The prices in real estate in Paramus, 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 Paramus has had a strong decrease during the last 6 months. In February, the average price per sq.feet was $29,000. In March this price pretty much remained the same at a value of $29,000 per sq.feet. The price for the following two months in (April, May) had a considerable decrease of 50 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 85 % 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 $21,742.75 to $18,436.5 during June, and July.
Based upon to the price in Paramus (cities), this has fallen considerably in the last 6 months. In our first sample month during February, the average price is $795,906. In March This price remains at $795,906. During the following two months (April, May) the average price had a considerable reduction of 50 % 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 134 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $804,000 they are 1 % more affordable than the average price for Paramus. The properties with the lowest average price have 1 bedroom, Their price is 1 % cheaper than the average. After that we have properties with 2 bedrooms priced at $792,725.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the most costly ones at a cost of $28,884 / sq.feet, with an average $18,573 / sq.feet price in Paramus. The properties with the highest average prices have 1 bedroom. They are 56 % more expensive than the average followed by properties with 2 bedrooms with a price at $28,884 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $804,000 it is 14 % cheaper than the average price in Paramus. "House" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Condo". At a price of $690,745 it is 1 % more affordable than the average price.
According to the average cost per sq.feet, the most expensive property type would be "House" at an average cost of $28,884 / sq.feet followed by "Condo" priced at $30,276 / sq.feet. "Condo" is the most costly type of property with a $30,276 / sq.feet cost followed by "House" with an average price of $28,884 / sq.feet.