The prices in real estate in South River, 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 River has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $41,028. In August this price pretty much remained the same at a value of $41,051 per sq.feet. The price for the following two months in (September, October) had a considerable decrease of 38 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 8 % 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 $28,253.5 to $2,139.5 during November, and December.
Based upon to the price in South River (cities), this has fallen considerably in the last 6 months. In our first sample month during July, the average price is $573,600. In August This price remains at $556,725. During the following two months (September, October) the average price had a considerable reduction of 72 % 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 $485,097.25 to $346,649, which means a 71 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $345,172 they are 26 % more affordable than the average price for South River. The properties with the lowest average price have 1 bedroom, Their price is 26 % cheaper than the average. After that we have properties with 2 bedrooms priced at $255,471.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $120 / sq.feet, with an average $2,023 / sq.feet price in South River. The properties with the lowest average prices have 1 bedroom. They are 94 % cheaper than the average followed by properties with 2 bedrooms with a price at $120 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $345,172 it is 26 % cheaper than the average price in South River. "Apartment" is seen as the second most affordable property type. The dearest property type is "Condo" followed by "Detached House". At a price of $342,288 it is 1 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $119 / sq.feet followed by "Apartment" priced at $120 / sq.feet. "Condo" is the most costly type of property with a $10,290 / sq.feet cost followed by "Detached House" with an average price of $4,091 / sq.feet.