My analysis of 5 comparable properties puts this home's estimated value at $232,664. Based on how the local market is moving, a list price between $163,000 and $173,000 would position this home well. Buyers shopping in ELM CREEK right now would see this as a well positioned option among 3 comparable homes. The larger lot (0.19 acres versus the area average of 0.15) contributes to the valuation. Right now, 3 similar properties are competing for buyers in ELM CREEK, listed between $150,000 and $245,000. The 6 month price trend in ELM CREEK: fallen 1.7%. The best comp here is 18153 Basketflower BND, Elgin TX 78621 at an adjusted value of $229,860, a strong comparable. With 5 comparable sales in ELM CREEK, 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