After reviewing 7 recent transactions in ISLAND, I estimate this property's value at $856,719. A competitive list price for this home right now would fall in the $726,000 to $736,000 range. Buyers shopping in ISLAND right now would see this as a well positioned option among 1 comparable homes. The 389 sqft size difference versus comparable sales is reflected in the adjusted values. The larger lot (0.72 acres versus the area average of 0.54) contributes to the valuation. Right now, 1 similar properties are competing for buyers in ISLAND, listed between $699,500 and $699,500. Prices in ISLAND have risen 24% over the last 6 months. A similar home at 518 Morgan Creek DR, Burnet TX 78611 carries an adjusted comparable value of $1,155,169, providing a strong data point. With 7 comparable sales in ISLAND, 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