The market data from 4 similar recent sales in VISTA RIDGE points to a value of approximately $1,167,053. To sell within a reasonable timeframe at fair market value, the $1,031,000 to $1,041,000 range is where I'd position this. In the current VISTA RIDGE market with 7 similar homes available, this price represents the 3rd least expensive of 7 comparable homes on the market. The larger floor plan (245 sqft compared to the average comp) is a meaningful differentiator in this price range. At 0.27 acres, the lot is larger than the 0.22 acre comp average, which factors into pricing. With 7 similar homes currently listed in VISTA RIDGE (a buyer's market), competition is a factor to consider. In VISTA RIDGE, home values have fallen approximately 23% over the past 6 months. One of the strongest data points is 7115 Las Ventanas DR, Austin TX 78731, adjusting to $1,107,213; with a smaller floor plan. 4 comparable transactions in VISTA RIDGE 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
