The average price in the New Jersey region has had a strong decrease in recent months. There has been a strong deflation in the prices in this region.
The price per sq.feet in New Jersey has risen considerably in the last 6 months. During September, the average price per sq.feet was $28,767. The following month (October) the price had a considerable deflation reaching $1,521 per sq.feet. The following two months (November, December) went through a considerable deflation of 29 % in the price per sq.feet with regard to the previous two. In the last two months, the price per sq.feet has had a significant decrease of 3 %. This has been obtained by comparing the price of $9,732 for the first four months of the sample with regard to the previous 4 months and the price of $247 per sq.feet for the last two months (January, February).
Based upon to the price in New Jersey(region), this has decreased considerably in the last 6 months. September has an average price of $585,339. During October the price had a slight deflation till $509,723. The average price for the following two months (November, December) decreased 87 % compared to the prior two. During the last two months the price has had a considerable reduction of 80 % with respect to the previous four months going from $512,005.5 a $411,145.
The graph displaying the the average price per number of bedrooms shows that those with 1 bedroom are the cheapest ones. They are 37 % more affordable than the average price in New Jersey followed by those with 2 with an average price of $314,764. The most costly properties have 4 bedrooms. They are 17 % more expensive than the average followed by those properties with 3 bedrooms priced at $351,445.
Based on the average price per sq.feet those properties with 4 bedrooms are the cheapest ones with a price of $202 / sq.feet being $267 / 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 40 % more costly than the average followed by those with 2 bedrooms with a price of $252 / sq.feet.
The graph displaying the average price according to the property type shows "Apartment" as the cheapest one. With an average cost of $423,979 it is 58 % more affordable than the average in New Jersey. This is followed by "Land" with a price of $313,882. The dearest property type is "Commercial" and is 168 % more expensive than the average, followed by "Condo" with a cost of $592,809.
Based on the average cost per sq.feet the cheapest property type is "Apartment with a an average cost of $164 / sq.feet, followed by "Condo" with a price of $3,375 / sq.feet. "Land" with an average price of $89,169 / sq.feet is the most costly type of property followed by "House" at a price of $40,681 / sq.feet.