The market data from 7 similar recent sales in LOST COVE points to a value of approximately $499,125. To sell within a reasonable timeframe at fair market value, the $550,000 to $581,000 range is where I'd position this. At this price, the property would be the 2nd least expensive of 6 comparable homes on the market comparable homes currently on the market in LOST COVE. Being 256 sqft larger than the average comparable sale in this area impacts the per square foot value. The 1993 construction puts this home 20 years older than the comp average, a factor in the pricing. 6 similar homes are currently available in LOST COVE, creating a buyer's market for this price range. In 78669, home values have fallen approximately 12% over the past 6 months. One of the strongest data points is 133 South CV, Spicewood TX 78669, adjusting to $502,816; with a smaller floor plan. 7 comparable transactions in LOST COVE 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
