Price Per Square Foot Calculator

Understanding Price per Square Foot

Price per square foot is one of the most commonly used metrics in real estate to compare property values. It provides a standardized way to evaluate properties of different sizes and helps buyers, sellers, and investors make informed decisions about fair market value.

Key Considerations

• Compare similar properties in the same neighborhood or area
• Consider property condition, age, and recent updates or renovations
• Account for lot size, outdoor space, and land value
• Factor in amenities such as garages, pools, and finished basements
• Evaluate market trends and local economic conditions
• Remember that larger homes typically have lower price per square foot
• Location and school districts can significantly impact pricing

When to Use This Metric

• Initial property comparison and screening
• Estimating construction costs for new builds
• Identifying overpriced or underpriced properties
• Setting listing prices for properties on the market
• Negotiating purchase offers based on market data

References

The pricing methodology and guidelines used in this calculator are based on industry standards from real estate professionals:

• National Association of REALTORS®
• Zillow - Home Values and Market Data
• Redfin - Real Estate Market Data
• Realtor.com - Housing Market Research