The prices in real estate in Red Bank, 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 Red Bank has had a strong decrease during the last 6 months. In March, the average price per sq.feet was $5,826. In the following month the price per sq.feet decreased considerably to $236. The price for the following two months in (May, June) had a considerable decrease of 4 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 17 % 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 $1,574.5 to $268 during July, and August.
Based upon to the price in Red Bank (cities), these have remained the same in the last 6 months. The price in March is $594,784, rising in April till $648,930. During the following two months (May, June) the average price had a considerable reduction of 52 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 190 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of $901,326 they are 0 % more affordable than the average price for Red Bank. The properties with the lowest average price have 1 bedroom, Their price is 0 % cheaper than the average. After that we have properties with 3 bedrooms priced at $896,826.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $263 / sq.feet, with an average $268 / sq.feet price in Red Bank. The properties with the lowest average prices have 1 bedroom. They are 1 % cheaper than the average followed by properties with 3 bedrooms with a price at $263 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $901,326 it is 65 % cheaper than the average price in Red Bank. "Apartment" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "Townhouse". At a price of $316,851 it is 0 % 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 $196 / sq.feet followed by "Apartment" priced at $263 / sq.feet. "Apartment" is the cheapest type of property with a $263 / sq.feet value followed by "Townhouse" with an average price of $196 / sq.feet.