1009 Lorrain, Austin TX 78703

Based on 7 closed sales in 78703, the data points to a value around $895,870 for this home. Given current inventory and recent sales, the sweet spot for listing this home is $493,000 to $503,000. This home's position in the current 78703 market: the 3rd most expensive of 7 comparable homes on the market among comparable properties. Being built in 1960 (21 years older than comps) is factored into the value estimate. Lot size matters here: 0.15 acres versus 0.01 for the typical comp. With 7 similar homes currently listed in 78703 (a buyer's market), competition is a factor to consider. Market data shows 78703 prices fallen 9.3% over the last half year. The closest comparable sale, 1101 Shoal Creek BLVD # 2, Austin TX 78701 at an adjusted $567,395, is a strong comparable. The strength of this estimate comes from 7 directly comparable sales in 78703. This is strictly a numbers based opinion. Condition, upgrades, and layout can shift value in ways data cannot capture. Have questions? I'm always available. Ed Neuhaus, Neuhaus Realty Group