The prices in real estate in Wood Ridge, 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 Wood Ridge has increased strongly during the last 6 months. In January, the average price per sq.feet was $254. In February this price pretty much remained the same at a value of $254 per sq.feet. The price for the following two months in (March, April) had a considerable increment of 1644 %. The price per sq.feet has had a considerable increase of 1138 % 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 $2,214.75 to $25,208.5 during May, and June.
Based upon to the price in Wood Ridge (cities), these have remained the same in the last 6 months. In our first sample month during January, the average price is $576,080. In February This price remains at $576,080. In the following two months the average price has remained the same with regard to the previous two months from $576,080 to $570,505. 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 $573,292.5 and $592,098.5 between May and June.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $578,647 they are 6 % more affordable than the average price for Wood Ridge. The properties with the highest average price have 1 bedroom, Their price is 10 % more costly than the average. After that we have properties with 3 bedrooms priced at $559,063.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $257 / sq.feet, with an average $50,146 / sq.feet price in Wood Ridge. The properties with the lowest average prices have 3 bedrooms. They are 82 % cheaper than the average followed by properties with 4 bedrooms with a price at $8,930 / sq.feet.
The graph displaying the average prices displays the property type "Detached House" as the most affordable one. At an cost of $578,647 it is 11 % cheaper than the average price in Wood Ridge. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $553,492 it is 5 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Detached House" at an average cost of $267 / sq.feet followed by "Commercial" priced at $299 / sq.feet. "House" is the cheapest type of property with a $8,930 / sq.feet value followed by "Commercial" with an average price of $299 / sq.feet.