324 Broken Lance, Dripping Springs TX 78620

Reviewing the most recent comparable transactions, this home's market value falls around $797,366. For a well positioned listing in 78620, I'd target the $812,000 to $851,000 range. With 3 comparable homes on the market in 78620, this price positions the property as the 2nd most expensive of 3 comparable homes on the market. At 110 sqft smaller than the typical comp, the size difference factors into the valuation. The 2007 construction puts this home 5 years older than the comp average, a factor in the pricing. With 3 similar homes currently listed in 78620 (a buyer's market), competition is a factor to consider. Recent trends in 78620 show home values have fallen 5.7% since 6 months ago. The most comparable recent sale is 547 Broken Lance DR, Dripping Springs TX 78620, with an adjusted value of $725,061; with a larger floor plan. The 4 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