The market data from 7 similar recent sales in STEINER RANCH points to a value of approximately $500,960. To sell within a reasonable timeframe at fair market value, the $583,000 to $591,000 range is where I'd position this. With 4 comparable homes on the market in STEINER RANCH, this price positions the property as the most affordable of 4 comparable homes on the market. At 278 sqft smaller than the typical comp, the size difference factors into the valuation. At 0.13 acres, the lot is smaller than the 0.16 acre comp average, which factors into pricing. With 4 similar homes currently listed in STEINER RANCH (a balanced market), competition is a factor to consider. In STEINER RANCH, home values have risen approximately 1.4% over the past 6 months. One of the strongest data points is 4141 Canyon Glen CIR, Austin TX 78732, adjusting to $470,992; a strong comparable. The 7 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