The estimated value of this property is $220,101, based on 7 comparable sales within half a mile. In today's market, I'd bring this home to market somewhere between $152,000 and $162,000. With 5 comparable homes on the market in HEATHERWOOD CONDO, this price positions the property as the most expensive of 5 comparable homes on the market. The smaller floor plan (426 sqft compared to the average comp) is a meaningful differentiator in this price range. Built in 1984, this home is 12 years newer than the average comp, which is reflected in the adjustments. Current inventory shows 5 comparable homes in HEATHERWOOD CONDO; a buyer's market based on recent absorption. Recent trends in 78745 show home values have fallen 4.5% since 6 months ago. The most comparable recent sale is 5616 Emerald Forest DR # 101, Austin TX 78745, with an adjusted value of $133,710; with a larger floor plan. Based on 7 relevant data points in HEATHERWOOD CONDO, I'm comfortable with this estimate. Without stepping inside, I can only go by what the data shows. An in person look would tell the full story.
Ed Neuhaus, Neuhaus Realty Group | Austin, TX
