New Build PRICE PER SQUARE FOOT Estimate !???

[Hannah Simpson]

Hi! I'm a new investor and am looking to possibly build new on an empty lot. I've talked with 2 other investors from my area and each one has told me that price per sq. ft. to build new is about $120-200/sq. ft. That seems SO HIGH to me!? I trust these 2 individuals and do not doubt their numbers, but I am just wondering- is this how it is all over the U.S. right now for new builds? Is this low? Is this high? Do we think pricing is coming down soon?! Maybe it's because I am new, but that just seems like a lot to me! Any input is welcome. Thank you!  :) 😊