Based on what similar homes have actually sold for within a mile, I'd place this property's value at $1,997,348. I'd recommend coming to market at $1,528,000 to $1,538,000 to strike the right balance between value and market velocity. Against 7 similar active listings in 78734, this price point lands at the 4th most expensive of 7 comparable homes on the market. Being 260 sqft larger than the average comparable sale in this area impacts the per square foot value. Built in 2013, this home is 5 years newer than the average comp, which is reflected in the adjustments. With 7 similar homes currently listed in 78734 (a buyer's market), competition is a factor to consider. The trend in 78734 shows prices have fallen 10.7% in the past 6 months. 205 Palazza Alto DR, Austin TX 78734 nearby adjusts to $1,661,751; a strong comparable. Based on 7 relevant data points in 78734, 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
