The prices in real estate in Irvington, 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 Irvington has had a strong decrease during the last 6 months. In November, the average price per sq.feet was $25,509. In the following month the price per sq.feet decreased to $24,019. The price for the following two months in (January, February) had a considerable decrease of 78 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 48 % 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 $21,981.25 to $10,576.5 during March, and April.
Based upon to the price in Irvington (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is $298,119. During December the price went through a considerable rise reaching $369,773. In the following two months the average price has remained the same with regard to the previous two months from $333,946 to $318,444. Based on an analysis of the first four prices and the last two months the average price has gone up 112 % 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 $356,128 they are 80 % more affordable than the average price for Irvington. The properties with the lowest average price have 3 bedrooms, Their price is 76 % cheaper than the average. After that we have properties with 4 bedrooms priced at $84,673.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $805 / sq.feet, with an average $6,099 / sq.feet price in Irvington. The properties with the lowest average prices have 3 bedrooms. They are 86 % cheaper than the average followed by properties with 4 bedrooms with a price at $855 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $356,128 it is 81 % cheaper than the average price in Irvington. "Land" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "House". At a price of $84,248 it is 76 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $774 / sq.feet followed by "Land" priced at $845 / sq.feet. "Apartment" is the cheapest type of property with a $855 / sq.feet value followed by "House" with an average price of $850 / sq.feet.