The market data from 7 similar recent sales in 78641 points to a value of approximately $958,130. To sell within a reasonable timeframe at fair market value, the $583,000 to $593,000 range is where I'd position this. With 5 comparable homes on the market in 78641, this price positions the property as the 2nd most expensive of 5 comparable homes on the market. Being 187 sqft smaller than the average comparable sale in this area impacts the per square foot value. At 1.10 acres, the lot is smaller than the 1.16 acre comp average, which factors into pricing. There are currently 5 similar homes on the market in 78641, ranging from $565,000 to $1,315,000. In 78641, home values have fallen approximately 5.9% over the past 6 months. One of the strongest data points is 8500 Lime Creek RD, Volente TX 78641, adjusting to $1,600,632; 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
