Albuquerque Houses: What's the Average Price Per Square Foot?

By
Real Estate Agent with eXp Realty

What's the average price per square foot of Albuquerque Houses? We'll that's a tricky question and if youTape Measure ask me in person you'll get an earful! That's what happened to a woman at my open house Saturday.

First of all I have to say that I'm guilty of using the average price per square foot when I'm talking about the value of Albuquerque Homes, but I'm always careful to point out that this popular stat is not always the best yardstick to measure house values.

It's as if some people think that pricing a house is as simple as using a formula like this:

 

square footage X average price per square foot = house value

 

But that's far from the case. There are many different factors that go into proper pricing of an Albuquerque Home for Sale. Here's a short list of other factors that are important;

  • Location/neighborhood
  • Upgrades/Updates
  • Floorplan
  • Stories
  • Lot Size

And you can add subjective things like appeal and "flow" to the list too.

So don't get too fond of the "average price per square foot" stat. It only tells a small part of the story. 

 

 

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Rainmaker
562,448
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain

Rich,

There is a great deal of wisdom in your post. Cheap homes and luxury homes both provide value, but at different price points.

Best,

Steve

May 03, 2011 03:45 PM
Rainmaker
500,737
Mary Douglas
REALTOR, Red Feather Lakes, Colorado
United Country Ponderosa Realty

Hi Rich, I cringe when I hear this question - there are too many variables to make the answer meaningful!

May 04, 2011 09:32 AM
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Rich Cederberg

eXp Realty
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