The prices in real estate in Spring Lake, 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 Spring Lake has increased strongly during the last 6 months. In April, the average price per sq.feet was $818. In May this price pretty much remained the same at a value of $838 per sq.feet. The price for the following two months in (June, July) had a considerable increment of 168 %. The price per sq.feet has had a considerable increase of 48000 % 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 $1,110.5 to $533,035 during August, and September.
Based upon to the price in Spring Lake (cities), these have remained the same in the last 6 months. In our first sample month during April, the average price is $3,903,154. In May This price remains at $3,867,305. In the following two months the average price has remained the same with regard to the previous two months from $3,885,229.5 to $3,841,723. 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 3 bedrooms are the cheapest ones. At a price of $3,349,158 they are 3 % more affordable than the average price for Spring Lake. The properties with the lowest average price have 1 bedroom, Their price is 2 % cheaper than the average. After that we have properties with 2 bedrooms priced at $3,273,002.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $676 / sq.feet, with an average $798 / sq.feet price in Spring Lake. The properties with the lowest average prices have 1 bedroom. They are 15 % cheaper than the average followed by properties with 2 bedrooms with a price at $681 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $3,349,158 it is 3 % cheaper than the average price in Spring Lake. "Townhouse" is seen as the second most affordable property type. The cheapest type property is "Townhouse" followed by "Apartment". At a price of $3,256,667 it is 2 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $676 / sq.feet followed by "Townhouse" priced at $812 / sq.feet. "Townhouse" is the most costly type of property with a $812 / sq.feet cost followed by "Apartment" with an average price of $676 / sq.feet.