The prices in real estate in Short Hills, 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 Short Hills has increased strongly during the last 6 months. In July, the average price per sq.feet was $36,272. In the following month the price per sq.feet increased considerably to $41,875. The price for the following two months in (September, October) had a considerable decrease of 73 with regard to the prior two months. The price per sq.feet has had a considerable increase of 1431 % 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 $33,709 to $482,487.5 during November, and December.
Based upon to the price in Short Hills (cities), this has gone up considerably in the last 6 months. The average price for July is $1,956,125. During August the price had a slight fall till $1,815,472. During the following two months (September, October) the average price fell 90 % 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 191 % 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 $4,295,250 they are 63 % more affordable than the average price for Short Hills. The properties with the lowest average price have 1 bedroom, Their price is 54 % cheaper than the average. After that we have properties with 3 bedrooms priced at $1,576,536.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $30,245 / sq.feet, with an average $957,444 / sq.feet price in Short Hills. The properties with the lowest average prices have 1 bedroom. They are 96 % cheaper than the average followed by properties with 3 bedrooms with a price at $30,245 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $4,295,250 it is 63 % 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 $1,968,205 it is 44 % 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 $30,245 / sq.feet followed by "Apartment" priced at $35,318 / sq.feet. "Duplex" is the cheapest type of property with a $40,492 / sq.feet value followed by "Apartment" with an average price of $35,318 / sq.feet.