Location, Location, Location & Price Per Square Foot

Interesting article in Housing Wire this morning.

How much money you need to buy a house in the US.....if you had $305,000 to spend.

These were their findings for 10 cities in our country:

1. Boston
   Median price per square foot: $1,160
   How much home $305,000 can buy: 263 square feet
2. New York
   Median price per square foot: $1,106
   How much home $305,000 can buy: 276 square feet
3. San Francisco
   Average price per square foot: $1,004
   How much home $305,000 can buy: 304 square feet
4. Los Angeles
   Average price per square foot: $646
   How much home $305,000 can buy: 472 square feet
5. Washington, D.C.
   Average price per square foot: $473
   How much home $305,000 can buy: 740 square feet
6. Seattle
   Average price per square foot: $454
   How much home $305,000 can buy: 672 square feet
7. Miami
   Average price per square foot: $313
   How much home $305,000 can buy: 974 square feet
8. Dallas
   Average price per square foot: $215
   How much home $305,000 can buy: 1,419 square feet
9. Chicago
   Average price per square foot: $193
   How much home $305,000 can buy: 1,580 square feet
10. Detroit
    Average price per square foot: $42
    How much home $305,000 can buy: 7,262 square feet

So, I did a quickie calculation for: 

Valencia (Santa Clarita Valley), CA

Average price per square foot in all of Valencia (I included Active, Pending, and Sold in last 30 days). Guess? Here ya go: $323.82/square foot. So you can buy approximately a 942 square foot house.

My first home was about that size. 2 bedroom, 1 bath in West Los Angeles. We added to it and, honestly can't remember the final square footage, but that's what we started with.

Don't feel like you can't get into the market. Just know that your first home will not be your last.

Questions? Call/Text me @ (661) 313-5470 ~ Email me @ Lauren@KeepYourWitz.com

Here to help.