The prices in real estate in Montclair, 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 Montclair has increased strongly during the last 6 months. In February, the average price per sq.feet was $280. In the following month the price per sq.feet decreased to $258. The price for the following two months in (April, May) had a considerable increment of 834 %. The price per sq.feet has had a considerable increase of 52715 % 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 $1,256.5 to $662,361.5 during June, and July.
Based upon to the price in Montclair (cities), this has gone up considerably in the last 6 months. The average price for February is $535,006. During March the price had a considerable reduction till $395,025. In the following two months the average price has remained the same with regard to the previous two months from $465,015.5 to $454,644.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 218 % 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 $988,761 they are 69 % more affordable than the average price for Montclair. The properties with the lowest average price have 3 bedrooms, Their price is 32 % cheaper than the average. After that we have properties with 2 bedrooms priced at $366,667.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $10,484 / sq.feet, with an average $548,841 / sq.feet price in Montclair. The properties with the lowest average prices have 1 bedroom. They are 51 % cheaper than the average followed by properties with 2 bedrooms with a price at $19,471 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $988,761 it is 67 % cheaper than the average price in Montclair. "Office" is seen as the second most affordable property type. The cheapest type property is "Townhouse" followed by "Office". At a price of $499,958 it is 33 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of $221 / sq.feet followed by "Townhouse" priced at $10,363 / sq.feet. "House" is the cheapest type of property with a $11,795 / sq.feet value followed by "Townhouse" with an average price of $10,363 / sq.feet.