Median Price Per Square Foot
The median price per square foot is meant to level the playing field for price comparisons. Sometimes, homes cost more because simply because they’re bigger. So, by looking at the price per square foot, you will in theory get a more accurate comparison of various markets.
While the average median price per square foot for the cities provided came to just under $170 for the month, Boston blew that standard away. Its median price per square foot more than doubled that with a tag of $358 — and that was after a drop from its August number.
Leveling the playing field wasn’t enough for Detroit. The city is still stuck in dead last — again giving it the unwanted title of “worst” for three of the five categories (although not the same three categories as a month ago). In September, homes on the market were again listed at only $12 per square foot — a meager 7% of the average for all cities.