The prices in real estate in Brick, 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 Brick has had a strong decrease during the last 6 months. In May, the average price per sq.feet was $2,240. In June this price pretty much remained the same at a value of $2,132 per sq.feet. The price for the following two months in (July, August) had a considerable decrease of 49 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 12 % 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 $1,631.75 to $197 during September, and October.
Based upon to the price in Brick (cities), these have remained the same in the last 6 months. In our first sample month during May, the average price is $388,284. In June This price remains at $398,802. During the following two months (July, August) the average price fell 94 % 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 $381,630.75 to $356,655.5 in September and October.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $385,620 they are 62 % more affordable than the average price for Brick. The properties with the highest average price have 4 bedrooms, Their price is 21 % more costly than the average. After that we have properties with 3 bedrooms priced at $340,680.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $120 / sq.feet, with an average $209 / sq.feet price in Brick. The properties with the lowest average prices have 4 bedrooms. They are 4 % cheaper than the average followed by properties with 3 bedrooms with a price at $193 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $385,620 it is 50 % cheaper than the average price in Brick. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Land" followed by "House". At a price of $378,232 it is 10 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $140 / sq.feet followed by "Townhouse" priced at $157 / sq.feet. "Land" is the most costly type of property with a $2,918 / sq.feet cost followed by "House" with an average price of $189 / sq.feet.