401 Springwood RD, Dripping Springs TX 78620

The market data from 7 similar recent sales in SPRINGWOOD points to a value of approximately $1,208,656. To sell within a reasonable timeframe at fair market value, the $639,000 to $649,000 range is where I'd position this. In the current SPRINGWOOD market with 7 similar homes available, this price represents the 2nd most expensive of 7 comparable homes on the market. This home's larger footprint (168 sqft vs the comp average) plays a role in how the market prices it. At 3.45 acres, the lot is smaller than the 4.14 acre comp average, which factors into pricing. Current inventory shows 7 comparable homes in SPRINGWOOD; a buyer's market based on recent absorption. In 78620, home values have fallen approximately 6.3% over the past 6 months. One of the strongest data points is 611 A Post Oak DR, Dripping Springs TX 78620, adjusting to $1,562,176; with a larger floor plan and a pool. 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