The prices in real estate in West Orange, 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 West Orange has increased strongly during the last 6 months. In March, the average price per sq.feet was $1,561. In the following month the price per sq.feet increased considerably to $6,082. The price for the following two months in (May, June) had a considerable decrease of 58 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 58 % 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 $3,015.5 to $1,739 during July, and August.
Based upon to the price in West Orange (cities), this has gone up considerably in the last 6 months. The price in March is $460,438, rising in April till $500,633. During the following two months (May, June) the average price had a considerable increase of 118 % 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 gone up 109 % 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 $541,038 they are 42 % more affordable than the average price for West Orange. The properties with the highest average price have 1 bedroom, Their price is 31 % more costly than the average. After that we have properties with 3 bedrooms priced at $704,562.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $2,353 / sq.feet, with an average $2,618 / sq.feet price in West Orange. The properties with the highest average prices have 1 bedroom. They are 345 % more expensive than the average followed by properties with 3 bedrooms with a price at $11,598 / 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 $313,016, they are 42 % more affordable than the average price of (!PRECIO2!). "House" has the lowest price. This price is 42 % more affordable than the average price aforementioned.
According to the average area cost by sq.feet the cheapest property type is "House with an average price of $2,353 / sq.feet. "House" with an average cost of $2,353 / sq.feet has the lowest price and would be directed at less affluent cities.