The market data from 7 similar recent sales in NIMMO S SUR points to a value of approximately $404,370. To sell within a reasonable timeframe at fair market value, the $308,000 to $318,000 range is where I'd position this. At this price, the property would be the most expensive of 3 comparable homes on the market comparable homes currently on the market in NIMMO S SUR. At 10.01 acres, the lot is larger than the 1.76 acre comp average, which factors into pricing. There are currently 3 similar homes on the market in NIMMO S SUR, ranging from $317,900 to $585,000. In 78626, home values have fallen approximately 3.9% over the past 6 months. One of the strongest data points is 4481 Fm 971, Georgetown TX 78626, adjusting to $368,348; with a smaller 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
