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 January, the average price per sq.feet was $291. In February this price pretty much remained the same at a value of $296 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $293.5 to $304 per sq.feet. The price per sq.feet has increased 107 % 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 $298.75 to $320.5 during May, and June.
Based upon to the price in Morris Plains (cities), these have remained the same in the last 6 months. In our first sample month during January, the average price is $700,048. In February This price remains at $678,716. In the following two months the average price has remained the same with regard to the previous two months from $689,382 to $716,429.5. 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 $702,905.75 and $719,779 between May and June.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $718,519 they are 61 % more affordable than the average price for Morris Plains. The properties with the highest average price have 3 bedrooms, Their price is 7 % more costly than the average. After that we have properties with 4 bedrooms priced at $624,467.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $265 / sq.feet, with an average $332 / sq.feet price in Morris Plains. The properties with the highest average prices have 2 bedrooms. They are 14 % more expensive than the average followed by properties with 3 bedrooms with a price at $329 / sq.feet.
The graph displaying the average prices displays the property type "Duplex" as the most affordable one. At an cost of $718,519 it is 28 % cheaper than the average price in Morris Plains. "Commercial" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $696,143 it is 4 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $320 / sq.feet followed by "House" priced at $334 / sq.feet. "Commercial" is the most costly type of property with a $10,758 / sq.feet cost followed by "Duplex" with an average price of $10,692 / sq.feet.