The prices in real estate in Monroe Township, 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 Monroe Township has increased strongly during the last 6 months. In March, the average price per sq.feet was $1,187. In the following month the price per sq.feet decreased considerably to $810. The price for the following two months in (May, June) had a considerable increment of 850 %. The price per sq.feet has had a considerable increase of 474 % 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 $4,745 to $22,481 during July, and August.
Based upon to the price in Monroe Township (cities), these have remained the same in the last 6 months. The average price for March is $504,370. During April the price had a slight fall till $460,741. During the following two months (May, June) the average price fell 92 % 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 risen strongly 118 % 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 $550,650 they are 82 % more affordable than the average price for Monroe Township. The properties with the highest average price have 4 bedrooms, Their price is 18 % more costly than the average. After that we have properties with 3 bedrooms priced at $464,621.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $464 / sq.feet, with an average $35,480 / sq.feet price in Monroe Township. The properties with the highest average prices have 4 bedrooms. They are 152 % more expensive than the average followed by properties with 1 bedroom with a price at $40,118 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $550,650 it is 54 % cheaper than the average price in Monroe Township. "Land" is seen as the second most affordable property type. The dearest property type is "House" followed by "Commercial". At a price of $497,356 it is 9 % 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 $192 / sq.feet followed by "Commercial" priced at $197 / sq.feet. "House" is the most costly type of property with a $36,775 / sq.feet cost followed by "Condo" with an average price of $14,500 / sq.feet.