Recently we had a client ask us to explain the different "square feet" measurements in the MLS and on real estate websites. Here's a bit more info to help you understand the differences between the measurements:
In the MLS
Real Estate Agents share their listings with each other (and the public) via local Multiple Listing Services (MLS). While all MLS systems are local, in the Denver area the MLS is called REColorado.
REColorado has adopted "standard" definititions for the data entered into their system. For Square Footage numbers, they are:
- Building Area Total (SqFt Total): All finished and unfinished square footage of the property, including all levels and the basement. The total area within the structure. Building Area Total includes only the primary building. This excludes garages, decks, etc.
- Living Area (SqFt Finished): All finished square footage of the property, including the basement if finished.
- Above Grade Finished Area (SqFt Above): Above grade and partially above grade finished square footage.
On other real estate websites
Most real estate websites derive their data from the MLS, so the square footage numbers should match up. The problem is that they sometimes use different terms to describe the numbers, or may only show 1 or 2 instead of all three. Usually these websites will show the "Total" and "Finished" square footage numbers.
The image shown here is Zillow's reporting of square footage for the same property shown above.
Where it gets confusing
So, we've defined the terms, but why don't the numbers always match up from source to source? The issue here is that when real estate agents input square footage measurements into MLS they can use three sources:
- The Assessor's Office (public records)
- A Past Appraisal
- Building Plans
Agents can also measure the home themselves if they have proper training, but this is pretty rare.
Unfortunately these numbers don't always match up. Generally all three will be pretty close, but sometimes they do vary by a couple hundred sq ft. An appraiser may measure the property differently than the builders did in their plans. When built, the home may have varied by a foot or two (which can add up when total square footage is concerned). Sometimes the Assessor's Office numbers are off - and I have no idea why.
With three sources to choose from, Agents will almost always use the largest number to include in marketing, as it may make the house stand out from the competition, unless they know the information to be inaccurate.
Still have questions? Reach out to Diana or Michael and we'd be happy to help explain further!