After reviewing 3 recent transactions in SUMMIT WEST RIM, I estimate this property's value at $3,690,066. A competitive list price for this home right now would fall in the $5,430,000 to $6,465,000 range. This would position the home competitively among 6 active listings in SUMMIT WEST RIM. The 956 sqft size difference versus comparable sales is reflected in the adjusted values. At 5 years newer than typical comps, the 2006 build date influences the valuation. Current inventory shows 6 comparable homes in SUMMIT WEST RIM; based on recent absorption. Prices in SUMMIT WEST RIM have fallen 13.3% over the last 6 months. A similar home at 4320 River Garden TRL, Austin TX 78746 carries an adjusted comparable value of $3,846,909, providing a strong data point. With 3 comparable sales in SUMMIT WEST RIM, this estimate carries a reasonable degree of confidence. This estimate is based entirely on market data. An in person evaluation could refine it further.
Ed Neuhaus, Broker/Owner, Neuhaus Realty Group
