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 March, the average price per sq.feet was $5,764. In the following month the price per sq.feet decreased considerably to . The price for the following two months in (May, June) had a considerable increment of 10673 %. The price per sq.feet has had a considerable increase of 502 % 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 $155,233.5 to $778,791.5 during July, and August.
Based upon to the price in Short Hills (cities), this has fallen considerably in the last 6 months. The average price for March is $3,166,600. During April the price had a considerable reduction till . During the following two months (May, June) the average price had a considerable increase of 166 % 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 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 $2,206,857 they are 29 % more affordable than the average price for Short Hills. The properties with the lowest average price have 1 bedroom, Their price is 11 % cheaper than the average. After that we have properties with 3 bedrooms priced at $1,568,667.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $30,090 / sq.feet, with an average $778,792 / sq.feet price in Short Hills. The properties with the lowest average prices have 1 bedroom. They are 95 % cheaper than the average followed by properties with 3 bedrooms with a price at $30,090 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $2,206,857 it is 29 % cheaper than the average price in Short Hills. "Apartment" is seen as the second most affordable property type. The dearest property type is "Duplex" followed by "Apartment". At a price of $1,958,380 it is 8 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $30,090 / sq.feet followed by "Apartment" priced at $35,138 / sq.feet. "Duplex" is the cheapest type of property with a $40,287 / sq.feet value followed by "Apartment" with an average price of $35,138 / sq.feet.