The market data from 7 similar recent sales in PRESERVE PH ONE points to a value of approximately $1,049,989. To sell within a reasonable timeframe at fair market value, the $1,111,000 to $1,258,000 range is where I'd position this. With 4 comparable homes on the market in PRESERVE PH ONE, this price positions the property as the 2nd least expensive of 4 comparable homes on the market. The 2005 construction puts this home 13 years older than the comp average, a factor in the pricing. At 4.35 acres, the lot is larger than the 0.60 acre comp average, which factors into pricing. There are currently 4 similar homes on the market in PRESERVE PH ONE, ranging from $949,000 to $2,250,000. In 78620, home values have fallen approximately 5.7% over the past 6 months. One of the strongest data points is 258 Brins WAY, Dripping Springs TX 78620, adjusting to $860,117; 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
