The prices in real estate in Scotch Plains, 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 Scotch Plains has increased strongly during the last 6 months. In January, the average price per sq.feet was $22,431. In February this price pretty much remained the same at a value of $21,413 per sq.feet. The price for the following two months in (March, April) had a considerable decrease of 63 with regard to the prior two months. The price per sq.feet has had a considerable increase of 870 % 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 $17,867.75 to $155,499 during May, and June.
Based upon to the price in Scotch Plains (cities), these have remained the same in the last 6 months. The average price for January is $641,725. During February the price had a slight fall till $567,756. In the following two months the average price has remained the same with regard to the previous two months from $604,740.5 to $617,350. Based on an analysis of the first four prices and the last two months the average price has gone up 108 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $730,859 they are 15 % more affordable than the average price for Scotch Plains. The properties with the highest average price have 1 bedroom, Their price is 11 % more costly than the average. After that we have properties with 2 bedrooms priced at $620,155.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $2,182 / sq.feet, with an average $301,029 / sq.feet price in Scotch Plains. The properties with the lowest average prices have 2 bedrooms. They are 96 % cheaper than the average followed by properties with 1 bedroom with a price at $2,182 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $730,859 it is 29 % cheaper than the average price in Scotch Plains. "Office" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Office". At a price of $524,198 it is 15 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $10,657 / sq.feet followed by "Land" priced at $19,615 / sq.feet. "Office" is the cheapest type of property with a $19,755 / sq.feet value followed by "Land" with an average price of $19,615 / sq.feet.