The prices in real estate in Union City, 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 City has increased strongly during the last 6 months. In February, the average price per sq.feet was $295. In the following month the price per sq.feet increased considerably to $350. The price for the following two months in (April, May) had a considerable increment of 145 %. The price per sq.feet has had a considerable increase of 1237 % 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 $394.75 to $4,884.5 during June, and July.
Based upon to the price in Union City (cities), this has gone up considerably in the last 6 months. In our first sample month during February, the average price is $384,792. In March This price remains at $385,270. During the following two months (April, May) the average price had a considerable increase of 142 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $466,025.25 and $481,927.5 between June and July.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $438,334 they are 28 % more affordable than the average price for Union City. The properties with the highest average price have 4 bedrooms, Their price is 377 % more costly than the average. After that we have properties with 3 bedrooms priced at $608,800.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $376 / sq.feet, with an average $407 / sq.feet price in Union City. The properties with the highest average prices have 4 bedrooms. They are 7642 % more expensive than the average followed by properties with 3 bedrooms with a price at $22,060 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $438,334 it is 32 % cheaper than the average price in Union City. "Condo" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Condo". At a price of $471,200 it is 20 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Condo" at an average cost of $429 / sq.feet followed by "House" priced at $2,930 / sq.feet. "Land" is the most costly type of property with a $3,564 / sq.feet cost followed by "House" with an average price of $2,930 / sq.feet.