6205 Pennwood LN, Austin TX 78745

The market data from 7 similar recent sales in CHERRY CREEK points to a value of approximately $511,930. To sell within a reasonable timeframe at fair market value, the $561,000 to $616,000 range is where I'd position this. At this price, the property would be the 2nd most expensive of 3 comparable homes on the market comparable homes currently on the market in CHERRY CREEK. At 0.28 acres, the lot is larger than the 0.24 acre comp average, which factors into pricing. Current inventory shows 3 comparable homes in CHERRY CREEK; a balanced market based on recent absorption. In CHERRY CREEK, home values have fallen approximately 9.8% over the past 6 months. One of the strongest data points is 2303 Harwick DR, Austin TX 78745, adjusting to $447,684; a strong comparable. The 7 comps used here provide a solid foundation for this valuation. Keep in mind, I have not personally inspected this property. The numbers are data driven, not firsthand. Questions about this property or this area? Reach out anytime. Ed Neuhaus, Neuhaus Realty Group