square footage

The last two days you’ve seen price per square foot in Braidwood and Coal City. Morris trumps each of those communities with an average price per square foot of $99.85 and a median of $100.87.

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Piggybacking off yesterday’s price per square feet post (and subsequent statistics for Braidwood), I thought we’d take a #Staturday look at the same thing in Coal City.

In the last year of Coal City single family homes, the average price per (reported*) square foot was $91.96 with a median of $93.10.

*Please note- of the 90 such houses to close, 19 (21%) failed to report the home’s square footage on the listing.

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One of the first questions a buyer will typically ask when walking into a house is, “how many square feet is this?” It’s a reasonable question. It gives a baseline by which to compare house to house. Of course, with that, comes a question of how many price per square foot one is paying for one house compared to another.

This is a very inexact science of comparing as it takes into account only two things: sold price and square feet (to make matters worse- one will encounter incorrect square footages on listings on occasion). It also doesn’t take into account any of the other things that will help a house sell: flow, landscaping, condition, area amenities, etc.

Of Braidwood, IL single family homes to close 9/2/13 to 9/2/14 the average price per square foot sold was $78.41 (median was $84.37).

The above chart shows how ‘all over the place’ this method of comparison is. That said, it’s still real estate statistics and real estate statistics are fun. Check back over the next two  days for the price per square foot rundown in Coal City and Morris.

*One other note. Of the 72 such houses to sell in the above graphed span, 10 houses (14% of those closed) reported no square footage. They obviously have square feet……they just didn’t list what it was.*

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