After adjusting 7 comparable sales for differences in size, age, and features, this home's estimated value is $301,537. Pricing this home between $160,000 and $170,000 would put it in the competitive sweet spot for COTTAGES. Relative to what's currently available in COTTAGES, this home would be the most expensive of 3 comparable homes on the market. The smaller floor plan (415 sqft compared to the average comp) is a meaningful differentiator in this price range. Current inventory shows 3 comparable homes in COTTAGES; a buyer's market based on recent absorption. Market data shows 78727 prices fallen 8% over the last half year. The closest comparable sale, 4902 Duval RD # J1, Austin TX 78727 at an adjusted $240,000, is a strong comparable. With 7 comparable sales in COTTAGES, 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