The average price in the New Jersey region has had an strong increase in recent months. There has been a strong inflation in the prices in this region.
The price per sq.feet in New Jersey has increased strongly in the last 6 months. During April, the average price per sq.feet was $262. The following month (May) the price had a considerable increase reaching $307 per sq.feet. In the following two months (June, July) the price per sq.feet has risen strongly to a 250 %. In the last two months, the price per sq.feet has had a significant decrease of 56 %. This has been obtained by comparing the price of $497.25 for the first four months of the sample with regard to the previous 4 months and the price of $277 per sq.feet for the last two months (August, September).
Based upon to the price in New Jersey(region), this has increased considerably in the last 6 months. The average price in April is $500,008. In May the price increased to $548,227. The price in the following months (June, July) had a strong increment of 126 % going from $524,117.5 to $662,689.5. During the last two months the price has reduced 94 % compared to the previous average values going from $593,403.5 a $557,876.5 in August and September.
The graph displaying the the average price per number of bedrooms shows that those with 2 bedrooms are the cheapest ones. They are 37 % more affordable than the average price in New Jersey followed by those with 1 with an average price of $353,405. The most costly properties have 4 bedrooms. They are 30 % more expensive than the average followed by those properties with 3 bedrooms priced at $422,914.
Based on the average price per sq.feet those properties with 2 bedrooms are the cheapest ones with a price of $217 / sq.feet being $277 / sq.feet the average value within the New Jersey region. The properties with the most expensive average price are those with 4 bedrooms. These are 316 % more costly than the average followed by those with 1 bedroom with a price of $448 / sq.feet.
The graph displaying the average price according to the property type shows "Land" as the cheapest one. With an average cost of $543,727 it is 31 % more affordable than the average in New Jersey. This is followed by "Townhouse" with a price of $384,425. The dearest property type is "House" and is 16 % more expensive than the average, followed by "Detached House" with a cost of $592,942.
Based on the average cost per sq.feet the cheapest property type is "Townhouse with a an average cost of $240 / sq.feet, followed by "Detached House" with a price of $273 / sq.feet. "Land" with an average price of $7,113 / sq.feet is the most costly type of property followed by "Apartment" at a price of $846 / sq.feet.