6 recent sales within a mile of this address suggest a current value of $3,193,166. My recommended list price range for this property would be $3,669,000 to $3,780,000. Against 3 similar active listings in SPANISH OAKS, this price point lands at the most affordable of 3 comparable homes on the market. This home's smaller footprint (215 sqft vs the comp average) plays a role in how the market prices it. The 1.05 acre lot (larger than the 0.98 acre average) is reflected in the estimate. Current inventory shows 3 comparable homes in SPANISH OAKS; a buyer's market based on recent absorption. In SPANISH OAKS, home values have fallen approximately 29.2% over the past 6 months. One of the strongest data points is 12625 Maidenhair LN # 27, Bee Cave TX 78738, adjusting to $3,476,575; with a larger floor plan and a pool. With 6 solid comps to draw from, the data tells a consistent story. Of course, without seeing the property in person, this is a data based estimate only.
Ed Neuhaus, Neuhaus Realty Group
