The estimated value of this property is $461,022, based on 7 comparable sales in the surrounding area. In today's market, I'd bring this home to market somewhere between $318,000 and $328,000. With 5 comparable homes on the market in CIRCLE, this price positions the property as the 2nd least expensive of 5 comparable homes on the market. The larger floor plan (252 sqft compared to the average comp) is a meaningful differentiator in this price range. The 0.87 acre lot (larger than the 0.80 acre average) is reflected in the estimate. With 5 similar homes currently listed in CIRCLE (a buyer's market), competition is a factor to consider. Recent trends in CIRCLE show home values have fallen 10.5% since 6 months ago. The most comparable recent sale is 125 Brahman CT, Bastrop TX 78602, with an adjusted value of $509,727; with a smaller floor plan. Based on 7 relevant data points in CIRCLE, 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
