Larger Baton Rouge Homes Sell For Less Per Sq Ft, Example Kenilworth Subd
BATON ROUGE HOME BUYER LESSON: As a potential Baton Rouge home buyer, you should be aware of the fact that the market or buyers generally pay less per square foot for larger homes and that this is a general rule of thumb in real estate nationally. If you see a listing of a home in a subdivision where that home is much larger than the average home in a subdivision yet priced equivalent to the smaller homes, then you should be on guard about the pricing. Question the Agent you're working with about this situation as sometimes, Agents will list a home at what the seller wants versus what the market will support. Sometimes larger homes are priced based on sold price per sq. ft. of smaller homes in same subdivision, see Price Per Sq Ft And The Costco Principle. AND, sometimes a home is both larger than average as a result of an addition, an enclosure AND a major renovation where Agents are trying to price in a larger than average home, BUT one that's renovated as well.
And, before you make an offer on what you perceive as an over priced listing, I offer Baton Rouge Pre-Purchase Home Appraisals to make sure you don't overpay for Baton Rouge Housing.
This article is meant to show visually that larger homes in Baton Rouge Real Estate do sell for less per square foot than smaller homes, not necessarily why they do. I'm working on a detailed article on the "why" to be published later.
Kenilworth Subdivision Baton Rouge search parameters were from 01/01/2012 to 03/05/2014 for homes from 1610sf to 2358sf and comparing the sold price per square foot for homes sold over 2400sf. As can be seen below, the homes from 1610sf to 2358sf sold primarily in the $94/sf to $120sf/sf, most in that $104/sf to $116/sf range. The homes in the 2400sf to 3612sf range sold primarily in the $78/sf to $96/sf, most in the $78/sf to $90/sf range.
Conclusion: Larger homes over 2400sf generally sold for about $20/sf less (84/sf vs $107/sf) than smaller homes in Kenilworth Subdivision Baton Rouge LA 70808. The purpose of these charts is just to show larger homes do sell for less per square foot.
Greater Baton Rouge Real Estate Data Note:
Based on information from Greater Baton Rouge Association of REALTORS® / MLS for the period 01/01/2012 to 03/05/2014, extracted on 03/05/2014.