What is the usual price per square foot that buyer would make on a purchase offer? How does lot size figure into the price>?

Asked by Flora411, 10309 Thu Sep 5, 2013

Seems Trulia says that the average is $252 per sq ft for houses sold. Is that the usual rule.

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J, Agent, Greensboro, NC
Fri Sep 6, 2013
The price per square foot of a house will vary with recent and similar sold properties within close proximity to the subject house. I've assisted many buyers and sellers using price per square foot, and in my opinion it is the most accurate in realizing a FMV. I understand this method is often used by savvy investors and the banking industry. Good luck to you! I like the way you think.
1 vote
Anna M Brocco, Agent, Williston Park, NY
Fri Sep 6, 2013
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...
1 vote
Jim Olive, Agent, Key West, FL
Thu Sep 5, 2013
That is, perhaps, the biggest flaw with price per square foot as a metric. Not my favorite tool at all. Far too many things can render it useless when you're not comparing correctly. Apples to apples doesn't even cut it, you would really need to get down to Macintosh to Macintosh. Stick with broader metrics like size, price and location. If you want to get any deeper than that, consult a pro who does so regularly and has the experience to do it accurately.
1 vote
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