Way too much and sounds oversized if you have even a little insulation.

I got my 1300 sq ft 2 level home (3 bed 1 bath) done in Nov for $17,000 (before the rebate). 30k btu outdoor unit, 3 indoor heads (1 large for the entire downstairs open floor plan, and one in each of the 2 main bedrooms). LGRed system. Likely should have a 4th for my small office ‘bedroom’ and maybe have gone for the 36000 btu, but still all is working extremely well. Only quote I got even close to that was going ducted heat pumps (we have no existing ductwork) and even that was only $30,000