SF District 1: Inner Richmond

Average Price per Square Footage (Average Price per Square Footage (Sold))

This information is sponsored by:

CA Dept. Real Estate: 02009074. Broker of Record NMLS : 1403204. Corporate NMLS: 1829222.

CA Dept. Insurance: OL88065.

* All reports are published based on data available at the end of previous month. All reports presented are based on data supplied by BAREIS MLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

How do you calculate the Average Price per Square Footage?

  • Average Price per Square Footage is the average of sold price divided by square footage of sold listings.

What Does Average Price per Square Footage Report Do?

  •  It helps establish the market price for an average home.
  • It helps determine if there is any change in property value for a specific area in a specific price range.

How to Use Average Price per Square Footage Report?

  • Use the highest and lowest monthly average price per square foot on the chart to establish the most marketable price range in a specific area.
  • If the home has a larger than normal lot, a special amenity, or is located in an area of higher social demand, the home price must be adjusted upward.
  • Refer to For Sale vs. Sold Report for the number of properties sold per month. If there are less than five properties sold per month for a specific price range, the average price per square foot might be skewed and is not as useful. In this case, an average of the fifteen months or more figures should be used in setting the price.

You Should Know

  • The garage area is not included in the square footage price calculation.
  • Individual listings in the MLS system without square foot information are excluded in the average square foot price calculation.
  • This report is not available where reporting of property square footage information is prohibited by the local MLS.