The market data from 3 similar recent sales in 78703 points to a value of approximately $2,356,344. To sell within a reasonable timeframe at fair market value, the $1,495,000 to $1,505,000 range is where I'd position this. Against 6 similar active listings in 78703, this price point lands at the 2nd most expensive of 6 comparable homes on the market. At 378 sqft smaller than the typical comp, the size difference factors into the valuation. The 2013 construction puts this home 5 years older than the comp average, a factor in the pricing. Current inventory shows 6 comparable homes in 78703; a buyer's market based on recent absorption. In 78703, home values have risen approximately 7.1% over the past 6 months. One of the strongest data points is 2101 Pecos ST, Austin TX 78703, adjusting to $2,587,838; a strong comparable. 3 comparable transactions in 78703 support the reliability of this estimate. As always, a data based estimate has its limits. Seeing the home in person is the best way to confirm value.
Ed Neuhaus, Broker/Owner | Neuhaus Realty Group
