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 October, the average price per sq.feet was $2,380. In the following month the price per sq.feet decreased considerably to $366. The price for the following two months in (December, January) had a considerable decrease of 22 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 36 % 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 $840 to $299.5 during February, and March.
Based upon to the price in South Orange (cities), this has gone downing the last 6 months. In our first sample month during October, the average price is $801,411. In November This price remains at $814,282. In the following two months the average price has remained the same with regard to the previous two months from $807,846.5 to $794,911. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 87 %, going from $801,378.75 to $694,448 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the most costly ones. At a price of $602,329 they are 7 % more expensive than the average price for South Orange. Following this ranking we find those properties with 1 at an average price of $672,497. The properties with the highest average price have 1 bedroom, Their price is 12 % more costly than the average. After that we have properties with 2 bedrooms priced at $647,341.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the most costly ones at a cost of $24,493 / sq.feet, with an average $278 / sq.feet price in South Orange. The properties with the highest average prices have 1 bedroom. They are 10136 % more expensive than the average followed by properties with 2 bedrooms with a price at $24,493 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most costly one. At an cost of $602,329 it is 7 % more expensive than the average price in South Orange. "Duplex" is seen as the second dearest property type. The dearest property type is "Duplex" followed by "House". At a price of $647,341 it is 11 % 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 $21,801 / sq.feet followed by "House" priced at $24,493 / sq.feet. "House" is the most costly type of property with a $24,493 / sq.feet cost followed by "Duplex" with an average price of $21,801 / sq.feet.