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Home Price Offer. Denise and Kenny are ready to make an offer on a(n) 1,700-square-foot home...

Home Price Offer. Denise and Kenny are ready to make an offer on a(n) 1,700-square-foot home that is priced at $152,200. They investigate other homes on lots of similar size and find the following information.

A(n) 2,267-square-foot home sold for $189,404
A(n) 1,417-square-foot home sold for $120,069
A(n) 1,039-square-foot home sold for $89,065

What offer should they make on the home?

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Answer #1
Sq. foot Price Price per Sq. ft
2267 $      189,404 $           83.55
1417 $      120,069 $           84.73
1039 $         89,065 $           85.72
$        254.00
Divided by 3
Average price per Sq ft $      84.6683
× sq ft of proposed home               1,700
Offer price $ 143,936.05

Offer price is $143,936.05

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