The prices in real estate in Somers Point, in the New Jersey region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Somers Point has increased during the last 6 months. In July, the average price per sq.feet was $170. In the following month the price per sq.feet increased considerably to $197. In the following two months the price per sq.feet has barely changed, going from $183.5 to $177.5 per sq.feet. The price per sq.feet has increased 112 % 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 $180.5 to $202.5 during November, and December.
Based upon to the price in Somers Point (cities), this has fallen considerably in the last 6 months. The average price for July is $974,800. During August the price had a considerable reduction till $393,675. During the following two months (September, October) the average price had a considerable reduction of 47 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $502,512 to $353,237, which means a 70 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $373,667 they are 39 % more affordable than the average price for Somers Point. The properties with the lowest average price have 1 bedroom, Their price is 38 % cheaper than the average. After that we have properties with 2 bedrooms priced at $229,325.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $105 / sq.feet, with an average $211 / sq.feet price in Somers Point. The properties with the lowest average prices have 1 bedroom. They are 48 % cheaper than the average followed by properties with 2 bedrooms with a price at $105 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $373,667 it is 39 % cheaper than the average price in Somers Point. "Detached House" is seen as the second most affordable property type. The cheapest type property is "Detached House" followed by "Apartment". At a price of $229,325 it is 9 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $105 / sq.feet followed by "Detached House" priced at $111 / sq.feet. "Detached House" is the cheapest type of property with a $111 / sq.feet value followed by "Apartment" with an average price of $105 / sq.feet.