$/sqft Comps

[Noob]

I have a general question regarding the use of $/sqft comparisons

. I frequently see comparisons drawn by real estate pros between houses with different numbers of bedrooms. For example, a 2/2 1500sqft home sold for $XXX per sqft while down the street, a 4/2 2200sqft home sold for $YYY per square foot.

My question is that since bathrooms and kitchens cost more to build per square foot than do bedrooms, is this a valid comparison?

A 1 bedroom house has an expensive bathroom and kitchen and a smaller proportional amount of square footage for the cheaper bedroom. Wouldn’t one expect to pay a much higher price per square foot for a one bedroom place than for a four bedroom place?

What are the limits of a valid comparison? Only between homes of equal numbers of bedrooms?

[EconProf]

You are quite right Noob. # & quality of bathrooms plays a big part, as does size and quality of kitchen. Accordingly, fewer bedrooms in a house warrant higher P/Sq.ft.
Other considerations: Size of lot–small house on big lot raises P/Sq.ft. Single-story worth more than two story. This is a big factor in “bargain” prices P/Sq.ft. Temecula McMonster houses.

[EconProf]

You are quite right Noob. # & quality of bathrooms plays a big part, as does size and quality of kitchen. Accordingly, fewer bedrooms in a house warrant higher P/Sq.ft.
Other considerations: Size of lot–small house on big lot raises P/Sq.ft. Single-story worth more than two story. This is a big factor in “bargain” prices P/Sq.ft. Temecula McMonster houses.

[EconProf]

You are quite right Noob. # & quality of bathrooms plays a big part, as does size and quality of kitchen. Accordingly, fewer bedrooms in a house warrant higher P/Sq.ft.
Other considerations: Size of lot–small house on big lot raises P/Sq.ft. Single-story worth more than two story. This is a big factor in “bargain” prices P/Sq.ft. Temecula McMonster houses.

[EconProf]

You are quite right Noob. # & quality of bathrooms plays a big part, as does size and quality of kitchen. Accordingly, fewer bedrooms in a house warrant higher P/Sq.ft.
Other considerations: Size of lot–small house on big lot raises P/Sq.ft. Single-story worth more than two story. This is a big factor in “bargain” prices P/Sq.ft. Temecula McMonster houses.

[EconProf]

You are quite right Noob. # & quality of bathrooms plays a big part, as does size and quality of kitchen. Accordingly, fewer bedrooms in a house warrant higher P/Sq.ft.
Other considerations: Size of lot–small house on big lot raises P/Sq.ft. Single-story worth more than two story. This is a big factor in “bargain” prices P/Sq.ft. Temecula McMonster houses.

[Anonymous]

re: price per sqft

i hear realtors spouting things like ‘but this is the lowest price/sf in the area’ all the time. usually what they fail to realize is that, in san diego, the land component of value is much higher than the value of the improvements. therefore, all else being equal, the larger the home is, the lower per square foot value will be. check it out, the relationship is negative almost every time.

price per sqft is a much better comparison when you’re referring to condo units, where there is no land component to value.

[Anonymous]

re: price per sqft

i hear realtors spouting things like ‘but this is the lowest price/sf in the area’ all the time. usually what they fail to realize is that, in san diego, the land component of value is much higher than the value of the improvements. therefore, all else being equal, the larger the home is, the lower per square foot value will be. check it out, the relationship is negative almost every time.

price per sqft is a much better comparison when you’re referring to condo units, where there is no land component to value.

[Anonymous]

re: price per sqft

i hear realtors spouting things like ‘but this is the lowest price/sf in the area’ all the time. usually what they fail to realize is that, in san diego, the land component of value is much higher than the value of the improvements. therefore, all else being equal, the larger the home is, the lower per square foot value will be. check it out, the relationship is negative almost every time.

price per sqft is a much better comparison when you’re referring to condo units, where there is no land component to value.

[Anonymous]

re: price per sqft

i hear realtors spouting things like ‘but this is the lowest price/sf in the area’ all the time. usually what they fail to realize is that, in san diego, the land component of value is much higher than the value of the improvements. therefore, all else being equal, the larger the home is, the lower per square foot value will be. check it out, the relationship is negative almost every time.

price per sqft is a much better comparison when you’re referring to condo units, where there is no land component to value.

[Anonymous]

re: price per sqft

i hear realtors spouting things like ‘but this is the lowest price/sf in the area’ all the time. usually what they fail to realize is that, in san diego, the land component of value is much higher than the value of the improvements. therefore, all else being equal, the larger the home is, the lower per square foot value will be. check it out, the relationship is negative almost every time.

price per sqft is a much better comparison when you’re referring to condo units, where there is no land component to value.

[CVFanGirl]

But not in my beloved Carmel Valley. Where are some statistics to back this up I wonder.

[CVFanGirl]

But not in my beloved Carmel Valley. Where are some statistics to back this up I wonder.

[CVFanGirl]

But not in my beloved Carmel Valley. Where are some statistics to back this up I wonder.

[CVFanGirl]

But not in my beloved Carmel Valley. Where are some statistics to back this up I wonder.

[Author]

Posts