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Well, we're in the middle of finding out the answers to this very question as we speak. Obviously there are many variables, including the following - Size of home - the larger the home, the less expensive per sq. ft.
Timing - Simple supply and demand. Currently (mid 2007) we have a down market. Subcontractors are looking for more work as new home development has decreased. Additionally, price materials have decreased considerably. You win. Region - Not all areas will see down markets simultaneously. Labor differs from region to region as well. Amenities and Features -9 ft. ceilings, coffered ceilings, fireplaces, architectural roofing, fine carpentry, hardwood floors, etc. all add up considerably. It really depends what you're planning on building. In the home that we are currently building, I will be installing the hardwood floors, saving us about $15,000. So... the answer to your question? Somewhere between $50 and $150 per sq. ft. I know you'd like a better estimate, but that's like asking "How much does Pizza weigh?". How big is it, what toppings, from which restaurant, etc. For what it's worth, we're looking at $70 per sq. ft. for our project outside of Chicago, during a great market period. This is for a 3,500 ft., 9 ft. ceiling, 3/4 brick 2 story. Last thing... include the cost of your time. You need to visit the site daily. I'm a writer, and am taking some time off to work on the project. I'm actually doing much of the labor, which allowed me to pull an extra 10% off the cost of most of the subcontractors. Hope this helps.

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Q: If you are acting as your own general contractor how much can you expect to pay on average per square foot to build a house?
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