Sale price per sqare foot question in Rosemary Beach

**Moneybags** · 01-24-2011, 11:33 AM

Sale price per sq foot question - take heated and cooled space plus 1/2 of covered decks, porches ??? Rosemary under $250 psf a slam dunk, good, or just all heading there ???

**DuneAHH** · 01-24-2011, 12:13 PM

It's all relative.

IMO - $PSF is a fairly useless factor. Even if you're building a house, $PSF is still all relative depending on the plethora of factors.

A nice little house (less than 10yrs old) in my neighborhood sold at bank auction for approx. $52,000 (apprx. $33/sf.) That's a mere fraction of what it would take to build that house... going back probably 4-5 DECADES.

Is that a good deal? Again, it's all relative.

**Lisa Ruby** · 01-24-2011, 01:26 PM

Originally Posted by Moneybags

Sale price per sq foot question - take heated and cooled space plus 1/2 of covered decks, porches ??? Rosemary under $250 psf a slam dunk, good, or just all heading there ???

New construction or existing home? It sounds like an amazing deal to me, depending on finishes.

**Murray Balkcom** · 01-24-2011, 03:55 PM

Condo or home? Carriage house or full house? Big house or small house? As mentioned above, all will effect price per sq foot. When determining a good buy, price per sq foot is seldom used as the sole factor. It works better when comparing identical condos, but not in diverse construction and location like you have in Rosemary Beach.

The average price per sq foot for the two homes sold in January 2011, in Rosemary Beach, sold at an average price per sq foot of $895. In all of 2010, the homes sold in Rosemary averaged $417/sq ft on the selling price.

Again, don't rely solely on price per sq foot to determine whether or not this is a good deal. By the way, the prices/sq foot I'm quoting are for heated/cooled sq footage only. Not for courtyard, and unconditioned space. I'm not sure why you are using the figure of half the unconditioned space as it would be a PITA to track prices.

**Moneybags** · 01-24-2011, 04:33 PM

Originally Posted by Murray Balkcom

Condo or home? Carriage house or full house? Big house or small house? As mentioned above, all will effect price per sq foot. When determining a good buy, price per sq foot is seldom used as the sole factor. It works better when comparing identical condos, but not in diverse construction and location like you have in Rosemary Beach.

The average price per sq foot for the two homes sold in January 2011, in Rosemary Beach, sold at an average price per sq foot of $895. In all of 2010, the homes sold in Rosemary averaged $417/sq ft on the selling price.

Again, don't rely solely on price per sq foot to determine whether or not this is a good deal. By the way, the prices/sq foot I'm quoting are for heated/cooled sq footage only. Not for courtyard, and unconditioned space. I'm not sure why you are using the figure of half the unconditioned space as it would be a PITA to track prices.

what does PITA mean? I agree regarding the limitations of a psf price - I guess I got that formula from a builder years ago regarding estimates of costs - so is the standard to use only heated and cooled space ? If so I just revised to 275 psf - I am referring to a smaller house

**scooterbug44** · 01-24-2011, 04:40 PM

PITA - pain in the arse

Everyone figures things differently, but $250 per SF actually IN Rosemary Beach sounds pretty good to me.

But I don't know your finances, your plans, the property details, etc.

**tralman** · 01-24-2011, 05:38 PM

South of 30a-outstanding
North of 30a-very strong
I am assuming unfurnished, too. Pay attention to murray's recent psf analysis on this post and others-he knows what he is talking about.

**Busta Hustle** · 01-28-2011, 11:04 AM

Originally Posted by Moneybags

Sale price per sq foot question - take heated and cooled space plus 1/2 of covered decks, porches ??? Rosemary under $250 psf a slam dunk, good, or just all heading there ???

855, 778, 697, 548, 417...if you just want to look at average per square foot prices on sold homes since 2006

**Smiling JOe** · 01-28-2011, 11:20 AM

Does this square foot price formula value the lot outside of the formula?

**Moneybags** · 01-28-2011, 08:08 PM

Originally Posted by Smiling JOe

Does this square foot price formula value the lot outside of the formula?

No it did not - I guess I see the flaw there - it seems consensus is that only heated and cooled space is usually used - but nice balconies and decks add value - I know an appraisal would show a seperate value for land, bldg, and then improvements but wanted to just use a simple calculation - thanks for any and all thoughts ...