The market data from 3 similar recent sales in TRAVIS HEIGHTS points to a value of approximately $1,359,411. To sell within a reasonable timeframe at fair market value, the $953,000 to $963,000 range is where I'd position this. In the current TRAVIS HEIGHTS market with 7 similar homes available, this price represents the 3rd least expensive of 7 comparable homes on the market. The larger floor plan (270 sqft compared to the average comp) is a meaningful differentiator in this price range. The 1945 construction puts this home 6 years older than the comp average, a factor in the pricing. With 7 similar homes currently listed in TRAVIS HEIGHTS (a buyer's market), competition is a factor to consider. In TRAVIS HEIGHTS, home values have fallen approximately 21.6% over the past 6 months. One of the strongest data points is 1506 Chelsea LN, Austin TX 78704, adjusting to $1,081,294; with a smaller floor plan. The 3 comps used here provide a solid foundation for this valuation. Keep in mind, I have not personally inspected this property. The numbers are data driven, not firsthand. Questions about this property or this area? Reach out anytime.
Ed Neuhaus, Neuhaus Realty Group
