The prices in real estate in Pennsville, 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 Pennsville has had a strong decrease during the last 6 months. In September, the average price per sq.feet was $59,557. In the following month the price per sq.feet decreased considerably to $3,867. The price for the following two months in (November, December) had a considerable decrease of 10 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 1 % 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 $17,371 to $110 during January, and February.
Based upon to the price in Pennsville (cities), this has gone downing the last 6 months. The average price for September is $193,576. During October the price had a considerable reduction till $162,698. In the following two months the average price has remained the same with regard to the previous two months from $178,137 to $170,591.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 95 %, going from $174,364.25 to $165,005.5 in January and February.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of $162,452 they are 7 % more affordable than the average price for Pennsville. The properties with the highest average price have 1 bedroom, Their price is 21 % more costly than the average. After that we have properties with 2 bedrooms priced at $195,860.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $67 / sq.feet, with an average $108 / sq.feet price in Pennsville. The properties with the highest average prices have 3 bedrooms. They are 7 % more expensive than the average followed by properties with 4 bedrooms with a price at $98 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $162,452 it is 65 % cheaper than the average price in Pennsville. "Commercial" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of $226,532 it is 56 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $61 / sq.feet followed by "Townhouse" priced at $69 / sq.feet. "House" is the most costly type of property with a $164,519 / sq.feet cost followed by "Land" with an average price of $56,112 / sq.feet.