After reviewing 3 recent transactions in 78620, I estimate this property's value at $612,799. A competitive list price for this home right now would fall in the $594,000 to $631,000 range. Relative to what's currently available in 78620, this home would be the most affordable of 2 comparable homes on the market. The smaller floor plan (124 sqft compared to the average comp) is a meaningful differentiator in this price range. The larger lot (1.00 acres versus the area average of 0.53) contributes to the valuation. 2 similar homes are currently available in 78620, creating a buyer's market for this price range. Prices in 78620 have fallen 5.4% over the last 6 months. A similar home at 14717 Crosscreek DR, Austin TX 78737 carries an adjusted comparable value of $766,276, providing a strong data point. With 3 comparable sales in 78620, 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
