The market data from 4 similar recent sales in OLD TOWN CONDO REV points to a value of approximately $260,284. To sell within a reasonable timeframe at fair market value, the $255,000 to $265,000 range is where I'd position this. Against 2 similar active listings in OLD TOWN CONDO REV, this price point lands at the most affordable of 2 comparable homes on the market. At 195 sqft larger than the typical comp, the size difference factors into the valuation. The 1972 construction puts this home 5 years older than the comp average, a factor in the pricing. Current inventory shows 2 comparable homes in OLD TOWN CONDO REV; a seller's market based on recent absorption. In OLD TOWN CONDO REV, home values have risen approximately 5.3% over the past 6 months. One of the strongest data points is 2000 Millay DR, Austin TX 78752, adjusting to $242,672; with a smaller floor plan and a pool. The 4 comps used here provide a solid foundation for this valuation. Keep in mind, I have not personally inspected this property. The numbers are data driven, not firsthand. Questions about this property or this area? Reach out anytime.
Ed Neuhaus, Neuhaus Realty Group