Home
Back
Price Per Sqft Formula:
| From: | To: |
Price per square foot is a common metric used in real estate to compare the value of properties of different sizes. It's calculated by dividing the total price of a property by its total area in square feet.
The calculator uses the simple formula:
Where:
Explanation: This calculation provides a standardized way to compare property values regardless of their size differences.
Details: Calculating price per square foot helps buyers compare properties fairly, allows sellers to price competitively, and assists real estate professionals in market analysis and valuation.
Tips: Enter the total price in your local currency and the area in square feet. Both values must be positive numbers. The calculator will instantly compute the price per square foot.
Q1: Why is price per square foot important in real estate?
A: It provides a standardized metric to compare properties of different sizes and values, helping buyers make informed decisions and sellers price their properties appropriately.
Q2: What is a good price per square foot?
A: This varies significantly by location, property type, and market conditions. It's best to compare with similar properties in the same area.
Q3: Does this calculation work for commercial properties?
A: Yes, price per square foot is used for both residential and commercial real estate, though commercial properties may also use price per square meter.
Q4: Should I only consider price per square foot when buying property?
A: No, it's just one metric. Also consider location, condition, amenities, layout efficiency, and future appreciation potential.
Q5: How does renovation affect price per square foot?
A: Renovations typically increase the price per square foot as they add value without increasing the physical area of the property.