The prices in real estate in Long Branch, 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 Long Branch has had a strong decrease during the last 6 months. In October, the average price per sq.feet was $2,506. In the following month the price per sq.feet decreased considerably to $467. The price for the following two months in (December, January) had a considerable decrease of 58 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 38 % 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 $1,175.75 to $449 during February, and March.
Based upon to the price in Long Branch (cities), this has gone downing the last 6 months. The average price for October is $944,174. During November the price had a considerable reduction till $778,903. In the following two months the average price has remained the same with regard to the previous two months from $861,538.5 to $843,653. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $852,595.75 and $867,183 between February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $787,007 they are 61 % more affordable than the average price for Long Branch. The properties with the highest average price have 4 bedrooms, Their price is 2 % more costly than the average. After that we have properties with 2 bedrooms priced at $716,420.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $331 / sq.feet, with an average $408 / sq.feet price in Long Branch. The properties with the highest average prices have 2 bedrooms. They are 23 % more expensive than the average followed by properties with 1 bedroom with a price at $400 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $787,007 it is 8 % cheaper than the average price in Long Branch. "Land" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $743,667 it is 27 % 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 $511 / sq.feet followed by "Land" priced at $3,201 / sq.feet. "Condo" is the most costly type of property with a $201,215 / sq.feet cost followed by "Townhouse" with an average price of $169,096 / sq.feet.