Property Q&A in Sterling>Question Details

Fabrizio, Home Buyer in Washington Boro, PA

Hou much is the average price per square meter for this area? I am looking for a townhome of approx.300 square meter. Tx Fabrizio

Asked by Fabrizio, Washington Boro, PA Mon Jan 3, 2011

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This question is about this property: http://www.trulia.com/property/38880393-20585-Banbury-Sq-Ste…

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Hi Fabrizio - you have some good answers from my colleagues and I would like to provide some additional things to think about.

I know things work differently in different parts of the world for real estate. In this area, price per square foot is a very minor factor when analyzing real estate prices. Each neighborhood has different pricing based on desirability/quality of neighborhood. This is related to lots of things like age of housing, school districts, etc. Some people look at the types of cars in the neighborhood, some people look at the crime statistics or how well the yards and houses are maintained.

I know of one specific scenario where a SFH of the exact same sq footage is worth $250K in one neighborhood and $425K in a neighborhood 2 miles away. The way to see the price for a particular neighborhood is to have your buyer's agent do the analysis of the comps for you. There are also public websites where you can search to get an idea on your own - like homesdatabase.com

The two car garage townhomes in the 20165 zip code are selling for about $425K right now - could be more, could be less for the one that you end up liking, but that is a reasonable rate for the 20165 zip code for the past few months.

Please let me know if you have any further questions or would like to speak about the possibility of working together on your home search.

Thanks,
Sonal
703-863-0031
0 votes Thank Flag Link Mon Jan 3, 2011
Fabrizio,

Here is a Comparative Market Analysis (CMA) that reflects the last 45 days of market activity for all of Sterling, for homes in the 850-1250sf size range.

http://matrixreports2.mris.com/MatrixReportServer/Output/130…

Please feel free to contact myself or any of my colleagues who post here if you would like to explore this data or your homebuying needs further.


All my best,
Lisa

Lisa Moroniak | REALTOR® | Service360°
Keller Williams Realty
Phone: 703-635-0388
Fax: 703-679-1701
http://www.LisaMoroniak.com
Licensed in VA
Web Reference: http://www.LisaMoroniak.com
0 votes Thank Flag Link Mon Jan 3, 2011
That can vary largely depending on the neighborhood. Prices will start at around $100 per square foot and go up to $250 per square foot. For more expensive townhouses that price is usually closer to $200 per square foot, and for more affordable neighborhoods $150-175 per square foot.

To put that into meters and the size you are thinking of, roughly 3200 square feet is equal to 300 square meters, so that is a pretty large townhouse. There are a number of neighborhoods with 260-270 square meter homes that are selling between $375k-$425k. There is one neighborhood in Sterling with 300 square meter townhomes, those are selling for just over $500k. There are also a couple in nearby areas outside of Sterling available for $375k.

I'd be happy to show you a couple of these if you want to go take a look at some of them. There are a couple I have in mind that I think might be just what you are looking for.

Jacob Taylor
540-303-3616
http://www.TheRealTaylor.com
0 votes Thank Flag Link Mon Jan 3, 2011
Dear Febrizio, I help banks determine the value and pricing so I can comfortably answer this question and I live in Sterling for long time.

Price per sq ft. is usually determined here. It is directly proportional to the age and location of the home. Overall, it can vary from 140/sq ft to 200/sq ft.

What is causing you to do this analysis? are you looking to buy an investment property or moving to the area.

Happy 2011!!
Monika
info@realtygeeks.com
Web Reference: http://www.realtygeeks.com
0 votes Thank Flag Link Mon Jan 3, 2011
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