The prices in real estate in Union, 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 Union has increased strongly during the last 6 months. In January, the average price per sq.feet was $223. In the following month the price per sq.feet increased considerably to $8,331. The price for the following two months in (March, April) had a considerable decrease of 5 with regard to the prior two months. The price per sq.feet has had a considerable increase of 868 % 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 $2,244.5 to $19,486 during May, and June.
Based upon to the price in Union (cities), this has gone up in the last 6 months. The average price for January is $350,740. During February the price had a considerable reduction till $276,860. During the following two months (March, April) the average price had a considerable increase of 115 % 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 141 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $317,083 they are 42 % more affordable than the average price for Union. The properties with the highest average price have 4 bedrooms, Their price is 67 % more costly than the average. After that we have properties with 3 bedrooms priced at $431,493.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $199 / sq.feet, with an average $38,803 / sq.feet price in Union. The properties with the lowest average prices have 2 bedrooms. They are 99 % cheaper than the average followed by properties with 3 bedrooms with a price at $276 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $317,083 it is 19 % cheaper than the average price in Union. "Land" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of $302,911 it is 29 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $200 / sq.feet followed by "Condo" priced at $207 / sq.feet. "Townhouse" is the cheapest type of property with a $17,899 / sq.feet value followed by "Land" with an average price of $3,984 / sq.feet.