Profile picture for caanonymous

Why does the price per sq ft vary so much in a single zip code/town?

How do lot size and improvements factor in to the asking price?  Or are people just deciding "I want $x for my house" regardless of comps?

In Davis I am seeing asking prices as low as 240 per sq ft to twice that and beyond.  I can't see much rhyme or reason to it - new houses are often at the low end while older unimproved are sometimes much more per sq foot.  I know location is important but it's it still seems random.
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March 30 2009 - Davis
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Answers (1)

Profile picture for Undone
Davis, California?
There are two sides of Davis - one is run down and where studens live, the other is filled with older people. I would imagine the inherent value in both sides would indeed vary significantly.

Value of the property aside, there's also the aspect of REOs versus FSBOs. People who are willingly trying to get out of a house are going to list for much higher than banks who just want to get rid of the property.
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March 30 2009
 
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