Sale and contract prices per square foot in 2016

By Natalia Siniavaskaia | Eye on Housing

Looking at single-family homes started in 2016, the median prices per square foot, excluding improved lot values, range from $164 for contractor-built homes in the Pacific division to $81 for speculatively built homes in the East South Central division.

At $164 per square foot, new contractor-built single-family homes in Pacific are the most expensive to build exceeding the national average of $101 per square foot by more than 60%. Per square foot costs exclude the cost of developed lot, so highly variant land values cannot explain the regional differences in per square foot costs. However, higher and rising regulatory costs undoubtedly contribute to higher per square foot costs.

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