The prices in real estate in Longport, 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 Longport has increased strongly during the last 6 months. In October, the average price per sq.feet was $517. In the following month the price per sq.feet increased considerably to $602. In the following two months the price per sq.feet has increased 108 %, going from $559.5 to $603 per sq.feet. The price per sq.feet has increased 106 % 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 $581.25 to $617.5 during February, and March.
Based upon to the price in Longport (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is $1,378,188. During November the price went through a considerable rise reaching $1,699,676. In the following two months the average price has remained the same with regard to the previous two months from $1,538,932 to $1,598,973. 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 $1,568,952.5 and $1,615,916 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 $1,666,162 they are 78 % more affordable than the average price for Longport. The properties with the highest average price have 3 bedrooms, Their price is 17 % more costly than the average. After that we have properties with 4 bedrooms priced at $1,507,463.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $393 / sq.feet, with an average $617 / sq.feet price in Longport. The properties with the highest average prices have 3 bedrooms. They are 31 % more expensive than the average followed by properties with 4 bedrooms with a price at $520 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $1,666,162 it is 63 % cheaper than the average price in Longport. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Commercial". At a price of $1,956,426 it is 50 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $373 / sq.feet followed by "Condo" priced at $427 / sq.feet. "House" is the most costly type of property with a $904 / sq.feet cost followed by "Commercial" with an average price of $512 / sq.feet.