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 December, the average price per sq.feet was $176. In January the price pretty much stayed the same at $182 per sq.feet. In the following two months (February, March) the price per sq.feet has risen strongly to a 151 %. In the last two months, the price per sq.feet has had a significant increase of 7601 %. This has been obtained by comparing the price of $225 for the first four months of the sample with regard to the previous 4 months and the price of $17,102 per sq.feet for the last two months (April, May).
Based upon to the price in New Jersey(region), this has increased considerably in the last 6 months. In the first month sample December the average price is $363,829. In January the price was the same at $373,783. The price in the following months (February, March) had a strong increment of 116 % going from $368,806 to $426,972. During the last two months the price has risen 114 % compared to the previous average values going from $397,889 a $455,277 in April and May.
The graph displaying the the average price per number of bedrooms shows that those with 2 bedrooms are the cheapest ones. They are 46 % more affordable than the average price in New Jersey followed by those with 1 with an average price of $269,531. The most costly properties have 4 bedrooms. They are 23 % more expensive than the average followed by those properties with 3 bedrooms priced at $316,117.
Based on the average price per sq.feet those properties with 1 bedroom are the cheapest ones with a price of $9,762 / sq.feet being $33,717 / 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 208 % more costly than the average followed by those with 3 bedrooms with a price of $35,326 / sq.feet.
The graph displaying the average price according to the property type shows "Land" as the cheapest one. With an average cost of $450,696 it is 46 % more affordable than the average in New Jersey. This is followed by "Apartment" with a price of $301,350. The dearest property type is "Commercial" and is 61 % more expensive than the average, followed by "House" with a cost of $505,813.
Based on the average cost per sq.feet the cheapest property type is "Land with a an average cost of $109 / sq.feet, followed by "Apartment" with a price of $1,564 / sq.feet. "House" with an average price of $50,673 / sq.feet is the most costly type of property followed by "Townhouse" at a price of $27,028 / sq.feet.