The prices in real estate in Morris Plains, in the New Jersey region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Morris Plains has increased during the last 6 months. In December, the average price per sq.feet was $236. In January this price pretty much remained the same at a value of $240 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $238 to $249 per sq.feet. The price per sq.feet has increased 112 % 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 $243.5 to $272.5 during April, and May.
Based upon to the price in Morris Plains (cities), this has gone up considerably in the last 6 months. The price in December is $461,100, rising in January till $486,016. During the following two months (February, March) the average price had a considerable increase of 125 % 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 123 % 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 $657,852 they are 71 % more affordable than the average price for Morris Plains. The properties with the lowest average price have 4 bedrooms, Their price is 6 % cheaper than the average. After that we have properties with 3 bedrooms priced at $518,081.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $218 / sq.feet, with an average $282 / sq.feet price in Morris Plains. The properties with the highest average prices have 2 bedrooms. They are 5 % more expensive than the average followed by properties with 3 bedrooms with a price at $284 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $657,852 it is 59 % cheaper than the average price in Morris Plains. "Condo" is seen as the second most affordable property type. The cheapest type property is "Commercial" followed by "Duplex". At a price of $521,751 it is 20 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $254 / sq.feet followed by "Duplex" priced at $10,835 / sq.feet. "House" is the most costly type of property with a $154,738 / sq.feet cost followed by "Condo" with an average price of $12,559 / sq.feet.