Home Buying in Oklahoma City>Question Details

mrsyphus, Home Buyer in Oklahoma City, OK

Is the sales price per square foot for the house only, or for the total sale price including the land?

Asked by mrsyphus, Oklahoma City, OK Tue Jun 10, 2014

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5
It us usually calculated by the sale price/ sq feet. If there is acreage with the home it does make it a little more tricky as different parts of the state seem to be more value. A local Realtor can help you out in determining if the home is at market value.
0 votes Thank Flag Link Fri Jun 13, 2014
Keep in mind that square footage costs do vary, and don't account for location and other considerations; therefore, it's really in your best interest to also review closed recently sold similar properties in the immediate area, and their final sales price...
2 votes Thank Flag Link Fri Jun 13, 2014
Yet another example of how bad that metric is...you can buy a tiny house on a thousand acres (where you're obviously paying for the acreage more than the dwelling), and the price per square foot would be huge! Never buy anything based on price per square foot! Look at the whole picture, based on properties that have sold of comparable value where the property is comparable, or has been equalized based on all the important aspects. Best of luck...
0 votes Thank Flag Link Fri Jun 13, 2014
House only, sales price per acre would account for the land.
0 votes Thank Flag Link Fri Jun 13, 2014
The sales price per square foot includes the overall value of the property, which is similar to how appraisers give value. The price is based on how valuable the entire property is in relation to how big the house is, but it includes factors such as the amount of land and how valuable that is in relation to other properties in the surrounding area.
0 votes Thank Flag Link Tue Jun 10, 2014
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