The prices in real estate in Old Bridge, 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 Old Bridge has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $1,726. In the following month the price per sq.feet decreased considerably to $295. The price for the following two months in (September, October) had a considerable decrease of 24 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 46 % 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 $627.25 to $288.5 during November, and December.
Based upon to the price in Old Bridge (cities), this has gone up considerably in the last 6 months. In our first sample month during July, the average price is $400,940. In August This price remains at $398,583. During the following two months (September, October) the price has had an average incrementation from $399,761.5 to $431,894.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 127 % 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 $524,338 they are 19 % more affordable than the average price for Old Bridge. The properties with the highest average price have 4 bedrooms, Their price is 1 % more costly than the average. After that we have properties with 1 bedroom priced at $427,331.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $219 / sq.feet, with an average $321 / sq.feet price in Old Bridge. The properties with the highest average prices have 1 bedroom. They are 91 % more expensive than the average followed by properties with 4 bedrooms with a price at $219 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $524,338 it is 47 % cheaper than the average price in Old Bridge. "Land" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Villa". At a price of $390,081 it is 2 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $218 / sq.feet followed by "Land" priced at $909 / sq.feet. "Villa" is the most costly type of property with a $4,037 / sq.feet cost followed by "Condo" with an average price of $1,916 / sq.feet.