Price Per Square Foot is NOT an accurate indicator of Value!
It does NOT take into consideration whether or not there is a Pool,
Tennis Court, View, etc.
It gives no value to the Condition of the property either: Teardowns & Newly Renovated Homes have the same price per square foot.
But more important than that , it totally ignores Ceiling Height.
A property with flat 8-foot ceilings has the same Price Per Square Foot as a home with Cathedral Ceilings, or even 2-story ceilings!
Please recognize that valuation is a complicated matter- and the one statistic that has no validity whatsoever is price per square foot!