Price per Sq. Ft. National and Local
One definite marker of current value in your home––or a home you’re looking at investing in––comes down to price per square foot.
Of course, this changes every year, every quarter and every month in our rising markets. And Home buyers in different regions of the U.S. sometimes pay vastly different prices per square foot.
These were the median prices of new homes in 2016. “Daily Real Estate News” reported in October of this year that the median price per square foot on a new single-family home currently ranges from $81 to $150 across the country, with the highest being in New England, according to a National Association of Home Builders analysis. The Pacific Division of the country has the second highest median price, at $138 per square foot. On the other hand, the lowest median prices can be found in the southern regions, with $81 in the East South Central Division, $89 in the West South Central Division, and $91 in the South Atlantic, according to NAHB. These estimates seem a bit low, but the relative prices across the country do make sense. Here’s what’s current in our area now:
As a precursor to local numbers, recall some points we’ve mentioned before:
*What kind of neighborhood do you want to join?*
Our area is favorable because there are so many cities clearly worthy of investment, and while prices have been rising, it’s still a good time for a wise investment in DFW properties that will continue to rise in 2018 (See pg 2).
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