The market data from 7 similar recent sales in HOMEWOOD HEIGHTS points to a value of approximately $793,470. To sell within a reasonable timeframe at fair market value, the $516,000 to $526,000 range is where I'd position this. Among the similar homes currently available in HOMEWOOD HEIGHTS, this price point stands out as competitive. At 115 sqft smaller than the typical comp, the size difference factors into the valuation. The 2014 construction puts this home 7 years older than the comp average, a factor in the pricing. With 5 similar homes currently listed in HOMEWOOD HEIGHTS (a buyer's market), competition is a factor to consider. In 78702, home values have fallen approximately 6.7% over the past 6 months. One of the strongest data points is 1106 Fiesta ST, Austin TX 78702, adjusting to $706,705; with a larger floor plan. 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
