Tommy Dobczyk uses price-per-square-foot to spot overpriced homes. Active listings average $427 per sq ft, but the only two recent sales on the street went for $435,000 and $383,000. The $383,000 sale, a larger home, had the lowest price-per-sq-ft in the market, suggesting competitive listings should price closer to that.
Chapters
We use a square foot price to really determine where we're at. And what we can see is that at $427 a square foot, they're a little bit, uh, on the high side for that age of house. And so these are all active listings. This is what they're up against trying to be sold. What actually sold are just these two properties right here, and they're literally on the same street as that one. So all the rest of these are just They're just ideas. They're not actual comps. And you can see over here that $435,000, $383,000. This $383,000 is literally lowest per square foot priced one on here, but it's also a larger home. It's still another 800 square feet larger. Right. And so the rest of these are still— this one is the second lowest one, the $427 a square foot. So for them to really work, it'd need to be closer to the $383,000 and that way it would, it would fit. With what, what is currently being sold in that area at that price.