3845 Ranch Road 2222 # 1, Austin TX 78731

The market data from 3 similar recent sales in TERRACES points to a value of approximately $383,361. To sell within a reasonable timeframe at fair market value, the $266,000 to $276,000 range is where I'd position this. With 3 comparable homes on the market in TERRACES, this price positions the property as the most expensive of 3 comparable homes on the market. The larger floor plan (103 sqft compared to the average comp) is a meaningful differentiator in this price range. At 0.12 acres, the lot is larger than the 0.08 acre comp average, which factors into pricing. Current inventory shows 3 comparable homes in TERRACES; a balanced market based on recent absorption. In 78731, home values have risen approximately 5.6% over the past 6 months. One of the strongest data points is 5900 Mountainclimb DR # 1, Austin TX 78731, adjusting to $564,137; a strong comparable. 3 comparable transactions in TERRACES 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