The prices in real estate in Pennington, in the New Jersey region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.feet in Pennington has fallen in the last 6 months. In April, the average price per sq.feet was $299. In May this price pretty much remained the same at a value of $296 per sq.feet. The price for the following two months in (June, July) decreased 94 % with regard to the prior two months. The price per sq.feet has decreased 91 % 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 $288.75 to $262 during August, and September.
Based upon to the price in Pennington (cities), these have remained the same in the last 6 months. The price in April is $616,769, rising in May till $692,036. In the following two months the average price has remained the same with regard to the previous two months from $654,402.5 to $648,367.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 93 %, going from $651,385 to $603,484 in August and September.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $624,943 they are 82 % more affordable than the average price for Pennington. The properties with the lowest average price have 4 bedrooms, Their price is 9 % cheaper than the average. After that we have properties with 3 bedrooms priced at $407,500.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $162 / sq.feet, with an average $262 / sq.feet price in Pennington. The properties with the highest average prices have 4 bedrooms. They are 2847 % more expensive than the average followed by properties with 2 bedrooms with a price at $245 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $624,943 it is 74 % cheaper than the average price in Pennington. "Condo" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Townhouse". At a price of $391,075 it is 16 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $167 / sq.feet followed by "Townhouse" priced at $203 / sq.feet. "Land" is the most costly type of property with a $95,136 / sq.feet cost followed by "House" with an average price of $2,509 / sq.feet.