Can't believe that replacing is close to the cost of refinishing.
It is usually double in price. But this depends on the condition of the floors you currently have.
Straight is right....about double to three times at least in our metro atlanta market.
It's way more expensive to replace...it was about 3x more to replace than to refinish in our last house. We opted for the refinish of our red oak floors.
Refinishing covers about 1/3 the normal labor cost of a full (sand in place) install.
Replacing involves tearing out the old floor....installing new material...then sanding and finishing it. If a newer style "prefinished"material is used then that part is not required...so there the labor can be knocked down a little.
For any New install you also need to add in the cost of the new flooring itself. Depending on what you get this averages $4-5 per sq foot in materials.
Handys comment of 2-3 times cheaper for a refinish hold true for normal priced stock.
Thanks ~ ! for your responses for they've been very helpful.