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How to calculate the price of land per square foot in 2024?

Price of land for sale per square foot.

When buying or selling land, the price of land per square foot is a key factor to consider.

Did you know that the price of the land is around 25% to 30% of the total cost of your real estate project? If the total budget is $400,000, your land should cost between $100,000 and $120,000.

If you are looking to buy or sell a piece of land, look no further! At Compare Real Estate Agents, our partner agents and brokers are experienced in buying and selling commercial, residential, or farmland.

In this article, we will present how to calculate the price of land per square foot in 2024, in addition to important factors to consider to get an accurate estimate.

Factors in calculating the price of land in Quebec

Calculating the price of land in Quebec can be a complex process that involves many factors. 

It is important to understand these key factors to be able to assess the terrain accurately and fairly. 

Here are the key factors that impact the price of land:

  • Location
  • Zoning
  • Ground condition
  • Constructability
  • Area
  • Accessibility to municipal services
  • Land topography
  • Soil quality
  • Presence of infrastructure
  • Market demand

The price of land is a given that cannot be based on guesswork! For this reason, it is recommended to consult real estate professionals to obtain an accurate and detailed estimate.

How to calculate the price of land in Quebec in 2024

Obtaining the price of land per square foot is a relatively simple calculation! Let’s break it down:

Cost of the Land / Number of square feet = Price per square foot

Does this seem like a daunting task? Not really!

The calculation of the unit price does not require in-depth knowledge. However, the estimation of the total price of the land requires expertise. When it comes to the price per square foot, it’s how you use that data that matters. 

Why calculate the price of land per square foot?

  • This information is useful for land owners looking to sell their property or for potential buyers looking to assess the purchase price of land.
  • It makes it easy to compare the price of multiple pieces of land. For example, two lots with different square footage may appear to have very different prices, but a square foot comparison may reveal that the two lots are priced similarly.
  • It can help buyers negotiate the price of land. This information can be used to estimate the fair price of land and thus negotiate with the seller with confidence.

There is no doubt, in any transaction, the price per square foot is an essential tool! 

Did you know that according to the latest data, the average price of land per square foot in Quebec is around $20 to $25? In fact, depending on the region and the quality of the land, prices can vary from $10 per square foot to $180 per square foot. This is valuable data that should not be overlooked in order to trade at the right price.

Would you like to estimate the cost of your land? Fill out the form on this page to connect with experienced professionals in your area, free of charge.

Professionals for assessing the market value of your land

Professional help for assessing the value of land.

In Quebec, to assess the value of your land, you can consult two real estate professionals. 

A certified appraiser

A chartered appraiser is a professional who is trained to estimate the market value of real estate, including land, using different appraisal methods. 

In Quebec, chartered appraisers are regulated by the Order of Chartered Appraisers of Quebec.

The role of a chartered appraiser is to make an objective and impartial assessment of the value of a real estate property. This appraisal is generally used to determine the value of land before a sale, for estate planning purposes or for a request for mortgage financing.

A real estate broker

A real estate broker, on the other hand, is a professional who helps buyers and sellers complete real estate transactions, including the purchase or sale of land.  Real estate brokers are regulated by the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ). The role of a real estate broker is to advise clients on market prices, real estate trends, real estate negotiations, contracts, and settlements. Real estate brokers can also help clients find land and properties to buy or sell. Whether you are the seller or the buyer, doing business with a professional to assess the value of a piece of land is important for several reasons: 
  • Accuracy and objectivity
  • Neutrality and impartiality
  • Adherence to strict professional standards
  • Savings in time and money
Entrusting the appraisal to an expert is a smart way of maximizing profit or help you to save on the purchase price and avoid costly mistakes.  

Mistakes to avoid when calculating the price of land in 2024

Avoid mistakes when calculating land price.

Some common mistakes should be avoided to get a fair and accurate estimate for the price of land. These include the following:

  • Disregarding the characteristics of the terrain.

  • Failing to consider maintenance costs.

  • Failing to take into account the ratio of land cost versus your total budget.

  • Use inappropriate terrain comparisons.

  • Not consulting a professional for the calculation of the price of land per square foot.

Avoid these mistakes to get an accurate estimate for the cost of your land or property.

Land for sale: Explore investment opportunities across Quebec!

Calculating the price of land per square foot is a crucial step in the process of buying or selling any property.

By exploring investment opportunities across Quebec, you can discover interesting and profitable land for sale for your project.

Don’t forget to call on a certified appraiser or a real estate broker to obtain a fair and precise assessment of the market value of your land.

Fill out the short online form below to receive offers from 3 real estate brokers in your area, free of charge! They will be happy to help you buy or sell your property!

Whether you are selling or buying land, you will be a winner when you choose qualified professionals to help you with your project.


Buying or selling a property has a direct impact on your budget and your quality of life. This is why it is so important to have the right person assisting you. Use our service to find a real estate professionnal who truly meets your expectations.

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