The prices in real estate in West Long Branch, 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 West Long Branch has had a strong decrease during the last 6 months. In October, the average price per sq.feet was $618. In the following month the price per sq.feet decreased considerably to $188. The price for the following two months in (December, January) had a considerable decrease of 58 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 79 % 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 $319.25 to $253.5 during February, and March.
Based upon to the price in West Long Branch (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is $399,377. During November the price went through a considerable rise reaching $855,975. During the following two months (December, January) the average price had a considerable increase of 128 % 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 165 % 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 $1,304,333 they are 39 % more affordable than the average price for West Long Branch. The properties with the lowest average price have 3 bedrooms, Their price is 30 % cheaper than the average. After that we have properties with 4 bedrooms priced at $903,923.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $212 / sq.feet, with an average $252 / sq.feet price in West Long Branch. The properties with the lowest average prices have 3 bedrooms. They are 10 % cheaper than the average followed by properties with 4 bedrooms with a price at $223 / sq.feet.
The graph displaying the average prices displays the property type "Multi Family House" as the most affordable one. At an cost of $1,304,333 it is 47 % cheaper than the average price in West Long Branch. "Condo" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "Townhouse". At a price of $901,212 it is 31 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $220 / sq.feet followed by "Apartment" priced at $223 / sq.feet. "Multi Family House" is the most costly type of property with a $95,635 / sq.feet cost followed by "Apartment" with an average price of $223 / sq.feet.