The prices in real estate in Fort Lee, 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 Fort Lee has increased strongly during the last 6 months. In May, the average price per sq.feet was $254. In the following month the price per sq.feet increased considerably to $31,506. The price for the following two months in (July, August) had a considerable increment of 271 %. The price per sq.feet has had a considerable increase of 154 % 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 $29,488.25 to $45,481.5 during September, and October.
Based upon to the price in Fort Lee (cities), this has fallen considerably in the last 6 months. The average price for May is $621,188. During June the price had a considerable reduction till $441,413. During the following two months (July, August) the average price had a considerable reduction of 73 % 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 85 %, going from $460,808.5 to $393,665 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 $420,770 they are 39 % more affordable than the average price for Fort Lee. The properties with the highest average price have 4 bedrooms, Their price is 161 % more costly than the average. After that we have properties with 3 bedrooms priced at $456,988.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $6,098 / sq.feet, with an average $12,926 / sq.feet price in Fort Lee. The properties with the highest average prices have 1 bedroom. They are 851 % more expensive than the average followed by properties with 2 bedrooms with a price at $11,932 / sq.feet.
The graph displaying the average prices displays the property type "Duplex" as the most costly one. At an cost of $420,770 it is 41 % more expensive than the average price in Fort Lee. "Condo" is seen as the second dearest property type. The dearest property type is "Apartment" followed by "Condo". At a price of $1,093,018 it is 161 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $527 / sq.feet followed by "Condo" priced at $6,063 / sq.feet. "Apartment" is the cheapest type of property with a $6,098 / sq.feet value followed by "Condo" with an average price of $6,063 / sq.feet.