The prices in real estate in Short Hills, 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 Short Hills has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $778,791. In August this price pretty much remained the same at a value of $778,792 per sq.feet. The price for the following two months in (September, October) had a considerable decrease of 0 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 0 % 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 $389,637 to $430 during November, and December.
Based upon to the price in Short Hills (cities), these have remained the same in the last 6 months. The average price for July is $2,339,286. During August the price had a slight fall till $2,206,857. In the following two months the average price has remained the same with regard to the previous two months from $2,273,071.5 to $2,354,686.5. 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 3 bedrooms are the cheapest ones. At a price of $2,487,132 they are 37 % more affordable than the average price for Short Hills. The properties with the lowest average price have 1 bedroom, Their price is 21 % cheaper than the average. After that we have properties with 3 bedrooms priced at $1,562,400.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the most costly ones at a cost of $29,967 / sq.feet, with an average $427 / sq.feet price in Short Hills. The properties with the highest average prices have 1 bedroom. They are 8104 % more expensive than the average followed by properties with 3 bedrooms with a price at $29,967 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $2,487,132 it is 37 % cheaper than the average price in Short Hills. "Apartment" is seen as the second most affordable property type. The cheapest type property is "Duplex" followed by "Apartment". At a price of $1,950,556 it is 4 % more affordable than the average price.
According to the average cost per sq.feet, the most expensive property type would be "House" at an average cost of $29,967 / sq.feet followed by "Apartment" priced at $34,994 / sq.feet. "Duplex" is the most costly type of property with a $40,123 / sq.feet cost followed by "Apartment" with an average price of $34,994 / sq.feet.