Based on what similar homes have actually sold for within a mile, I'd place this property's value at $252,072. I'd recommend coming to market at $143,000 to $153,000 to strike the right balance between value and market velocity. Against 6 similar active listings in 2020 CONGRESS CONDO, this price point lands at the 3rd most expensive of 6 comparable homes on the market. The 208 sqft size difference versus comparable sales is reflected in the adjusted values. Built in 1964, this home is 20 years older than the average comp, which is reflected in the adjustments. 6 similar homes are currently available in 2020 CONGRESS CONDO, creating a buyer's market for this price range. The trend in 78704 shows prices have fallen 5.1% in the past 6 months. 2020 S Congress Ave # 2213, Austin TX 78704 nearby adjusts to $230,915; with a larger 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