The prices in real estate in West Orange, 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 Orange has had a strong decrease during the last 6 months. In June, the average price per sq.feet was $5,998. In the following month the price per sq.feet decreased considerably to $3,262. The price for the following two months in (August, September) had a considerable decrease of 42 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 48 % 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 $3,285 to $1,581 during October, and November.
Based upon to the price in West Orange (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during June, is $316,033. During July the price went through a considerable rise reaching $396,899. During the following two months (August, September) the price has had an average incrementation from $356,466 to $394,540. Based on an analysis of the first four prices and the last two months the average price has risen strongly 132 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 4 bedrooms are the cheapest ones. At a price of $563,881 they are 44 % more affordable than the average price for West Orange. The properties with the highest average price have 1 bedroom, Their price is 26 % more costly than the average. After that we have properties with 4 bedrooms priced at $315,851.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the most costly ones at a cost of $2,380 / sq.feet, with an average $2,101 / sq.feet price in West Orange. The properties with the highest average prices have 1 bedroom. They are 457 % more expensive than the average followed by properties with 4 bedrooms with a price at $2,380 / sq.feet.
With regard to the average price based upon the property in West Orange we can see that the cheapest property type is "House" at a price of $315,851, they are 44 % more affordable than the average price of (!PRECIO2!). "House" has the lowest price. This price is 44 % more affordable than the average price aforementioned.
According to the average area price by sq.feet the most costly property type is "House with an average price of $2,380 / sq.feet. "House" at an average price of $2,380 / sq.feet has the most expensive price and would be directed at more affluent cities.