Based on what similar homes have actually sold for within a mile, I'd place this property's value at $1,790,604. I'd recommend coming to market at $1,464,000 to $1,474,000 to strike the right balance between value and market velocity. At this price, the property would be the 3rd least expensive of 7 comparable homes on the market comparable homes currently on the market in WEST END HTS. The larger floor plan (315 sqft compared to the average comp) is a meaningful differentiator in this price range. Built in 1924, this home is 28 years older than the average comp, which is reflected in the adjustments. Right now, 7 similar properties are competing for buyers in WEST END HTS, listed between $1,750,000 and $3,350,000. The trend in 78703 shows prices have fallen 9.3% in the past 6 months. 902 Blanco ST, Austin TX 78703 nearby adjusts to $2,569,579; with a smaller floor plan. With 7 solid comps to draw from, the data tells a consistent story. Of course, without seeing the property in person, this is a data based estimate only.
Ed Neuhaus, Neuhaus Realty Group
