The prices of houses are all over the place right now. The craziest part to me is that the price doesn't always seem to make sense compared to the size, age, or current condition of the building. Everything is just priced really high, even tiny houses. It used to mean something if you said you were living in a $500,000 house. Now that could mean you actually live in a nice, big 2,600 square foot house with five bedrooms and three bathrooms. Or, it could mean you live in a considerably smaller house with only 1,900 square feet of space.

Price Per Square Foot Is A Determining Factor

The point is, your overall home value doesn't seem to mean anything anymore. But, if we break it down into how much each square foot of your house is worth based on the size of the home, then you'll easily see the differences. In the houses I mentioned earlier, the smaller house is $268 per square foot while the larger house is $201 per square foot. You'd pay $50 more per foot for the 700 square foot smaller (newer) house.

The median price pre square foot for homes in Twin Falls right now is $221, up from $196 in August already, and the size is 2,110 square feet. The median price per square foot in Boise is $267 and the median house size is much smaller than Twin Falls at 1,311 square feet.

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If you are looking for a home, the thing that is always constant is the question of do you want size, quality, or a mix of both.

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