/sq.m (-0% compared with the previous year)

The average price of a sq.m Land of Sakari was 26,784 JPY/sq.m. The market value represents a decrease of 94 JPY (-0.3%) compared to 1 year ago and a transition to a slight market. 27 properties exchanged hands ( The market value represents a decrease of 8 (-22.9%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 448.5 sq.m (a -7.8% decrease compared to the 486.3 sq.m of last year.).

Causes of price decreases

  • An increase in average distance from the station (representing 21.7 min in 2013 and 24.6 min in 2014; +13.4%)

Shimofunato9,412 JPY/sq.m (-52% compared with the previous year)

The average price of a sq.m Land of Shimofunato was 9,412 JPY/sq.m. The market value represents a decrease of 10,090 JPY (-51.7%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 2 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 390.0 sq.m (a -21.8% decrease compared to the 498.8 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 11.0 min in 2013 and 9.5 min in 2014; -13.6%)

Mataki10,000 JPY/sq.m (-49% compared with the previous year)

The average price of a sq.m Land of Mataki was 10,000 JPY/sq.m. The market value represents a decrease of 9,642 JPY (-49.1%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 1700.0 sq.m (a +507.1% increase compared to the 280.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 20.0 min in 2013 and 30.0 min in 2014; +50.0%)

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)