1202 Newning Ave # 101, Austin TX 78704

Based on 4 closed sales in MADRID, the data points to a value around $336,795 for this home. Given current inventory and recent sales, the sweet spot for listing this home is $330,000 to $344,000. Relative to what's currently available in MADRID, this home would be the most expensive of 7 comparable homes on the market. At 151 sqft larger than the typical comp, the size difference factors into the valuation. Lot size matters here: 0.03 acres versus 0.06 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 2% over the last half year. The closest comparable sale, 2215 Post RD # 2070, Austin TX 78704 at an adjusted $311,000, is a strong comparable. The strength of this estimate comes from 4 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