If you go down to the Ann Arbor tax assessor's office, they actually have a map with "neighborhood values," as $ per square foot can be influence by the area. As with any statistic, this one has many variations behind it. Sometimes, it is just plain logic. Is the home or condo newer? Does it have a finished lower level (not counted in the sqaure footage.) A smaller home will skew toward larger $ per square ft since a larger %age of it is probably kitchen and baths, more expensive rooms.
So use it as a guide, but one that is not at all hard and fast. The variation in the statistical significance, when you are pricing just one home, is great.
Let me put in my plug for dealing with a Realtor here. We not only have the sales figures, but we are out in the market day in and day out, and have a well-honed knowledge of prices. When you want to price a home for sale or for purchase, have your Realtor do a Comparative Market Analysis for you, to show you a likely price for the subject home by comparing it to recent sales on the market.
AND let me not miss my opporutnity to say here, that I would be happy to help further with any Real Estate questions that you may have.
Edward Surovell Realtors
Your question was not clear to me so I used the sold data rather than the on the market data (they should not be too different).
The average square foot price of the sold houses last month was $124. per sq ft but the high $ per sq ft was $448. Certainly the neighborhood matters but to answer your question directly the answer is $124.per sq ft. . Last year for this same time period it was $130 per sq ft with a high of $237. Feel free to call me directly for any clarification or further discussion.
Good luck in your quest for good answers.
734/ Mi-LANDS (645-2637)