My analysis of 3 comparable properties puts this home's estimated value at $310,261. Based on how the local market is moving, a list price between $327,000 and $331,000 would position this home well. Relative to what's currently available in SUMMERLYN PH L-1A, this home would be the 2nd most expensive of 3 comparable homes on the market. This home's smaller footprint (140 sqft vs the comp average) plays a role in how the market prices it. The larger lot (0.19 acres versus the area average of 0.15) contributes to the valuation. Buyers in SUMMERLYN PH L-1A have 3 comparable options right now, with asking prices between $325,000 and $424,525. The 6 month price trend in 78641: fallen 4.8%. The best comp here is 767 Hoot Owl LN, Leander TX 78641 at an adjusted value of $321,452, a strong comparable. The comp data here (3 sales in SUMMERLYN PH L-1A) gives us a clear read on this home's value. Important to note: this valuation is based on comparable sales data, not a physical inspection of the property.
Curious about your home's value? Get a free estimate here. Ed Neuhaus