The prices in real estate in Bloomfield, in the New Jersey region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Bloomfield has had a strong decrease during the last 6 months. In November, the average price per sq.feet was $23,830. In the following month the price per sq.feet increased considerably to $32,445. The price for the following two months in (January, February) had a considerable decrease of 21 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 7 % 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 $16,990.25 to $1,266.5 during March, and April.
Based upon to the price in Bloomfield (cities), this has gone up in the last 6 months. In our first sample month during November, the average price is $412,024. In December This price remains at $411,887. During the following two months (January, February) the price has had an average incrementation from $411,955.5 to $457,716. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $434,835.75 and $448,441.5 between March and April.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $507,334 they are 64 % more affordable than the average price for Bloomfield. The properties with the highest average price have 4 bedrooms, Their price is 0 % more costly than the average. After that we have properties with 3 bedrooms priced at $411,213.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $217 / sq.feet, with an average $332 / sq.feet price in Bloomfield. The properties with the highest average prices have 3 bedrooms. They are 3174 % more expensive than the average followed by properties with 2 bedrooms with a price at $6,493 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $507,334 it is 62 % cheaper than the average price in Bloomfield. "Commercial" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Office". At a price of $312,960 it is 6 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $256 / sq.feet followed by "Commercial" priced at $1,928 / sq.feet. "Office" is the most costly type of property with a $17,404 / sq.feet cost followed by "House" with an average price of $8,029 / sq.feet.