Property prices for sale in Passaic (New Jersey)
The prices in real estate in Passaic, in the New Jersey region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Passaic has increased strongly during the last 6 months. In February, the average price per sq.feet was $4,492. In the following month the price per sq.feet increased considerably to $28,781. The price for the following two months in (April, May) had a considerable decrease of 60 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 2 % 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 $13,323 to $242.5 during June, and July.
Based upon to the price in Passaic (cities), these have remained the same in the last 6 months. In our first sample month during February, the average price is $466,099. In March This price remains at $466,987. During the following two months (April, May) the price has had an average incrementation from $466,543 to $530,604.5. During the last two months the average price has had a strong fall compared to the previous four going from $498,573.75 to $382,859, which means a 77 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $389,630 they are 58 % more affordable than the average price for Passaic. The properties with the highest average price have 3 bedrooms, Their price is 31 % more costly than the average. After that we have properties with 4 bedrooms priced at $472,573.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $179 / sq.feet, with an average $252 / sq.feet price in Passaic. The properties with the highest average prices have 3 bedrooms. They are 27 % more expensive than the average followed by properties with 1 bedroom with a price at $270 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $389,630 it is 53 % cheaper than the average price in Passaic. "Condo" is seen as the second most affordable property type. The cheapest type property is "Office" followed by "House". At a price of $324,978 it is 14 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $63 / sq.feet followed by "House" priced at $114 / sq.feet. "Office" is the most costly type of property with a $67,864 / sq.feet cost followed by "Condo" with an average price of $132 / sq.feet.
