The prices in real estate in Union City, 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 Union City has had a strong decrease during the last 6 months. In August, the average price per sq.feet was $3,115. In the following month the price per sq.feet decreased considerably to $402. The price for the following two months in (October, November) had a considerable decrease of 22 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 35 % 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 $1,072 to $374.5 during December, and January.
Based upon to the price in Union City (cities), this has fallen considerably in the last 6 months. The average price for August is $535,448. During September the price had a considerable reduction till $423,796. During the following two months (October, November) the average price had a considerable reduction of 81 % 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 89 %, going from $433,057.5 to $386,563 in December and January.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $366,180 they are 23 % more affordable than the average price for Union City. The properties with the highest average price have 3 bedrooms, Their price is 42 % more costly than the average. After that we have properties with 4 bedrooms priced at $501,580.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $238 / sq.feet, with an average $376 / sq.feet price in Union City. The properties with the highest average prices have 3 bedrooms. They are 10 % more expensive than the average followed by properties with 2 bedrooms with a price at $397 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $366,180 it is 39 % cheaper than the average price in Union City. "Land" is seen as the second most affordable property type. The dearest property type is "House" followed by "Land". At a price of $522,593 it is 55 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $295 / sq.feet followed by "House" priced at $395 / sq.feet. "Land" is the most costly type of property with a $3,540 / sq.feet cost followed by "House" with an average price of $395 / sq.feet.