Pricing Your Condo for Sale

Attempting to pinpoint the value of a condominium is often much easier than valuating a house. This is generally because within a condo, there are likely identical or nearly identical units that have sold in your building. When determining the value of a condo, realtors and appraisers figure out the price per square foot of recent sales and use that as a benchmark when providing a value for your condo. For example, an 800 sqft condo may be worth $900 per square foot or $720,000.

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It's important to note:

Diminishing per square foot returns on size - the larger the condominium, the lower the cost per square foot. Each square foot becomes less valuable as there are more of them.