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 January, the average price per sq.feet was $424. In February this price pretty much remained the same at a value of $416 per sq.feet. The price for the following two months in (March, April) had a considerable increment of 19033 %. The price per sq.feet has had a considerable deflation of 1 % 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 $40,180.25 to $516.5 during May, and June.
Based upon to the price in Short Hills (cities), this has gone up considerably in the last 6 months. In our first sample month during January, the average price is $2,453,486. In February This price remains at $2,378,656. During the following two months (March, April) the average price had a considerable increase of 123 % 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 118 % 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 $3,319,059 they are 53 % more affordable than the average price for Short Hills. The properties with the lowest average price have 1 bedroom, Their price is 42 % cheaper than the average. After that we have properties with 3 bedrooms priced at $1,553,046.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the most costly ones at a cost of $29,787 / sq.feet, with an average $544 / sq.feet price in Short Hills. The properties with the highest average prices have 1 bedroom. They are 6301 % more expensive than the average followed by properties with 3 bedrooms with a price at $29,787 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $3,319,059 it is 53 % 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 $1,938,880 it is 29 % 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 $29,787 / sq.feet followed by "Apartment" priced at $34,784 / sq.feet. "Duplex" is the most costly type of property with a $39,880 / sq.feet cost followed by "Apartment" with an average price of $34,784 / sq.feet.