The prices in real estate in Hoboken, 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 Hoboken has had a strong decrease during the last 6 months. In May, the average price per sq.feet was $6,799. In the following month the price per sq.feet decreased to $6,438. The price for the following two months in (July, August) had a considerable decrease of 63 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 15 % 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 $5,393 to $819.5 during September, and October.
Based upon to the price in Hoboken (cities), this has gone up in the last 6 months. In our first sample month during May, the average price is $852,707. In June This price remains at $857,293. In the following two months the average price has remained the same with regard to the previous two months from $855,000 to $878,451.5. Based on an analysis of the first four prices and the last two months the average price has gone up 115 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $882,337 they are 37 % more affordable than the average price for Hoboken. The properties with the highest average price have 4 bedrooms, Their price is 126 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,232,563.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $748 / sq.feet, with an average $780 / sq.feet price in Hoboken. The properties with the highest average prices have 4 bedrooms. They are 15 % more expensive than the average followed by properties with 3 bedrooms with a price at $841 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $882,337 it is 16 % cheaper than the average price in Hoboken. "Office" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "Condo". At a price of $1,103,644 it is 35 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "House" at an average cost of $806 / sq.feet followed by "Condo" priced at $913 / sq.feet. "Land" is the most costly type of property with a $7,214 / sq.feet cost followed by "Office" with an average price of $2,322 / sq.feet.