Price per square foot calculator
Enter the subject's square footage and up to six recent comparable sales. See each comp's price per square foot, the average and median, and what the subject is worth at those rates.
Use recent sales of similar homes nearby, measured the same way as the subject: above-grade finished area, with basements and unfinished space left out.
| Property | Price | Sq ft | $/sq ft |
|---|
A quick price check, not an appraisal. Price per square foot ignores lot size, condition, age, layout and location within the neighborhood; an appraiser adjusts for those. Fannie Mae appraisals measure finished area with the ANSI Z765-2021 standard.
Price per square foot is the sale price divided by finished square footage. Four comps at $200, $214.29, $200 and $208.33 per square foot have a median of $204.17 and an average of $205.65. A 2,200 square foot subject at the median comes to about $449,167. It's a rough check, not an appraisal.
How to use the price per square foot calculator
Enter the subject
Its finished square footage, and the list or offer price if you have one.
Add comps
Up to six recent sales of similar homes: sold price and square footage.
Read the value
Median and average price per square foot and the subject's implied value.
What the price per square foot calculator covers
Up to six comps
Add, rename and remove comparable sales.
Median and average
The median resists one unusual sale; the average uses every comp equally.
Implied value
The subject's square footage times the comps' median and average rates.
Subject check
Enter a list or offer price to see how its $/sq ft compares with the median.
Copy as text
Paste the comp table into an email or your notes.
- Formula
- $/sq ft = price ÷ finished square feet; value = subject sq ft × median (or average) $/sq ft
- Measuring
- Fannie Mae appraisals use ANSI Z765-2021 for finished area; condo units use interior measurements
- Comps
- Up to 6; rows without a price and square feet are ignored
- Cost and privacy
- Free, no sign-up; runs in your browser
Questions about the price per square foot calculator
How do you calculate price per square foot?
Divide the sale price by the finished square footage. A $450,000 home with 2,100 square feet sold for about $214.29 per square foot.
Should I use the average or the median?
The median is less affected by one unusually high or low sale, so it's the headline here. With many similar comps the two are close; a big gap means a comp may not be comparable.
Which square footage should I use?
Use the same measure for every home: above-grade finished living area. Fannie Mae requires appraisers to measure it with the ANSI Z765-2021 standard, with basements and spaces below the standard's ceiling height reported separately. Condo units are measured from the interior perimeter.
Is price per square foot how appraisers value homes?
Not on its own. Appraisers compare sales and adjust for differences such as location, lot, condition, age, room count and garage. Price per square foot is a quick check, not a substitute for an appraisal.
Why do the comps' prices per square foot vary?
Smaller homes often sell for more per square foot, and condition, updates, lot size and location add differences. Pick comps that are close in size, age and location to the subject.
Can Closingbird help when the appraisal comes in low?
Closingbird tracks the appraisal contingency deadline and the documents on the file, so the team knows how long the buyer has to respond; see the guide on appraisal gaps.
Guides and features for this step of the deal
Where the rules come from
Let Closingbird keep every date for you
Closingbird reads the executed contract, fills in every deadline, party and amount, and reminds each deadline owner before the date. Calendar or business days, with weekends and US federal holidays skipped.
14 days free, no card needed.
Link to this tool
Useful for your agents or clients? Paste this into your website, newsletter or resource page.