Wil  May, Real Estate Pro in Roseville, CA

Whats a good price per sq ft for this area, for a house

Asked by Wil May, Roseville, CA Sat Mar 22, 2014

This question was asked from http://www.trulia.com/property/3146187441-2971-Neal-Ave-San-…

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I agree, price per sq. ft. is never a great way to price homes, especially in very eclectic areas like Los Gatos where I work.

Price per sq. ft. is more often used when building homes as a general guideline. I like to tell my clients that building a home on a lot costs around $300 a sq. ft. but really depends on the materials, custom high-end homes can be very $$$!
2 votes Thank Flag Link Thu Mar 27, 2014
It only makes sense when all homes in the neighborhood consists of cookie cutter similar competing properties. That is what appraiser uses for replacement cost adjustment. For example, garage to be at $100/sf, a permitted bonus room to be $130/sf etc.

Sam Shueh
Keller Wms Realty
1 vote Thank Flag Link Tue Jul 1, 2014
Wil, it looks like you're the listing agent Realtor, so I'm curious to know what YOU think! Are you trying to figure out if it's overpriced? Or what price range homes are selling in?

By the way, when it comes to resale homes, I'm not a fan of the "price per SF" way of determining how to price a home or what to offer on a home. Because....price per SF is just about basic math. Think about it: Smaller square-foot homes command higher per-square-foot costs. Larger square-foot homes command lower per-square-foot prices. Right?

Plus the Price Per SF method doesn't take into account things like finishes, lot size, age of home, updates, location, or other features like a swimming pool, hot tub, etc.

I would look at recent sold comps -- what similar size homes have been selling for in the last 3 months. In addition to the sold comps, I'd look at what the competition looks like? Are other active listings going under contract?

1 vote Thank Flag Link Sat Mar 22, 2014
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