After reviewing 7 recent transactions in MAAS, I estimate this property's value at $1,932,228. A competitive list price for this home right now would fall in the $1,894,000 to $1,971,000 range. Relative to what's currently available in MAAS, this home would be the most expensive of 7 comparable homes on the market. At 112 sqft larger than the typical comp, the size difference factors into the valuation. Having a pool is a plus; 5 of the 7 comps lacked one. With 7 similar homes currently listed in MAAS (a buyer's market), competition is a factor to consider. Prices in 78703 have fallen 3.5% over the last 6 months. A similar home at 1006 Elm ST, Austin TX 78703 carries an adjusted comparable value of $3,024,555, providing a strong data point. With 7 comparable sales in MAAS, this estimate carries a reasonable degree of confidence. This estimate is based entirely on market data. An in person evaluation could refine it further.
Ed Neuhaus, Broker/Owner, Neuhaus Realty Group
