JR Ōfunato Line Land market overview

The average price of a sq.m Land of JR Ōfunato Line (Ichinoseki to Sakari), in Jan, 2015 to Dec, 2015 was 19,224 JPY/sq.m. The market value represents a decrease of 1,150 JPY (-5.6%) compared to 1 year ago and a transition to a bear market. 148 properties exchanged hands ( The market value represents an increase of 43 (+41.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 385.1 sq.m (a -21.2% decrease compared to the 488.6 sq.m of last year.).

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

8 stations have experienced increased prices; 5 stations have experienced decreased prices. The overall trend was the same as last year. Wakinosawa, Hosoura, Shimofunato station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Wakinosawa station, where prices have increased +83.7% compared to last year; a sq.m unit now costs 16,694 JPY/sq.m.

The top 2 stations has seen prices increase +76.5% (+7,066 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -74.8% (-7,738 JPY/sq.m).


Cause of price increases

  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 1.0% of total transactions in 2014 and 7.4% 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:

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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 36,699 JPY/sq.m. The market value represents an increase of 2,190 JPY (+6.3%) compared to 1 year ago and a transition to a strong market. 8 properties exchanged hands ( The market value represents a decrease of 4 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Mataki, the lowest market value along this railway was 1,727 JPY/sq.m. The market value represents a decrease of 8,273 JPY (-82.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

JR Ōfunato Line (Stations Land market overview)
JR Ōfunato LineThis year(2015)1 year ago2 years ago
Ichinoseki26,888 JPY (0.0Y/481.3sq.m)25,537 JPY (0.0Y/507.0sq.m)28,871 JPY (0.0Y/379.9sq.m)
Mataki1,727 JPY (0.0Y/1100.0sq.m)10,000 JPY (0.0Y/1700.0sq.m)19,642 JPY (0.0Y/280.0sq.m)
Rikuchuukannzaki10,247 JPY (0.0Y/553.3sq.m)9,577 JPY (0.0Y/477.5sq.m)13,928 JPY (0.0Y/280.0sq.m)
Iwanoshita6,000 JPY (0.0Y/80.0sq.m)-12,250 JPY (0.0Y/40.0sq.m)
Rikuchuumatsukawa---
Geibikei--13,444 JPY (0.0Y/310.0sq.m)
Shibajuku--12,043 JPY (0.0Y/320.0sq.m)
Surisawa3,576 JPY (0.0Y/645.0sq.m)10,778 JPY (0.0Y/385.0sq.m)7,179 JPY (0.0Y/277.5sq.m)
Sennmaya10,420 JPY (0.0Y/307.5sq.m)11,207 JPY (0.0Y/660.0sq.m)14,143 JPY (0.0Y/351.8sq.m)
Konashi---
Orikabe--11,000 JPY (0.0Y/600.0sq.m)
Niitsuki--4,387 JPY (0.0Y/980.0sq.m)
Takekoma8,442 JPY (0.0Y/484.0sq.m)12,001 JPY (0.0Y/340.0sq.m)-
Rikuzenntakata13,648 JPY (0.0Y/348.3sq.m)20,982 JPY (0.0Y/271.0sq.m)-
Wakinosawa16,694 JPY (0.0Y/475.0sq.m)9,090 JPY (0.0Y/330.0sq.m)-
Otomo8,063 JPY (0.0Y/318.6sq.m)8,009 JPY (0.0Y/325.7sq.m)-
Hosoura12,829 JPY (0.0Y/311.1sq.m)8,650 JPY (0.0Y/473.9sq.m)10,037 JPY (0.0Y/677.1sq.m)
Shimofunato15,941 JPY (0.0Y/424.0sq.m)9,412 JPY (0.0Y/390.0sq.m)19,503 JPY (0.0Y/498.8sq.m)
Oofunato36,699 JPY (0.0Y/208.8sq.m)34,509 JPY (0.0Y/673.8sq.m)34,961 JPY (0.0Y/297.7sq.m)
Sakari27,741 JPY (0.0Y/323.8sq.m)26,784 JPY (0.0Y/448.5sq.m)26,878 JPY (0.0Y/486.3sq.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

Wakinosawa16,694 JPY/sq.m (+84% compared with the previous year)

The average price of a sq.m Land of Wakinosawa was 16,694 JPY/sq.m. The market value represents an increase of 7,604 JPY (+83.7%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents an increase of 2 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 475.0 sq.m (a +43.9% increase compared to the 330.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 15.0 min in 2014 and 9.0 min in 2015; -40.0%)

Shimofunato15,941 JPY/sq.m (+69% compared with the previous year)

The average price of a sq.m Land of Shimofunato was 15,941 JPY/sq.m. The market value represents an increase of 6,528 JPY (+69.4%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents an increase of 3 (+150.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 424.0 sq.m (a +8.7% increase compared to the 390.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 9.5 min in 2014 and 17.4 min in 2015; +83.2%)

Mataki1,727 JPY/sq.m (-83% compared with the previous year)

The average price of a sq.m Land of Mataki was 1,727 JPY/sq.m. The market value represents a decrease of 8,273 JPY (-82.7%) 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 1100.0 sq.m (a -35.3% decrease compared to the 1700.0 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 30.0 min in 2014 and 26.0 min in 2015; -13.3%)

Surisawa3,576 JPY/sq.m (-67% compared with the previous year)

The average price of a sq.m Land of Surisawa was 3,576 JPY/sq.m. The market value represents a decrease of 7,202 JPY (-66.8%) 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 645.0 sq.m (a +67.5% increase compared to the 385.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 10.5 min in 2014 and 42.0 min in 2015; +300.0%)

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)