Based on what similar homes have actually sold for within half a mile, I'd place this property's value at $1,208,116. I'd recommend coming to market at $2,121,000 to $2,225,000 to strike the right balance between value and market velocity. With 7 comparable homes on the market in SOSA P, this price positions the property as the most affordable of 7 comparable homes on the market. The 1,671 sqft size difference versus comparable sales is reflected in the adjusted values. Built in 1934, this home is 58 years older than the average comp, which is reflected in the adjustments. Right now, 7 similar properties are competing for buyers in SOSA P, listed between $1,850,000 and $3,499,000. The trend in 78704 shows prices have fallen 3.8% in the past 6 months. 2423 S 5th ST, Austin TX 78704 nearby adjusts to $1,837,341; with a smaller floor plan and a pool. 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
