Price per square foot is a poor comparison tool here specifically because a new build's ceiling height, insulation and basement quality rarely match the pre-war and mid-century houses around it, so dividing price by floor area compares two different products rather than one.
New construction also carries the 5 percent federal goods and services tax, and a buyer should confirm whether the builder's quoted price includes it, along with whether landscaping, a deck and window coverings are part of the deal or an extra cost after possession.
Comparing a North Park new build against both recent infill sales and renovated resale homes nearby is what tells you whether the premium is measured or simply assumed. Get your hand-reviewed valuation from Joel Dyck.