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Price Per Sq Ft Formula:
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Price per square foot is a common measurement used in real estate to compare the value of properties by standardizing the cost relative to their size. It's calculated by dividing the total price of a property by its total square footage.
The calculator uses the simple formula:
Where:
Explanation: This calculation gives you a standardized way to compare properties of different sizes by showing how much you're paying per unit of area.
Details: Calculating price per square foot helps buyers compare properties of different sizes, assess market value, and determine if a property is priced competitively. It's also useful for appraisals and investment analysis.
Tips: Enter the total price in dollars and the square footage in square feet. Both values must be positive numbers. The calculator will automatically compute the price per square foot.
Q1: What's a good price per square foot?
A: This varies greatly by location, property type, and market conditions. Compare with similar properties in the same area.
Q2: Does price per sq ft include land value?
A: Typically yes, unless you're specifically calculating building-only value. The total price divided by total area includes all components.
Q3: How accurate is price per sq ft for comparing properties?
A: It's a good starting point but doesn't account for differences in quality, layout, or special features. Always consider other factors too.
Q4: Should I use interior or exterior measurements?
A: For residential properties, interior living space is typically used. Commercial properties may use different standards.
Q5: How does price per sq ft vary by location?
A: Significantly. Urban areas typically have higher prices per sq ft than rural areas, and desirable neighborhoods command premium rates.