The prices in real estate in New Brunswick, 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 New Brunswick has had a strong decrease during the last 6 months. In June, the average price per sq.feet was $57,026. In the following month the price per sq.feet decreased considerably to $22,869. The price for the following two months in (August, September) had a considerable decrease of 47 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 7 % 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 $29,416.25 to $1,959.5 during October, and November.
Based upon to the price in New Brunswick (cities), these have remained the same in the last 6 months. In our first sample month during June, the average price is $392,050. In July This price remains at $378,210. During the following two months (August, September) the average price fell 91 % 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 gone up 110 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 4 bedrooms are the cheapest ones. At a price of $407,413 they are 5 % more affordable than the average price for New Brunswick. The properties with the highest average price have 1 bedroom, Their price is 4 % more costly than the average. After that we have properties with 3 bedrooms priced at $423,172.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the most costly ones at a cost of $2,301 / sq.feet, with an average $1,977 / sq.feet price in New Brunswick. The properties with the highest average prices have 4 bedrooms. They are 38 % more expensive than the average followed by properties with 1 bedroom with a price at $2,319 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $407,413 it is 5 % cheaper than the average price in New Brunswick. "Apartment" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "Land". At a price of $385,334 it is 5 % more affordable than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Land" at an average cost of $2,705 / sq.feet followed by "Apartment" priced at $2,720 / sq.feet. "Apartment" is the most costly type of property with a $2,720 / sq.feet cost followed by "Land" with an average price of $2,705 / sq.feet.