After reviewing 4 recent transactions in LAKEWAY, I estimate this property's value at $1,296,641. A competitive list price for this home right now would fall in the $1,099,000 to $1,109,000 range. Relative to what's currently available in LAKEWAY, this home would be the 2nd most expensive of 7 comparable homes on the market. This home's larger footprint (782 sqft vs the comp average) plays a role in how the market prices it. The larger lot (0.52 acres versus the area average of 0.45) contributes to the valuation. With 7 similar homes currently listed in LAKEWAY (a balanced market), competition is a factor to consider. Prices in LAKEWAY have risen 4.9% over the last 6 months. A similar home at 713 Mariner, Lakeway TX 78734 carries an adjusted comparable value of $1,478,547, providing a strong data point. With 4 comparable sales in LAKEWAY, 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
