After reviewing 4 recent transactions in FALCONHEAD, I estimate this property's value at $580,227. A competitive list price for this home right now would fall in the $607,000 to $630,000 range. Relative to what's currently available in FALCONHEAD, this home would be the most affordable of 5 comparable homes on the market. This home's smaller footprint (110 sqft vs the comp average) plays a role in how the market prices it. Current inventory shows 5 comparable homes in FALCONHEAD; a balanced market based on recent absorption. Prices in FALCONHEAD have fallen 10.6% over the last 6 months. A similar home at 4521 Pyrenees PASS, Bee Cave TX 78738 carries an adjusted comparable value of $586,460, providing a strong data point. With 4 comparable sales in FALCONHEAD, this estimate carries a reasonable degree of confidence. This estimate is based entirely on market data. An in person evaluation could refine it further.
Ed Neuhaus, Broker/Owner, Neuhaus Realty Group