The estimated value of this property is $1,507,440, based on 7 comparable sales in the surrounding area. In today's market, I'd bring this home to market somewhere between $1,477,000 and $1,538,000. Among the similar homes currently available in RANCHES HAMILTON POOL PH TWO, this price point stands out as competitive. The larger floor plan (1,160 sqft compared to the average comp) is a meaningful differentiator in this price range. The 23.12 acre lot (larger than the 4.50 acre average) is reflected in the estimate. Current inventory shows 3 comparable homes in RANCHES HAMILTON POOL PH TWO; a buyer's market based on recent absorption. Recent trends in 78620 show home values have fallen 5.5% since 6 months ago. The most comparable recent sale is 111 High Plains DR, Dripping Springs TX 78620, with an adjusted value of $1,858,702; with a smaller floor plan. Based on 7 relevant data points in RANCHES HAMILTON POOL PH TWO, I'm comfortable with this estimate. Without stepping inside, I can only go by what the data shows. An in person look would tell the full story.
Ed Neuhaus, Neuhaus Realty Group | Austin, TX
