311 W 5th ST # 706, Austin TX 78701

Based on what similar homes have actually sold for within half a mile, I'd place this property's value at $546,079. I'd recommend coming to market at $375,000 to $385,000 to strike the right balance between value and market velocity. With 7 comparable homes on the market in 78701, this price positions the property as the most expensive of 7 comparable homes on the market. Built in 2002, this home is 5 years older than the average comp, which is reflected in the adjustments. 7 similar homes are currently available in 78701, creating a buyer's market for this price range. The trend in 78701 shows prices have fallen 23.9% in the past 6 months. 360 Nueces ST # 3207, Austin TX 78701 nearby adjusts to $511,910; with a smaller floor plan. Based on 7 relevant data points in 78701, 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