The market data from 3 similar recent sales in OLD TOWN CONDO REV points to a value of approximately $268,422. To sell within a reasonable timeframe at fair market value, the $511,000 to $526,000 range is where I'd position this. Against 7 similar active listings in OLD TOWN CONDO REV, this price point lands at the 2nd least expensive of 7 comparable homes on the market. At 217 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 7 comparable homes in OLD TOWN CONDO REV; a balanced 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 7400 Ophelia DR, Austin TX 78752, adjusting to $261,136; with a smaller floor plan. The 3 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