The prices in real estate in Bayonne, 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 Bayonne has increased strongly during the last 6 months. In February, the average price per sq.feet was $14,632. In the following month the price per sq.feet increased considerably to $29,005. The price for the following two months in (April, May) had a considerable increment of 224 %. The price per sq.feet has had a considerable increase of 540 % 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 $35,317.5 to $190,820.5 during June, and July.
Based upon to the price in Bayonne (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during February, is $1,100,837. During March the price went through a considerable rise reaching $1,686,062. During the following two months (April, May) the average price had a considerable increase of 195 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $2,058,621.75 to $1,348,160.5, which means a 65 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $965,921 they are 75 % more affordable than the average price for Bayonne. The properties with the lowest average price have 4 bedrooms, Their price is 50 % cheaper than the average. After that we have properties with 3 bedrooms priced at $332,580.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $271 / sq.feet, with an average $36,073 / sq.feet price in Bayonne. The properties with the highest average prices have 4 bedrooms. They are 13 % more expensive than the average followed by properties with 3 bedrooms with a price at $22,594 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $965,921 it is 50 % cheaper than the average price in Bayonne. "Apartment" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "Land". At a price of $481,969 it is 50 % more affordable than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Land" at an average cost of $40,657 / sq.feet followed by "Apartment" priced at $40,862 / sq.feet. "Apartment" is the most costly type of property with a $40,862 / sq.feet cost followed by "Land" with an average price of $40,657 / sq.feet.