Price Per Foot Residential Construction

I did a google search for “Price Per Foot Residential Construction” and found the following average price: 100.00 to 156.00 per square foot, however, as I continued to dig in, I discovered the price per square foot from many of the websites from the google results page is a reflection and originates mostly from realtor.com: https://www.realtor.com/advice/buy/is-it-cheaper-to-buy-or-build-a-house/. The article dated *Aug 23, 2019 includes the following excerpt: “How much does it cost to build a house?  According to data from the National Association of Home Builders, the median price of constructing a single-family home is $289,415, or $103 per square foot.” As I read the article, I also discovered the estimate of 103.00 per square foot was from the **”National Association of Home Builders” and the link refers to an article dated: November 2, 2015, and was a reflection from another source: ***Housing Economics website article dated Nov 2, 2015. The 2020 ****COST OF CONSTRUCTING A HOME from the same source is 114.36 per square foot. However, there is another link at realtor.com (https://www.realtor.com/realestateandhomes-search/32225/overview) which shows the average price per square foot in zip code 32225 is 143.00 per sq foot as Median Listing for the home value. The keywords are “average price”. Zip code 32225 also has low priced homes available that pull the “average” Median Listing Home value down… just like Atlantic Beach (Mayport Road communities) has lower-priced homes that effects the “Median Average” price down for the multi-million dollar oceanfront homes.

What we must understand as home-owners and buyers are that the average price terminology is based on the areas of the United States which represent both more affordable cities vs the higher cost of living cities. Cities like Detroit MI, Cleveland OH, Dayton OH, Lansing MI, Buffalo NY, Toledo OH, Akron Oh, vs Santa Cruz CA, or Seattle Wa, Miami FL, New York NY, Kahului HI. It’s likened to the average price in our local community and our local zip code. It really is just a tool to be utilized against us or for us based on rather we are selling or buying. What we should surmise is this: the average price for selling or buying a home means nothing! unless the average is based on our local area… and even the local average can be skewed by the local circumstances and events that have set the average selling price over the course of a few months and possibly years.

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