The prices in real estate in South Orange, 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 South Orange has had a strong decrease during the last 6 months. In August, the average price per sq.feet was $25,979. In the following month the price per sq.feet decreased to $22,359. The price for the following two months in (October, November) had a considerable decrease of 77 with regard to the prior two months. The price per sq.feet has increased 110 % 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 $21,336.5 to $23,495 during December, and January.
Based upon to the price in South Orange (cities), this has gone up in the last 6 months. In our first sample month during August, the average price is $661,000. In September This price remains at $680,111. In the following two months the average price has remained the same with regard to the previous two months from $670,555.5 to $672,714.5. Based on an analysis of the first four prices and the last two months the average price has gone up 111 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $676,667 they are 3 % more affordable than the average price for South Orange. The properties with the lowest average price have 1 bedroom, Their price is 1 % cheaper than the average. After that we have properties with 2 bedrooms priced at $656,478.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the most costly ones at a cost of $24,843 / sq.feet, with an average $14,600 / sq.feet price in South Orange. The properties with the highest average prices have 1 bedroom. They are 95 % more expensive than the average followed by properties with 2 bedrooms with a price at $24,843 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $676,667 it is 3 % cheaper than the average price in South Orange. "Duplex" is seen as the second most affordable property type. The dearest property type is "Duplex" followed by "House". At a price of $656,478 it is 0 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Duplex" at an average cost of $22,114 / sq.feet followed by "House" priced at $24,843 / sq.feet. "House" is the most costly type of property with a $24,843 / sq.feet cost followed by "Duplex" with an average price of $22,114 / sq.feet.