Property prices for sale in Summit (New Jersey)

The price per sq.feet in Summit has increased strongly during the last 6 months. In November, the average price per sq.feet was $8,864. In the following month the price per sq.feet increased considerably to $13,465. The price for the following two months in (January, February) had a considerable increment of 491 %. The price per sq.feet has had a considerable increase of 173 % 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 $32,992.25 to $57,164.5 during March, and April.

Based upon to the price in Summit (cities), these have remained the same in the last 6 months. In our first sample month during November, the average price is $2,043,806. In December This price remains at $1,992,835. During the following two months (January, February) the price has had an average incrementation from $2,018,320.5 to $2,289,790.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 90 %, going from $2,154,055.5 to $1,932,103.5 in March and April.

The graph displaying the average price for bedrooms illustrates that those properties with 4 bedrooms are the cheapest ones. At a price of $1,834,762 they are 42 % more affordable than the average price for Summit. The properties with the lowest average price have 1 bedroom, Their price is 40 % cheaper than the average. After that we have properties with 3 bedrooms priced at $1,080,900.

With regard to the average price per sq.feet , those properties with 4 bedrooms are the most costly ones at a cost of $2,827 / sq.feet, with an average $653 / sq.feet price in Summit. The properties with the highest average prices have 1 bedroom. They are 344 % more expensive than the average followed by properties with 3 bedrooms with a price at $2,872 / sq.feet.

The graph displaying the average prices displays the property type "Duplex" as the most affordable one. At an cost of $1,834,762 it is 43 % cheaper than the average price in Summit. "Condo" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Condo". At a price of $1,059,478 it is 42 % more affordable than the average price.

According to the average cost per sq.feet, the most expensive property type would be "Duplex" at an average cost of $2,788 / sq.feet followed by "Condo" priced at $2,812 / sq.feet. "House" is the most costly type of property with a $2,827 / sq.feet cost followed by "Condo" with an average price of $2,812 / sq.feet.