The prices in real estate in Morris Plains, 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 Morris Plains has had a strong decrease during the last 6 months. In March, the average price per sq.feet was $14,257. In the following month the price per sq.feet decreased considerably to $11,765. The price for the following two months in (May, June) decreased 87 % with regard to the prior two months. The price per sq.feet has barely changed in the last two months compared to the average price of the previous four months going from an average price of $12,181.75 to $12,655 during July y August
Based upon to the price in Morris Plains (cities), this has gone downing the last 6 months. The average price for March is $576,689. During April the price had a slight fall till $507,540. In the following two months the average price has remained the same with regard to the previous two months from $542,114.5 to $566,750. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 92 %, going from $554,432.25 to $512,666.5 in July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $487,000 they are 1 % more affordable than the average price for Morris Plains. The properties with the highest average price have 3 bedrooms, Their price is 18 % more costly than the average. After that we have properties with 1 bedroom priced at $483,822.
With regard to the average price per sq.feet , those properties with 1 bedroom are the most costly ones at a cost of $12,845 / sq.feet, with an average $12,158 / sq.feet price in Morris Plains. The properties with the highest average prices have 3 bedrooms. They are 11 % more expensive than the average followed by properties with 1 bedroom with a price at $12,845 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $487,000 it is 1 % cheaper than the average price in Morris Plains. "Duplex" is seen as the second most affordable property type. The dearest property type is "House" followed by "Commercial". At a price of $536,051 it is 18 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $11,073 / sq.feet followed by "Commercial" priced at $11,145 / sq.feet. "House" is the most costly type of property with a $13,530 / sq.feet cost followed by "Townhouse" with an average price of $12,832 / sq.feet.