Each month, I run a Summerville Real Estate Market Report showing the average price per square foot in Summerville, SC as well as the average sales price, days on the market and more. These Market Condition Reports help show how significantly the average price per square foot has risen over the years in Summerville. Notice the rise on the chart below over the last three years.
What Does "Price Per Square Foot" even mean?
I've had some clients ask what do you mean by "average price per square foot?" This is a term in the real estate community that is arrived at by taking the price of the home for sale in Summerville and dividing it by the amount of usable square footage. (Usable square footage includes the parts of the home that meet the requirements I wrote about over here How to Calculate the Square Footage of your Summerville Home. You are not counting things like your garage, unfinished areas, screen porches etc.) For example, if you have a home that is 2000 square feet and sells for $200,000, the price per square foot is $100.
The Average Price Per Square Foot around Summerville
While the average price per square foot in Summerville of $126 takes ALL of the homes for sale in Summerville into account, each community and area has its own feel, amenities and offerings.
- The older more established communities like Ashborough & Ashborough East run around $125-135/square foot.
- Gadsden Manor is a beautiful Summerville neighborhood in the heart of it all and within walking distance to downtown so its prices are closer to $140/square foot.
- The Historic District Homes are truly all over the board, but they average $163-200 square foot.
- The Golf course communities of Summerville that are located a little further out from the downtown area will run $125-135/square foot.
- The new master planned communities like Nexton and Summers Corner seem to have their own drum beat. Houses in those developments can go from $150 to $210 per square foot.
- Homes for sale in The Ponds come in closer to $125-$135.
- However, when you are looking at the 55+ communities in Summerville, like Carillon, Cresswind , Del Webb Nexton and Del Webb Charleston, they are going to run closer to $170-$200 because they have an amenity center, clubhouse, pools and an activities director.
Originally Posted at www.SummervilleRealEstate.wordpress.com