Many people incorrectly think that price per square foot will be the same for all homes in an area, but it’s just not that simple.
There’s a major misconception out there in real estate that price per square foot will be the same in all homes in a neighborhood.
You have to consider adjustments in each unique home for the features, benefits, amenities, lot size, and other things. You can see a comparison of this in the video above. The three homes in the example range from 1,407 to 1,954 square feet but the price per square foot goes up as the total square footage goes down.
This pretty much holds true in most markets.
If you’re building a home and you have a square or rectangular foundation, the price to continue to make it larger actually decreases. Price per square foot simply isn’t always the same across the board.
When you sell your house and you’re assigning a price, you need to consider all the features and adjustments. If you’d like to know what your home is worth, we’re always happy to come out and give you an assessment and full market evaluation to let you know what your home’s price per square foot is. This will help you make sure you don’t make any mistakes when you price your home.
If you have any questions or you’re thinking about buying or selling a home here in the East Bay, give me a call or send me an email. I’m here to help.