1202 Newning Ave # 101, Austin TX 78704

Based on 3 closed sales in MADRID, the data points to a value around $382,196 for this home. Given current inventory and recent sales, the sweet spot for listing this home is $301,000 to $311,000. Relative to what's currently available in MADRID, this home would be the 2nd most expensive of 7 comparable homes on the market. Being built in 1966 (8 years older than comps) is factored into the value estimate. Lot size matters here: 0.03 acres versus 0.07 for the typical comp. 7 similar homes are currently available in MADRID, creating a buyer's market for this price range. Market data shows 78704 prices fallen 5.7% over the last half year. The closest comparable sale, 2215 Post RD # 2070, Austin TX 78704 at an adjusted $311,053, is a strong comparable. The strength of this estimate comes from 3 directly comparable sales in MADRID. 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