However, I'm not a big fan of relying heavily on price per square foot. Price per square foot is far more applicable to construction costs, and somewhat applicable to rehab costs. (Actually, it's not so great for rehabs, either, but some people use it.)
But as a retail buyer, price per square foot tells me almost nothing. Consider: The cost of top-grade bathrooms and a kitchen, versus medium-grade isn't going to greatly affect the per-foot cost. But it can make a huge difference in the desirability of a property. The property's layout--the flow from the entrance to living room, dining room, access to bedrooms, etc.--won't be reflected at all in square foot price. A 2,000 sq. ft. house is a 2,000 sq. ft. house, period. The curb appeal isn't reflected in the sq. ft. price. Great landscaping will barely have any effect on that price, but will have a significant effect on a property's desirability. How about quality of workmanship in the house?
I'm sure you're hoping to hear that you got a really good deal on your purchase. You may have. But looking at cost per square foot really isn't the determinant.
I know I am 20% below the closest comp 6 months ago with no view on not on golf course, I am just trying to make sure I price in the anticipated declines in Pahrump over the next year.
This also says nothing of the fact that ultimately "good price" is determined mostly by the buyer. If you are happy with the home, and you feel you got a deal - then it's a good price.