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 November, the average price per sq.feet was $159. In the following month the price per sq.feet decreased to $142. In the following two months the price per sq.feet has increased 113 %, going from $150.5 to $170 per sq.feet. The price per sq.feet has had a considerable increase of 322 % 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 $160.25 to $515.5 during March, and April.
Based upon to the price in Passaic (cities), this has fallen considerably in the last 6 months. The average price for November is $339,044. During December the price had a slight fall till $298,217. In the following two months the average price has remained the same with regard to the previous two months from $318,630.5 to $320,439.5. During the last two months the average price has had a strong fall compared to the previous four going from $319,535 to $148,683.5, which means a 47 % fall.