Not exact matches
To get the most realistic price
of a
home, you need to compare it to other
homes that were
sold in the past six months that had similar
square footage and are in the same or similar neighborhood.
It was obvious most
of the attending Board members were not familiar with green features when I listened to comments about the high expense to build a green
home and poor timing in the current economy for
selling more expensive
homes with less
square footage.
In some areas
of the country, single - level
homes are more desirable than two - to three - story
homes, and although the
square footage of those
homes could be identical, a single - level
home might
sell at a higher per -
square - foot cost.
Once you've got a list
of similar
homes sold within the last year, divide the
selling price by the size (
square footage)
of the
home for a price - per - sqft value and find the average
of all the properties.
Blacks / African - Americans
sell homes with an average
square footage of 1,950, compared to 1,940 for Asians / Pacific Islanders, and 1,800 for Caucasians.
Latinos / Hispanics tend to
sell homes with a larger footprint than other groups, with an average
square footage of 2,100.
A
home like yours, with that much
square footage, in a desirable area, still
sells for upwards
of $ 300K.