1202 Newning Ave # 101, Austin TX 78704

Based on 4 closed sales in MADRID, the data points to a value around $370,029 for this home. Given current inventory and recent sales, the sweet spot for listing this home is $363,000 to $377,000. Relative to what's currently available in MADRID, this home would be the most expensive of 7 comparable homes on the market. At 118 sqft larger than the typical comp, the size difference factors into the valuation. Being built in 1966 (6 years older than comps) is factored into the value estimate. 7 similar homes are currently available in MADRID, creating a buyer's market for this price range. Market data shows 78704 prices fallen 7.9% over the last half year. The closest comparable sale, 2215 Post RD # 2070, Austin TX 78704 at an adjusted $311,026, 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