The prices in real estate in Gloucester City, 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 Gloucester City has increased strongly during the last 6 months. In April, the average price per sq.feet was $75. In May this price pretty much remained the same at a value of $75 per sq.feet. The price for the following two months in (June, July) had a considerable increment of 22756 %. The price per sq.feet has had a considerable increase of 223 % 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 $8,571 to $19,101 during August, and September.
Based upon to the price in Gloucester City (cities), this has fallen considerably in the last 6 months. The average price for April is $135,480. During May the price had a considerable reduction till $110,633. During the following two months (June, July) the average price had a considerable reduction of 78 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 111 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $130,238 they are 28 % more affordable than the average price for Gloucester City. The properties with the lowest average price have 1 bedroom, Their price is 28 % cheaper than the average. After that we have properties with 2 bedrooms priced at $93,152.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $14,147 / sq.feet, with an average $14,800 / sq.feet price in Gloucester City. The properties with the lowest average prices have 1 bedroom. They are 4 % cheaper than the average followed by properties with 2 bedrooms with a price at $14,147 / sq.feet.
The graph displaying the average prices displays the property type "Commercial Property" as the most affordable one. At an cost of $130,238 it is 59 % cheaper than the average price in Gloucester City. "House" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Commercial Property". At a price of $53,387 it is 28 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial Property" at an average cost of $16 / sq.feet followed by "House" priced at $14,147 / sq.feet. "House" is the cheapest type of property with a $14,147 / sq.feet value followed by "Commercial Property" with an average price of $16 / sq.feet.