1301 Springlake DR, Dripping Springs TX 78620

The market data from 7 similar recent sales in SPRINGLAKE points to a value of approximately $448,635. To sell within a reasonable timeframe at fair market value, the $297,000 to $307,000 range is where I'd position this. At this price, the property would be the most expensive of 2 comparable homes on the market comparable homes currently on the market in SPRINGLAKE. The smaller floor plan (758 sqft compared to the average comp) is a meaningful differentiator in this price range. At 0.78 acres, the lot is smaller than the 2.56 acre comp average, which factors into pricing. The active market in SPRINGLAKE includes 2 comparable homes priced from $299,900 to $545,000. In 78620, home values have fallen approximately 6.2% over the past 6 months. One of the strongest data points is 251 Oak Grove DR, Dripping Springs TX 78620, adjusting to $620,433; with a larger floor plan. The 7 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