The prices in real estate in Millburn, 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 Millburn has had a strong decrease during the last 6 months. In June, the average price per sq.feet was $34,180. In July this price pretty much remained the same at a value of $32,713 per sq.feet. The price for the following two months in (August, September) had a considerable decrease of 29 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 66 % 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 $21,597.5 to $14,279 during October, and November.
Based upon to the price in Millburn (cities), these have remained the same in the last 6 months. In our first sample month during June, the average price is $1,803,400. In July This price remains at $1,821,889. During the following two months (August, September) the average price had a considerable reduction of 84 % 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 115 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the most costly ones. At a price of $1,871,121 they are 6 % more expensive than the average price for Millburn. Following this ranking we find those properties with 1 at an average price of $1,989,394. The properties with the highest average price have 1 bedroom, Their price is 6 % more costly than the average. After that we have properties with 2 bedrooms priced at $1,977,484.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $14,704 / sq.feet, with an average $28,179 / sq.feet price in Millburn. The properties with the lowest average prices have 1 bedroom. They are 47 % cheaper than the average followed by properties with 2 bedrooms with a price at $14,704 / sq.feet.
With regard to the average price based upon the property in Millburn we can see that most expensive property type is "Apartment" at a price of $1,977,484, they are 6 % more costly than the average price of (!PRECIO2!). "Apartment" has the highest price. This price is 6 % more expensive than the average price aforementioned.
According to the average area cost by sq.feet the cheapest property type is "Apartment with an average price of $14,704 / sq.feet. "Apartment" with an average cost of $14,704 / sq.feet has the lowest price and would be directed at less affluent cities.