The prices in real estate in Sparta, 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 Sparta has had a strong decrease during the last 6 months. In June, the average price per sq.feet was $143,321. In the following month the price per sq.feet decreased considerably to $98,823. The price for the following two months in (August, September) had a considerable increment of 117 %. The price per sq.feet has had a considerable deflation of 22 % 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 $131,242.75 to $28,338 during October, and November.
Based upon to the price in Sparta (cities), this has gone up in the last 6 months. In our first sample month during June, the average price is $514,268. In July This price remains at $518,087. During the following two months (August, September) the price has had an average incrementation from $516,177.5 to $549,551.5. 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 $602,382 they are 55 % more affordable than the average price for Sparta. The properties with the highest average price have 4 bedrooms, Their price is 4 % more costly than the average. After that we have properties with 1 bedroom priced at $398,404.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $185 / sq.feet, with an average $11,334 / sq.feet price in Sparta. The properties with the highest average prices have 2 bedrooms. They are 20 % more expensive than the average followed by properties with 3 bedrooms with a price at $8,154 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $602,382 it is 29 % cheaper than the average price in Sparta. "Office" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Office". At a price of $481,860 it is 20 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $4,727 / sq.feet followed by "Commercial" priced at $7,473 / sq.feet. "Office" is the cheapest type of property with a $8,945 / sq.feet value followed by "Commercial" with an average price of $7,473 / sq.feet.