In residential real estate, it is silly, and here is why.
Price per square is the best and only way to figure out the price of VACANT, UNIMPROVED office space. In residential real estate, that is not the case.
Homes have different levels of finish, individual quirks, different uses of the layouts, different paint, cabinets, floors, walls, construction quality, landscaping, location, etc. The list goes on forever.
A few years ago, agents started using it because it was easy for people to understand. It may be easy, but it makes no sense. You can’t bid on property A based on a per square footage number from property B.
The be-all-end-all is that any residential appraisal will never have the value based on a per square basis. That’s how property is truly valued.
If your agent is insisting on using it, maybe it is time for a new and more well-informed buyer broker that also gives you rebates over our flat fee! (Shameless plug) Let’s set a time to talk at arrivva.xyz