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When comparing one house to another, the statistic that’s often used is price per square foot. Unfortunately, using price per square foot doesn’t paint an adequate picture when comparing houses. It can often be misleading and doesn’t take other factors into consideration. You can’t make generalizations like that when comparing unique houses.
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Bill thanks for the link to my article on price per square foot. There are many agents that put way too much emphasis on that statistic!
Bill:
Thanks for the comment. I think the reason this ratio is highly touted isn’t because its a great measure for comparison, but because it’s easily available and automatically churned out on the MLS CMAs. Following the theme of ReallyRottenRealty.com, why work if you don’t have to…..