The prices in real estate in Atlantic City, in the New Jersey region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Atlantic City has increased strongly during the last 6 months. In February, the average price per sq.feet was $95. In the following month the price per sq.feet decreased considerably to $77. In the following two months the price per sq.feet has increased 111 %, going from $86 to $95.5 per sq.feet. The price per sq.feet has had a considerable increase of 161 % 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 $90.75 to $146.5 during June, and July.
Based upon to the price in Atlantic City (cities), these have remained the same in the last 6 months. The average price for February is $131,199. During March the price had a considerable reduction till $105,100. During the following two months (April, May) the price has had an average incrementation from $118,149.5 to $130,108. Based on an analysis of the first four prices and the last two months the average price has gone up 107 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $135,534 they are 40 % more affordable than the average price for Atlantic City. The properties with the highest average price have 1 bedroom, Their price is 191 % more costly than the average. After that we have properties with 4 bedrooms priced at $180,113.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $55 / sq.feet, with an average $148 / sq.feet price in Atlantic City. The properties with the highest average prices have 1 bedroom. They are 876 % more expensive than the average followed by properties with 4 bedrooms with a price at $114 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $135,534 it is 13 % cheaper than the average price in Atlantic City. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Land". At a price of $388,804 it is 313 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $77 / sq.feet followed by "Commercial" priced at $933 / sq.feet. "Condo" is the most costly type of property with a $41,638 / sq.feet cost followed by "Land" with an average price of $1,415 / sq.feet.