Average Price To Refinish Hardwood Floors. $1.50 per sq ft - $5.00 per sq ft. Average Price For New Hardwood Flooring Materials. Starts at $8.00 per sq ft and goes up from there. The price of a refinishing project is determined by the materials, the equipment used, and the number of hours of labor that it takes to perform the job. In general, for a basic refinishing job, it will take a contractor about 4-5 hours per 100 square feet of space. Hardwood Bedroom Flooring.