The prices in real estate in South River, 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 South River has increased strongly during the last 6 months. In December, the average price per sq.feet was $146. In January this price pretty much remained the same at a value of $143 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $144.5 to $143 per sq.feet. The price per sq.feet has had a considerable increase of 201 % 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 $143.75 to $289.5 during April, and May.
Based upon to the price in South River (cities), this has gone up in the last 6 months. In our first sample month during December, the average price is $264,629. In January This price remains at $261,430. In the following two months the average price has remained the same with regard to the previous two months from $263,029.5 to $261,430. Based on an analysis of the first four prices and the last two months the average price has risen strongly 132 % 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 $360,200 they are 28 % more affordable than the average price for South River. The properties with the lowest average price have 1 bedroom, Their price is 28 % cheaper than the average. After that we have properties with 2 bedrooms priced at $260,384.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $139 / sq.feet, with an average $283 / sq.feet price in South River. The properties with the lowest average prices have 1 bedroom. They are 51 % cheaper than the average followed by properties with 2 bedrooms with a price at $139 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $360,200 it is 28 % cheaper than the average price in South River. "Apartment" is seen as the second most affordable property type. The cheapest type property is "Condo" followed by "Detached House". At a price of $348,867 it is 1 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $138 / sq.feet followed by "Apartment" priced at $139 / sq.feet. "Condo" is the most costly type of property with a $10,499 / sq.feet cost followed by "Detached House" with an average price of $4,186 / sq.feet.