Roofing contractors use roofing squares to determine the cost of your new roof. One roofing square measures out to 10' x 10' or 100 square feet. The average house is roughly 20 squares or 2,000 square feet.
Another determining factor is the cost of the materials. Here at Stellar Roofing, we use premium shingles such as 50-year architectural shingles. The average cost per square for premium shingles ranges between $500 to $785, or $10,000 to $15,700, for an average-sized roof of 20 squares.
Roof material price increases due to severe inventory shortages, initially caused by the early 2020 COVID-19 shutdown. This was compounded by high storm activity and extreme demand for new residential construction.
Roofing manufacturers have announced a price increase on January 1st for New Construction/Multifamily projects shortly followed by Residential/Reroof increase on February 1st.
When we take a look at the data collected over the years, we can see, on average, an increase in price for roof replacement. There are several factors that determine price increase by shingle manufactures. One such factor that is consistent no matter what the industry, is financial inflation. The cost of the dollar decreases in value, on average, 3.5% a year. Looking back at the past decade, waiting for a chance for the industry to catch up, and prices decrease, is a risky decision.
For a FREE estimate on your new roof, give us a call today or fill out our convenient online form. Experience our great customer service and see why we've earned an A+ rating from the Better Business Bureau.