The prices in real estate in Princeton, 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 Princeton has increased strongly during the last 6 months. In March, the average price per sq.feet was $333. In the following month the price per sq.feet increased considerably to $2,076. The price for the following two months in (May, June) had a considerable increment of 756 %. The price per sq.feet has had a considerable increase of 1023 % 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 $5,152.25 to $52,685 during July, and August.
Based upon to the price in Princeton (cities), this has gone downing the last 6 months. The average price for March is $999,311. During April the price had a considerable reduction till $811,984. In the following two months the average price has remained the same with regard to the previous two months from $905,647.5 to $924,347.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $914,997.5 and $941,875 between July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $976,511 they are 63 % more affordable than the average price for Princeton. The properties with the lowest average price have 1 bedroom, Their price is 9 % cheaper than the average. After that we have properties with 4 bedrooms priced at $879,383.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $279 / sq.feet, with an average $63,064 / sq.feet price in Princeton. The properties with the lowest average prices have 2 bedrooms. They are 76 % cheaper than the average followed by properties with 3 bedrooms with a price at $5,551 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $976,511 it is 72 % cheaper than the average price in Princeton. "Townhouse" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Condo". At a price of $770,641 it is 10 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $218 / sq.feet followed by "House" priced at $290 / sq.feet. "Condo" is the cheapest type of property with a $5,221 / sq.feet value followed by "Land" with an average price of $5,161 / sq.feet.