Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $867,421. I'd recommend coming to market at $698,000 to $708,000 to strike the right balance between value and market velocity. With 7 comparable homes on the market in 78750, this price positions the property as the 3rd most expensive of 7 comparable homes on the market. The 130 sqft size difference versus comparable sales is reflected in the adjusted values. Built in 2004, this home is 7 years newer than the average comp, which is reflected in the adjustments. There are currently 7 similar homes on the market in 78750, ranging from $650,000 to $1,025,000. The trend in 78750 shows prices have fallen 13% in the past 6 months. 11405 Cezanne CT, Austin TX 78726 nearby adjusts to $827,401; with a larger floor plan. Based on 4 relevant data points in 78750, 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
