After adjusting 7 comparable sales for differences in size, age, and features, this home's estimated value is $708,169. Pricing this home between $406,000 and $416,000 would put it in the competitive sweet spot for BLUE RIDGE. Relative to what's currently available in BLUE RIDGE, this home would be the most expensive of 7 comparable homes on the market. The larger floor plan (105 sqft compared to the average comp) is a meaningful differentiator in this price range. The larger lot (1.94 acres versus the area average of 1.32) contributes to the valuation. There are currently 7 similar homes on the market in BLUE RIDGE, ranging from $394,990 to $725,000. Market data shows 78620 prices fallen 6.7% over the last half year. The closest comparable sale, 1044 Sunset Canyon DR S, Dripping Springs TX 78620 at an adjusted $517,530, is a strong comparable. With 7 comparable sales in BLUE RIDGE, 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
