My analysis of 7 comparable properties puts this home's estimated value at $466,268. Based on how the local market is moving, a list price between $381,000 and $391,000 would position this home well. Relative to what's currently available in CYPRESS CANYON, this home would be the 3rd most expensive of 7 comparable homes on the market. This home's smaller footprint (400 sqft vs the comp average) plays a role in how the market prices it. The smaller lot (0.14 acres versus the area average of 0.17) contributes to the valuation. Right now, 7 similar properties are competing for buyers in CYPRESS CANYON, listed between $388,000 and $545,000. The 6 month price trend in CYPRESS CANYON: fallen 12.1%. The best comp here is 2902 Etta James CV, Cedar Park TX 78613 at an adjusted value of $496,112, with a pool. With 7 comparable sales in CYPRESS CANYON, 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
