How Important are Price Averages per Square Foot?
by Hugh Evans on December 17, 2009When you are shopping for a new home, is it important to pay attention to the average price per square foot of homes in your favorite neighborhoods?
The answer is yes. Though it’s perhaps not always the most important statistic, knowing the average price of square foot in a community can at least give you a general idea and a starting point in your search. However, it is wise to resist the temptation to obsess on that number alone, for there are many other variables to consider (when evaluating the fairness of the listing price of a home you are considering making an offer on).
In the last 90 days, the average price per square foot for homes in Pacific Palisades has been rising.
In the video below, I shares additional insights into square footage, also I discuss what some of the other important variables to consider are:
