JR Ōfunato Line Land market overview

The average price of a sq.m Land of JR Ōfunato Line (Ichinoseki to Sakari), in Jul, 2015 to Sep, 2015 was 18,381 JPY/sq.m. The market value represents a decrease of 1,081 JPY (-5.6%) compared to 1 year ago and a transition to a bear market. 57 properties exchanged hands ( The market value represents an increase of 19 (+50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 381.7 sq.m (a -28.7% decrease compared to the 535.0 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was an increase in transactions involving locations more than twenty minutes by foot from the station, outside of walking distance.

5 stations have experienced increased prices; 3 stations have experienced decreased prices. Market value of most stations decreased. Sennmaya station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Rikuchuukannzaki station, where prices have increased +158.6% compared to last year; a sq.m unit now costs 11,904 JPY/sq.m.

The top 2 stations has seen prices increase +105.0% (+5,221 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -52.5% (-10,204 JPY/sq.m).


Causes of price decreases

  • A dramatic decrease in transactions involving locations near to the station less than three minutes by foot from the station (representing 2.6% of total transactions in 2014 and 1.8% of total transactions in 2015)

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 Sakari, the highest market value along this railway was 31,608 JPY/sq.m. The market value represents an increase of 4,768 JPY (+17.8%) compared to 1 year ago and a transition to a bull market. 6 properties exchanged hands ( The market value represents a decrease of 3 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Takekoma, the lowest market value along this railway was 7,363 JPY/sq.m. The market value represents a decrease of 4,578 JPY (-38.3%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 1 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

JR Ōfunato Line (Stations Land market overview)
JR Ōfunato LineThis year(2015)1 year ago2 years ago
Ichinoseki24,597 JPY (0.0Y/485.5sq.m)25,221 JPY (0.0Y/539.1sq.m)23,378 JPY (0.0Y/381.5sq.m)
Mataki-10,000 JPY (0.0Y/1700.0sq.m)-
Rikuchuukannzaki11,904 JPY (0.0Y/420.0sq.m)4,603 JPY (0.0Y/600.0sq.m)13,928 JPY (0.0Y/280.0sq.m)
Iwanoshita6,000 JPY (0.0Y/80.0sq.m)--
Rikuchuumatsukawa---
Geibikei---
Shibajuku--12,142 JPY (0.0Y/280.0sq.m)
Surisawa-10,778 JPY (0.0Y/385.0sq.m)-
Sennmaya9,246 JPY (0.0Y/300.0sq.m)6,105 JPY (0.0Y/880.0sq.m)36,363 JPY (0.0Y/330.0sq.m)
Konashi---
Orikabe--11,000 JPY (0.0Y/600.0sq.m)
Niitsuki--4,387 JPY (0.0Y/980.0sq.m)
Takekoma7,363 JPY (0.0Y/1100.0sq.m)11,940 JPY (0.0Y/345.0sq.m)-
Rikuzenntakata7,941 JPY (0.0Y/340.0sq.m)23,771 JPY (0.0Y/376.7sq.m)-
Wakinosawa-9,090 JPY (0.0Y/330.0sq.m)-
Otomo8,134 JPY (0.0Y/321.3sq.m)7,575 JPY (0.0Y/330.0sq.m)-
Hosoura13,333 JPY (0.0Y/330.0sq.m)-14,355 JPY (0.0Y/530.0sq.m)
Shimofunato28,787 JPY (0.0Y/330.0sq.m)-22,424 JPY (0.0Y/165.0sq.m)
Oofunato25,938 JPY (0.0Y/220.0sq.m)25,384 JPY (0.0Y/1300.0sq.m)32,410 JPY (0.0Y/301.4sq.m)
Sakari31,608 JPY (0.0Y/220.8sq.m)26,840 JPY (0.0Y/405.6sq.m)32,171 JPY (0.0Y/579.1sq.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.
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Noteworthy stations

Rikuchuukannzaki11,904 JPY/sq.m (+159% compared with the previous year)

The average price of a sq.m Land of Rikuchuukannzaki was 11,904 JPY/sq.m. The market value represents an increase of 7,301 JPY (+158.6%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 1 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 420.0 sq.m (a -30.0% decrease compared to the 600.0 sq.m of last year.).

Sennmaya9,246 JPY/sq.m (+51% compared with the previous year)

The average price of a sq.m Land of Sennmaya was 9,246 JPY/sq.m. The market value represents an increase of 3,141 JPY (+51.5%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 300.0 sq.m (a -65.9% decrease compared to the 880.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 35.7 min in 2014 and 14.7 min in 2015; -58.9%)

Rikuzenntakata7,941 JPY/sq.m (-67% compared with the previous year)

The average price of a sq.m Land of Rikuzenntakata was 7,941 JPY/sq.m. The market value represents a decrease of 15,830 JPY (-66.6%) 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 340.0 sq.m (a -9.7% decrease compared to the 376.7 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 19.0 min in 2014 and 28.0 min in 2015; +47.4%)

Takekoma7,363 JPY/sq.m (-38% compared with the previous year)

The average price of a sq.m Land of Takekoma was 7,363 JPY/sq.m. The market value represents a decrease of 4,578 JPY (-38.3%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 1 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 1100.0 sq.m (a +218.8% increase compared to the 345.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 11.5 min in 2014 and 29.0 min in 2015; +152.2%)

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)