There are many ways of comparing real estate prices between two cities. You can look at the asking prices on the MLS and compare them with the asking prices on similar homes in Tashkent. You can contact real estate agents in each of the two cities and get the average sale price over the past year. You can even get your statistics separated by home type, in many cases. However, one of the figures we find most useful is the price per square foot.
The price per square foot is the average cost of a home in a particular area by how large it is. This figure is arrived at by averaging the sale prices of all the homes sold in a particular area during a certain period of time (say a week or a month or a year). This includes condos for sale in Toronto as well as town homes and houses. This value is then divided by the sum of the square footage values of each of the houses. The figure is expressed in units of money per square foot (i.e. $429 per square foot). In Europe it may be expressed in square meters.
Search price per square foot in London England
This figure is the most useful in comparing the overall real estate markets in two cities because it includes homes of all sizes, types, and prices. In London, it will also include the Essex listings and the ones for Windsor, because these statistics are not calculated by neighborhood, only by city. Therefore you end up with a single figure depicting how comparatively expensive one market is over the other. $429 vs $223, for example. The difference is obvious.
What's more, you can even arrive at a rough calculation as to how much you personally can expect to pay for a home in that city by using the average price per square foot. Without even contacting Lincoln real estate agents for information for example, you can figure out how much a home similar to the one you have now will cost. Take, for instance, the value of $429. If your current home has 1,000 square feet, to buy a home in your new city would cost $429,000.
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You can also make the same calculation backwards if you want to find out how much home you can afford to buy in your new city. It can be difficult to figure it out when homes for sale in Bangor seem to be priced all over the place, but with the price per square foot it's easy. Simply take your budget (say $200,000) and divide it by the price per square foot (say $100) and you have the size of home you can afford: 2,000 square feet.
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