What’s The Price Per Square Foot in Tucson?

October 26, 2009 | By Kelley Koehler | Filed Under Home Buying 

lovely home in armory park, tucson az If I told you a house was $175/square foot, is that a good deal or a bad deal?

You can’t really say, can you?

Every so often, I get asked about price per square foot – what is the average price per square foot in Tucson?  Really, it isn’t an answerable question.

Think about what that price per square foot figure really tells you – the price and how large the house is under the roof. 

What it doesn’t tell me is what condition the house is in, if it has an air conditioner, a pool, a 3 car garage.  It doesn’t tell me anything about the lot size or the location.  Doesn’t tell me if the house has been updated or not.  Doesn’t tell me if that’s a five bedroom house with only one bathroom, if the house is 5 years old or 50, or if there have been unpermitted additions.

In fact, the only time looking at price per square foot makes sense is when you’re looking at a collection of very similar homes – homes of similar size, age, location, condition, and lot size.  That’s what we do when we try to determine market value for a home, either to help a home buyer craft an offer, or a home seller price their house.  If we can pull together a collection of very similar homes, then yes, we can start talking about price per square foot.  Otherwise, comparing price per square foot on homes in different areas is really just extra and misleading information.

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