After reviewing 3 recent transactions in 78746, I estimate this property's value at $2,481,006. A competitive list price for this home right now would fall in the $2,431,000 to $2,531,000 range. Relative to what's currently available in 78746, this home would be the most affordable of 7 comparable homes on the market. Being 266 sqft larger than the average comparable sale in this area impacts the per square foot value. The larger lot (0.51 acres versus the area average of 0.48) contributes to the valuation. Current inventory shows 7 comparable homes in 78746; a buyer's market based on recent absorption. Prices in 78746 have fallen 5.1% over the last 6 months. A similar home at 5000 Jeffery PL, West Lake Hills TX 78746 carries an adjusted comparable value of $2,772,303, providing a strong data point. With 3 comparable sales in 78746, 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
