Price per square foot
The price divided by the home's finished living area. It is a quick way to compare homes, but condition, lot, and location can make it misleading on its own.
Also called: $/sqft, price per sq ft, PPSF
Related terms
The finished, above-grade living space of a home. Basements and garages are usually listed separately, which is why square footage can differ between sources.
Recently sold homes near the subject property that are similar in size, age, and features. Appraisers and agents use them to estimate value.
The price the seller advertises the home for. It is a starting point for negotiation, and the final sale price can be above or below it.
An agent's estimate of a home's likely sale price based on recent nearby sales and current listings. It guides list prices and offers but is not an appraisal.
Dollar amounts an appraiser adds to or subtracts from a comp's price to account for differences like an extra bedroom, a garage, or a pool.