The prices in real estate in Cliffside Park, 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 Cliffside Park has increased strongly during the last 6 months. In February, the average price per sq.feet was $306. In the following month the price per sq.feet increased considerably to $510. The price for the following two months in (April, May) had a considerable increment of 115 %. The price per sq.feet has had a considerable deflation of 85 % 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 $439.25 to $372.5 during June, and July.
Based upon to the price in Cliffside Park (cities), this has fallen considerably in the last 6 months. The average price for February is $1,017,089. During March the price had a slight fall till $873,971. During the following two months (April, May) the average price fell 94 % 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 $917,664.75 to $725,786.5, which means a 79 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $689,069 they are 46 % more affordable than the average price for Cliffside Park. The properties with the highest average price have 4 bedrooms, Their price is 160 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,007,650.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $353 / sq.feet, with an average $371 / sq.feet price in Cliffside Park. The properties with the highest average prices have 3 bedrooms. They are 41 % more expensive than the average followed by properties with 4 bedrooms with a price at $480 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $689,069 it is 12 % cheaper than the average price in Cliffside Park. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $1,094,238 it is 120 % 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 $333 / sq.feet followed by "Condo" priced at $368 / sq.feet. "Commercial" is the most costly type of property with a $24,369 / sq.feet cost followed by "Condo" with an average price of $368 / sq.feet.