The prices in real estate in Stanhope, 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 Stanhope has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $139,142. In the following month the price per sq.feet decreased considerably to $117,986. The price for the following two months in (September, October) had a considerable decrease of 58 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 4 % 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 $101,688.75 to $3,591.5 during November, and December.
Based upon to the price in Stanhope (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during July, is $239,700. During August the price went through a considerable rise reaching $277,213. During the following two months (September, October) the average price had a considerable increase of 123 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 94 %, going from $288,044.5 to $270,319 in November and December.
The graph showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 44 % cheaper than the average price of $152,300 in Stanhope. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 44 % more affordable than the average aforementioned.
With regard to the average prices per sq.feet those properties with 1 bedroom are 95 % cheaper than the average price of ($177 / sq.feet) in Stanhope. Properties with the most affordable price based upon to the number of bedrooms / sq.feet are those with 1 bedroom. They are 95 % cheaper than the average value aforementioned.