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What is Price Per Square Foot?


Price per square foot is a common unit of measurement used in real estate to indicate the cost of a property or a specific area within a property. It is calculated by dividing the total price of the property by the total number of square feet in that property.


The formula to calculate price per square foot is:


Price per square foot = Total Price of Property ÷ Total Square Feet


For example, if a house is listed for $300,000 and has a total area of 2,000 square feet, the price per square foot would be:


$300,000 ÷ 2,000 sq. ft. = $150 per square foot


Price per square foot is commonly used in real estate to compare the relative value of properties with different sizes or to determine the market value of a property based on its size. It is also helpful for buyers and sellers to understand the cost of different properties or areas within properties and make informed decisions based on the price per square foot metric.



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