The prices in real estate in Bloomfield, in the New Jersey region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.feet in Bloomfield has fallen in the last 6 months. In March, the average price per sq.feet was $1,960. In the following month the price per sq.feet increased to $2,077. In the following two months the price per sq.feet has increased 109 %, going from $2,018.5 to $2,199 per sq.feet. The price per sq.feet has had a considerable deflation of 58 % 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 $2,108.75 to $1,213 during July, and August.
Based upon to the price in Bloomfield (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during March, is $181,569. During April the price went through a considerable rise reaching $404,048. During the following two months (May, June) the average price had a considerable increase of 157 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 93 %, going from $376,161.25 to $348,225.5 in July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $366,331 they are 33 % more affordable than the average price for Bloomfield. The properties with the highest average price have 3 bedrooms, Their price is 3 % more costly than the average. After that we have properties with 1 bedroom priced at $244,215.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the most costly ones at a cost of $1,280 / sq.feet, with an average $216 / sq.feet price in Bloomfield. The properties with the highest average prices have 1 bedroom. They are 829 % more expensive than the average followed by properties with 3 bedrooms with a price at $1,280 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $366,331 it is 34 % cheaper than the average price in Bloomfield. "Office" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "Condo". At a price of $375,193 it is 3 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Condo" at an average cost of $1,270 / sq.feet followed by "Apartment" priced at $1,280 / sq.feet. "Office" is the most costly type of property with a $17,980 / sq.feet cost followed by "Commercial" with an average price of $1,992 / sq.feet.