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 February, the average price per sq.feet was $265. In the following month the price per sq.feet increased considerably to $6,327. The price for the following two months in (April, May) had a considerable decrease of 8 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 15 % 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 $1,781.25 to $261.5 during June, and July.
Based upon to the price in South River (cities), this has gone up in the last 6 months. In our first sample month during February, the average price is $421,064. In March This price remains at $426,330. During the following two months (April, May) the price has had an average incrementation from $423,697 to $466,452. Based on an analysis of the first four prices and the last two months the average price has gone up 105 % 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 $454,511 they are 45 % more affordable than the average price for South River. The properties with the lowest average price have 1 bedroom, Their price is 44 % cheaper than the average. After that we have properties with 2 bedrooms priced at $250,652.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $101 / sq.feet, with an average $272 / sq.feet price in South River. The properties with the lowest average prices have 1 bedroom. They are 59 % cheaper than the average followed by properties with 2 bedrooms with a price at $101 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $454,511 it is 45 % 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 $335,834 it is 24 % 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 $100 / sq.feet followed by "Apartment" priced at $101 / sq.feet. "Condo" is the most costly type of property with a $10,081 / sq.feet cost followed by "Detached House" with an average price of $3,996 / sq.feet.