Tuesday
July 29, 2014

Where Cost Per Square Foot is Skyrocketing

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Where Cost Per Square Foot is Skyrocketing

The list price per square foot is gaining in many areas, rising to $181 in June, according to real estate brokerage Movoto’s national housing report. 

The increase in list price per square foot was the most dramatic in Sacramento, where it rose from $91 per square foot in June 2012 to $153 per square foot last month—about a 68 percent increase. 

The following cities have seen the largest year-over-year increases (June 2012 to June 2013) in price per square footage:

  • Sacramento: $153 (a 68.1 percent year-over-year increase)
  • Phoenix: $126 (+44.8% year-over-year)
  • Oakland, Calif.: $304 (+37.6% year-over-year)
  • Mesa, Ariz.: $118 (+37.2% year-over-year)
  • Los Angeles: $435 (+28.3% year-over-year)
  • Long Beach, Calif.: $342 (+26.2% year-over-year)
  • Las Vegas: $105 (+22.1% year-over-year)
  • San Diego: $359 (+20.1% year-over-year)
  • Boston: $468 (+19.1% year-over-year)
  • Jacksonville, Fla.: $90 (+18.4% year-over-year)
  • Atlanta: $148 (+18.4% year-over-year) 

The only two cities to see a decrease in price per square foot were Chicago and New Orleans, according to Movoto. 

Source: “Increased inventory raises price per square foot,” HousingWire (July 2, 2013)

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