The prices in real estate in Summit, 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 Summit has increased strongly during the last 6 months. In July, the average price per sq.feet was . In the following month the price per sq.feet increased considerably to $459. The price for the following two months in (September, October) had a considerable increment of 3997 %. The price per sq.feet has had a considerable deflation of 12 % 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 $4,701.25 to $583.5 during November, and December.
Based upon to the price in Summit (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during July, is . During August the price went through a considerable rise reaching $1,459,393. During the following two months (September, October) the average price had a considerable increase of 138 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 129 % during the last two months.
The graph showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 3 % cheaper than the average price of $1,110,511 in Summit. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 3 % more affordable than the average aforementioned.
With regard to the average prices per sq.feet those properties with 1 bedroom are 306 % more costly than the average price of ($2,953 / sq.feet) in Summit. Properties with the most expensive price based upon to the number of bedrooms / sq.feet are those with 1 bedroom. They are 306 % more costly than the average value aforementioned.
The graph displaying the average prices displays the property type "Duplex" as the most affordable one. At an cost of $1,141,660 it is 3 % cheaper than the average price in Summit. "Apartment" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "Duplex". At a price of $1,107,181 it is 3 % 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 $2,944 / sq.feet followed by "Apartment" priced at $2,953 / sq.feet. "Apartment" is the most costly type of property with a $2,953 / sq.feet cost followed by "Duplex" with an average price of $2,944 / sq.feet.