Home Value Estimator
Home price from comparable sales $/sq ft.
What it does
Comparable sales price homes by the square foot. Three nearby sales at $240, $250, and $260 per sq ft average $250, pricing a 2,000 sq ft subject at $500,000 with a $480k-$520k range. Method beats gut pricing on every street.
The tool above runs the sales comparison core. Enter three comp prices with areas plus subject area, and it prints average $/sq ft, value, and range. Practice cases span $346,667 on 1,600 sq ft and $475,000 on 2,500.
Appraisal bodies define the method. The Appraisal Institute teaches comparable selection with quantitative analysis, assessing standards express residential value per square foot, and FHFA repeat-sales indexes track market moves across hundreds of cities. This page simplifies all three to averages.
Adjustments separate estimates from appraisals. Condition, age, lots, garages, and upgrades move real prices off raw $/sq ft means, and thin markets need more comps. Use this figure for orientation, then get an agent CMA or licensed appraisal.
How to use
- Enter three comp sale prices.
- Enter three comp areas.
- Enter the subject area.
- Read $/sq ft average first.
- Read the value, then range.
- Confirm with an agent CMA.
Formula
- prices
- Three comp sale prices in dollars.
- areas
- Three comp living areas in sq ft.
- subject
- Subject living area in sq ft.
Sales comparison approach per Appraisal Institute with per-sq-ft units per IAAO; FHFA repeat-sales tracks market moves.
Worked example
Example: $250 avg on 2,000 sq ft
Defaults: 240/250/260 comps, 2,000 sq ft subject.
- Inputs: comps $360k/1500, $375k/1500, $390k/1500; subject 2,000 sq ft.
- Rates: 240, 250, 260 per sq ft.
- Average: 750 / 3 = $250.
- Value: 250 x 2,000 = $500,000.
- Range: 480k to 520k. Tool shows $500,000.00.
Reference table
| Comps $/sq ft | Subject | Value |
|---|---|---|
| 240/250/260 | 2,000 | $500,000 |
| 200/220/230 | 1,600 | $346,667 |
| 180/190/200 | 2,500 | $475,000 |
Limits
- Simplified math only. No adjustments.
- Thin markets need more comps.
- Stale sales mislead fast markets.
- Not an appraisal or CMA.
Common mistakes
- One comp as the answer.
- Ignoring condition gaps.
- Stale sales in fast markets.
- Skipping lot and upgrade value.
- Listing off Zestimates alone.
Try it yourself
Quick checks. Answers sit tucked under each question.
300/330/345k on 1500s, subject 1,600?
Rates 200, 220, 230. Avg 216.67. Value 216.67 x 1,600 = $346,666.67. Range $320k-$368k.
270/285/300k on 1500s, subject 2,500?
Rates 180, 190, 200. Avg 190. Value 190 x 2,500 = $475,000. Range $450k-$500k.
Questions
How is value figured?
Average comp $/sq ft times subject sq ft. Here $250 x 2,000 = $500,000.
How is the range figured?
Min and max comp rates times subject: $480,000 to $520,000 here.
How many comps?
At least 3 recent nearby similar sales per appraisal practice.
Do adjustments matter?
Yes. Condition, age, lot, and upgrades adjust beyond raw $/sq ft.
Is this an appraisal?
Yes. This simplified estimator never replaces licensed appraisals or CMAs.
What about market trends?
Yes. FHFA tracks repeat-sales price moves across 400+ cities for trends.