10517 Lake Park DR, Dripping Springs TX 78620

Reviewing the most recent comparable transactions, this home's market value falls around $414,977. For a well positioned listing in MOUNTAIN CREEK LAKES, I'd target the $450,000 to $484,000 range. At this price, the property would be the most affordable of 5 comparable homes on the market comparable homes currently on the market in MOUNTAIN CREEK LAKES. The smaller floor plan (184 sqft compared to the average comp) is a meaningful differentiator in this price range. The 2005 construction puts this home 6 years older than the comp average, a factor in the pricing. Current inventory shows 5 comparable homes in MOUNTAIN CREEK LAKES; a buyer's market based on recent absorption. Recent trends in 78620 show home values have fallen 6.6% since 6 months ago. The most comparable recent sale is 10605 Creekwood CIR, Dripping Springs TX 78620, with an adjusted value of $428,116; with a larger floor plan. The 5 comps used here provide a solid foundation for this valuation. Keep in mind, I have not personally inspected this property. The numbers are data driven, not firsthand. Questions about this property or this area? Reach out anytime. Ed Neuhaus, Neuhaus Realty Group