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 $487. The following month (May) the price had a considerable increase reaching $33,717 per sq.feet. In the following two months (June, July) the price per sq.feet has risen strongly to a 293 %. In the last two months, the price per sq.feet has had a significant decrease of 75 %. This has been obtained by comparing the price of $33,616.5 for the first four months of the sample with regard to the previous 4 months and the price of $25,286.5 per sq.feet for the last two months (August, September).
Based upon to the price in New Jersey(region), this has increased in the last 6 months. In the first month sample April the average price is $459,858. In May the price was the same at $450,696. The price in the following months (June, July) had a strong increment of 115 % going from $455,277 to $524,892.5. During the last two months the price has had a considerable increase of 116 % with respect to the previous four months going from $490,084.75 a $567,159.
The graph displaying the the average price per number of bedrooms shows that those with 2 bedrooms are the cheapest ones. They are 49 % more affordable than the average price in New Jersey followed by those with 1 with an average price of $306,383. The most costly properties have 4 bedrooms. They are 9 % more expensive than the average followed by those properties with 3 bedrooms priced at $401,529.
Based on the average price per sq.feet those properties with 1 bedroom are the cheapest ones with a price of $820 / sq.feet being $28,767 / 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 153 % more costly than the average followed by those with 2 bedrooms with a price of $11,487 / sq.feet.
The graph displaying the average price according to the property type shows "Land" as the cheapest one. With an average cost of $585,339 it is 55 % more affordable than the average in New Jersey. This is followed by "Apartment" with a price of $268,465. The dearest property type is "Commercial" and is 28 % more expensive than the average, followed by "House" with a cost of $587,953.
Based on the average cost per sq.feet the cheapest property type is "Apartment with a an average cost of $247 / sq.feet, followed by "Condo" with a price of $2,373 / sq.feet. "House" with an average price of $46,202 / sq.feet is the most costly type of property followed by "Land" at a price of $40,377 / sq.feet.