Based on what similar homes have actually sold for within a mile, I'd place this property's value at $1,288,273. I'd recommend coming to market at $1,492,000 to $1,521,000 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 GARDEN OAKS. The 0.25 acre lot (larger than the 0.15 acre average) is reflected in the estimate. Right now, 7 similar properties are competing for buyers in GARDEN OAKS, listed between $1,075,000 and $2,050,000. The trend in GARDEN OAKS shows prices have fallen 23.5% in the past 6 months. 3100 S 5th ST # 1, Austin TX 78704 nearby adjusts to $953,359; a strong comparable. Based on 7 relevant data points in GARDEN OAKS, 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
