The market data from 3 similar recent sales in BELVEDERE points to a value of approximately $1,131,241. To sell within a reasonable timeframe at fair market value, the $1,566,000 to $1,629,000 range is where I'd position this. Among the similar homes currently available in BELVEDERE, this price point stands out as competitive. This home's smaller footprint (238 sqft vs the comp average) plays a role in how the market prices it. At 1.24 acres, the lot is larger than the 1.11 acre comp average, which factors into pricing. Right now, 4 similar properties are competing for buyers in BELVEDERE, listed between $1,099,000 and $2,250,000. In 78738, home values have fallen approximately 5.5% over the past 6 months. One of the strongest data points is 8716 Bellancia DR, Austin TX 78738, adjusting to $1,628,649; with a larger floor plan and a pool. 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