Property prices for sale in Summit (New Jersey)

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.

Average price last 6 months
Price/sq.feet last 6 months
Average price per sq.feet

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.

Average price

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.

Average price per bedrooms

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.

Price per property type

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.

Charts data
Average price December
Average price per sq.feet December
Number of properties used in Summit
Number of properties used in region New Jersey
** Graph's data with null or zero value are due to there isn't enough data available to get a reliable value