1. What is Sales Price Per Square Foot?

Sales Price Per Square Foot (SPSF) is a key metric in real estate that calculates the price of a property relative to its size. It helps compare property values across different sizes and locations.

2. How Does the Calculator Work?

The calculator uses the SPSF formula:

Where:

• \( SPSF \) — Sales price per square foot (currency/ft²)
• \( TC \) — Total cost or sale price (currency)
• \( SF \) — Total square footage (ft²)

Explanation: The calculator converts feet and inches measurements to total square feet before performing the division to calculate price per square foot.

3. Importance of SPSF Calculation

Details: SPSF is crucial for real estate valuation, property comparison, investment analysis, and determining fair market prices. It standardizes price comparisons across properties of different sizes.

4. Using the Calculator

Tips: Enter total cost in currency, square footage in feet and inches (inches are optional). All values must be valid (cost > 0, dimensions > 0).

5. Frequently Asked Questions (FAQ)

Q1: Why calculate price per square foot?
A: It allows for fair comparison of property values regardless of size differences and helps identify overpriced or underpriced properties.

Q2: What is a good price per square foot?
A: This varies significantly by location, property type, and market conditions. Compare with similar properties in the same area.

Q3: Should I include all square footage?
A: Typically, only finished, livable space is included. Garages, unfinished basements, and outdoor areas are usually excluded.

Q4: How accurate is this calculation?
A: The calculation is mathematically precise, but the usefulness depends on accurate measurements and comparable property data.

Q5: Can I use this for commercial properties?
A: Yes, but commercial properties often use price per square foot differently, sometimes accounting for different types of space (office, retail, storage).