The market data from 4 similar recent sales in MORNINGSIDE points to a value of approximately $1,314,252. To sell within a reasonable timeframe at fair market value, the $1,275,000 to $1,354,000 range is where I'd position this. At this price, the property would be the 2nd least expensive of 4 comparable homes on the market comparable homes currently on the market in MORNINGSIDE. This home's larger footprint (165 sqft vs the comp average) plays a role in how the market prices it. The 2008 construction puts this home 11 years older than the comp average, a factor in the pricing. 4 similar homes are currently available in MORNINGSIDE, creating a balanced market for this price range. In MORNINGSIDE, home values have fallen approximately 9.3% over the past 6 months. One of the strongest data points is 5008 Avenue H Ave, Austin TX 78751, adjusting to $1,799,112; with a smaller floor plan. 4 comparable transactions in MORNINGSIDE 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
