The comparable sales data (3 recent transactions in SPRING CONDO) supports an estimated value of $453,162. The data suggests a list price between $496,000 and $506,000 would attract qualified buyers without leaving money on the table. Relative to what's currently available in SPRING CONDO, this home would be the most affordable of 3 comparable homes on the market. Being built in 2007 (10 years older than comps) is factored into the value estimate. Lot size matters here: 0.00 acres versus 0.05 for the typical comp. The active market in SPRING CONDO includes 3 comparable homes priced from $490,000 to $550,000. Prices in SPRING CONDO have risen 96.1% over the last 6 months. A similar home at 501 West Ave # 1406, Austin TX 78701 carries an adjusted comparable value of $406,430, providing a strong data point. This estimate draws on 3 comparable sales, offering a reliable picture of market value. That said, this is a data only estimate. A walkthrough could change the picture. Want a detailed analysis for a home you're considering? I'm happy to help.
Ed Neuhaus