Based on what similar homes have actually sold for within a mile, I'd place this property's value at $641,167. I'd recommend coming to market at $615,000 to $931,000 to strike the right balance between value and market velocity. At this price, the property would be the most expensive of 4 comparable homes on the market comparable homes currently on the market in HIGHLAND. Being 612 sqft smaller than the average comparable sale in this area impacts the per square foot value. Built in 1950, this home is 39 years older than the average comp, which is reflected in the adjustments. Buyers in HIGHLAND have 4 comparable options right now, with asking prices between $575,000 and $649,000. The trend in HIGHLAND shows prices have fallen 2.6% in the past 6 months. 5011 W Frances PL, Austin TX 78731 nearby adjusts to $557,460; a strong comparable. 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