Based on what similar homes have actually sold for within half a mile, I'd place this property's value at $1,356,081. I'd recommend coming to market at $1,868,000 to $1,893,000 to strike the right balance between value and market velocity. Against 3 similar active listings in TIN LAKE HILLS, this price point lands at the most affordable of 3 comparable homes on the market. The larger floor plan (710 sqft compared to the average comp) is a meaningful differentiator in this price range. Built in 2008, this home is 5 years older than the average comp, which is reflected in the adjustments. There are currently 3 similar homes on the market in TIN LAKE HILLS, ranging from $1,695,000 to $2,199,000. The trend in TIN LAKE HILLS shows prices have fallen 7.1% in the past 6 months. 1401 Bowie RD, Austin TX 78733 nearby adjusts to $1,235,655; with a smaller floor plan. Based on 4 relevant data points in TIN LAKE HILLS, I'm comfortable with this estimate. Without stepping inside, I can only go by what the data shows. An in person look would tell the full story.
Ed Neuhaus, Neuhaus Realty Group | Austin, TX
