Average New Home Construction Costs. Average new home construction costs are approximately $100 per square foot. State averages range from $75 to $130 dollars.These figures are somewhat deceptive though, as are all averages. Obviously as with all averages, some cost a lot more and some cost a lot less.Luxury home can cost over $800 per square foot, and even though these are not common, they drive up the average cost.tate averages range from $75 to $130 dollars. These figures are somewhat deceptive though, as are all averages. Obviously as with all averages, some cost a lot more and some cost a lot less. Luxury home can cost over $800 per square foot, and even though these are not common, they drive up the average cost.