Convert each comp's sold price into a price-per-sqft metric for easier comparison and analysis.
Price Per Sqft = Sold Price ÷ Square Footage
Example: $250,000 ÷ 1,800 sqft = $138.89/sqft
| Comp | Sold Price | Sqft | $/Sqft | Condition |
|---|---|---|---|---|
| 123 Oak St | $245,000 | 1,650 | $148.48 | Renovated |
| 456 Elm Ave | $232,000 | 1,720 | $134.88 | Renovated |
| 789 Pine Dr | $255,000 | 1,800 | $141.67 | Renovated |
| Average $/Sqft: | $141.68 | |||
Price per sqft varies GREATLY by condition. A renovated home might be $150/sqft while an as-is home is $90/sqft in the same neighborhood. Always compare like-to-like conditions.
Convert each comp's sale price to a price-per-square-foot to normalize the data for comparison.
Price Per Sqft = Sale Price ÷ Square Footage
| Comp | Sale Price | Sqft | $/Sqft |
|---|---|---|---|
| 123 Main St | $245,000 | 1,650 | $148.48 |
| 456 Oak Ave | $268,000 | 1,720 | $155.81 |
| 789 Pine Rd | $232,000 | 1,580 | $146.84 |
| Average | $150.38/sqft |
San Antonio
$120-180
Varies by ZIP
Atlanta Metro
$140-220
Higher in ITP
Nashville
$200-300
Hot market
Price per sqft normalizes different-sized properties for comparison. A $300K 2000sqft house ($150/sqft) is comparable to a $225K 1500sqft house ($150/sqft) - they're in the same range.