Looking at what buyers have actually paid for similar homes nearby, this property comes in at approximately $1,362,092. To generate strong buyer interest while maximizing value, I'd price this between $1,613,000 and $1,669,000. At this price, the property would be the 2nd least expensive of 7 comparable homes on the market comparable homes currently on the market in LAKEWAY. The larger floor plan (697 sqft compared to the average comp) is a meaningful differentiator in this price range. At 0.34 acres, the lot is smaller than the 0.38 acre comp average, which factors into pricing. With 7 similar homes currently listed in LAKEWAY (a buyer's market), competition is a factor to consider. The trend in LAKEWAY shows prices have fallen 15.9% in the past 6 months. 904 Challenger, Lakeway TX 78734 nearby adjusts to $1,266,150; with a smaller floor plan. 7 comparable transactions in LAKEWAY support the reliability of this estimate. As always, a data based estimate has its limits. Seeing the home in person is the best way to confirm value.
Ed Neuhaus, Broker/Owner | Neuhaus Realty Group
