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 $706. The following month (May) the price had a considerable increase reaching $1,548 per sq.feet. In the following two months (June, July) the price per sq.feet has risen strongly to a 172 %. In the last two months, the price per sq.feet has had a significant decrease of 11 %. This has been obtained by comparing the price of $1,533.5 for the first four months of the sample with regard to the previous 4 months and the price of $166 per sq.feet for the last two months (August, September).
Based upon to the price in New Jersey(region), this has decreased considerably in the last 6 months. April has an average price of $478,063. During May the price had a slight deflation till $444,589. In the following two months the average price didn't change much compared to the previous two going from $461,326 to $456,703.5. During the last two months the price has had a considerable reduction of 69 % with respect to the previous four months going from $459,014.75 a $315,864.5.
The graph displaying the the average price per number of bedrooms shows that those with 3 bedrooms are the cheapest ones. They are 9 % more affordable than the average price in New Jersey followed by those with 2 with an average price of $293,084. The most costly properties have 4 bedrooms. They are 45 % more expensive than the average followed by those properties with 1 bedroom priced at $312,540.
Based on the average price per sq.feet those properties with 3 bedrooms are the dearest ones with a price of $167 / sq.feet being $158 / sq.feet the average value within the New Jersey region. The properties with the most expensive average price are those with 1 bedroom. These are 146 % more costly than the average followed by those with 2 bedrooms with a price of $225 / sq.feet.
The graph displaying the average price according to the property type shows "Apartment" as the cheapest one. With an average cost of $299,572 it is 23 % more affordable than the average in New Jersey. This is followed by "House" with a price of $308,923. The dearest property type is "Land" and is 355 % more expensive than the average, followed by "Commercial" with a cost of $635,982.
Based on the average cost per sq.feet the cheapest property type is "House with a an average cost of $155 / sq.feet, followed by "Land" with a price of $165 / sq.feet. "Commercial" with an average price of $3,592 / sq.feet is the most costly type of property followed by "Condo" at a price of $339 / sq.feet.