The rent prices in real estate in Summit, in the New Jersey region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Summit has had a strong fall during the last 6 months. In April, the average price per sq.feet was $199.79. In the following month the price per sq.feet fell considerably to $82. The price for the following two months in (June, July) had a considerable fall of 33 with regard to the previous two months. The price per sq.feet has had a considerable rise of 166 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $93.45 to $155 during August, and September.
When referring to the price in Summit (cities), this has fallen considerably in the last 6 months. The average price for April is $3,939. During May the price had a considerable fall till $2,614. During the following two months (June, July) the average price had a considerable fall of 43 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 153 % during the last two months.
The graph showing the average price for bedrooms displays the property with the most affordable price has 1 bedroom. It is 43 % more affordable than the average price of $2,237 in Summit. Based on the bedrooms values, properties with the most affordable rent prices are those with 1 bedroom. They are 43 % more affordable than the average aforementioned.
With regard to the average prices per sq.feet those properties with 1 bedroom are 90 % more affordable than the average price of ($19 / sq.feet) in Summit. Properties with the most affordable price when referring to the number of bedrooms / sq.feet are those with 1 bedroom. They are 90 % more affordable than the average value aforementioned.
With regard to the average price based upon the property in Summit we can see that the most affordable property type is "Apartment" at a price of $2,237, they are 43 % cheaper than the average price of (!PRECIO2!). "Apartment" has the most affordable price. This price is 43 % more affordable than the average price aforementioned.
According to the average area price by sq.feet the most affordable property type is "Apartment with an average cost of $19 / sq.feet. "Apartment" with an average price of $19 / sq.feet has the most affordable price and would be directed at less affluent cities.