The market data from 7 similar recent sales in LAKEWAY points to a value of approximately $695,252. To sell within a reasonable timeframe at fair market value, the $692,000 to $712,000 range is where I'd position this. Against 4 similar active listings in LAKEWAY, this price point lands at the most expensive of 4 comparable homes on the market. The 2003 construction puts this home 8 years newer than the comp average, a factor in the pricing. Current inventory shows 4 comparable homes in LAKEWAY; a buyer's market based on recent absorption. In LAKEWAY, home values have fallen approximately 12% over the past 6 months. One of the strongest data points is 119 Crestview DR, Lakeway TX 78734, adjusting to $635,515; with a larger 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