Miyagi JR Joban Line Home market overview [Show ]

The average price of a sq.m Home of Miyagi JR JR Joban Line, in 2017 was 133,077 JPY/sq.m. The market value represents a decrease of 40,522 JPY (-23.3%) compared to 1 year ago and a transition to a dramatic market. 26 properties exchanged hands ( The market value represents a decrease of 17 (-39.5%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 15.0 years old (a +2.5% increase compared to the 14.7 years old of last year.). The average size of the real estate was 272.9 sq.m (a -26.8% decrease compared to the 373.0 sq.m of last year.). The average total floor space of the real estate was 135.0 sq.m (a -7.3% decrease compared to the 145.6 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, as well as a dramatic increase in transactions involving locations less than ten minutes by foot from the station.

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 28.1 min in 2016 and 21.9 min in 2017; -22.2%)
  • A dramatic increase in transactions involving nearly new buildings under 3 years old (representing 32.5% of total transactions in 2016 and 44.0% of total transactions in 2017)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 32.5% of total transactions in 2016 and 24.0% of total transactions in 2017)

Causes of price decreases

  • A dramatic increase in transactions involving older buildings over 40 years old (representing 5.0% of total transactions in 2016 and 12.0% of total transactions in 2017)
  • A dramatic decrease in transactions involving recently constructed buildings under 6 years old (representing 7.5% of total transactions in 2016 and 4.0% of total transactions in 2017)

The highest Home market value is Iwanuma at 200,000 JPY/sq.m. On the other hand, those with the lowest market value is Sakamoto at 66,666 JPY/sq.m.

In accordance with the aging of buildings, the stations whose values were most likely to decline was the Hamayoshida at -61.0% (The rate of decline after 30 years). On the other hand, market values along the Iwanuma was the most resistant to decline at -35.0% (The same rate).

Data regarding the market value and its changes of Home in JR Joban Line were calculated using data on the sales of 774 properties provided by the MLIT Japan.

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Market value

StationsAverage Trading PriceAverage Unit Price
Sakamoto9,133,333 JPY78,458 JPY/sq.m
Yamashita8,050,000 JPY70,694 JPY/sq.m
Hamayoshida11,951,250 JPY77,894 JPY/sq.m
Watari20,934,286 JPY153,526 JPY/sq.m
Ookuma16,886,842 JPY150,979 JPY/sq.m
Iwanuma [Utilization ]27,776,744 JPY189,438 JPY/sq.m