1180 Red Town RD, Elgin TX 78621

The estimated value of this property is $406,392, based on 7 comparable sales in the surrounding area. In today's market, I'd bring this home to market somewhere between $281,000 and $291,000. With 7 comparable homes on the market in 78621, this price positions the property as the 2nd most expensive of 7 comparable homes on the market. Built in 1990, this home is 8 years older than the average comp, which is reflected in the adjustments. The 5.00 acre lot (larger than the 3.87 acre average) is reflected in the estimate. Current inventory shows 7 comparable homes in 78621; a buyer's market based on recent absorption. Recent trends in 78621 show home values have fallen 9.4% since 6 months ago. The most comparable recent sale is 471 Upper Elgin River RD, Elgin TX 78621, with an adjusted value of $527,580; a strong comparable. Based on 7 relevant data points in 78621, I'm comfortable with this estimate. Without stepping inside, I can only go by what the data shows. An in person look would tell the full story. Ed Neuhaus, Neuhaus Realty Group | Austin, TX