5320 Balcones DR, Austin TX 78731

Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $184,368. I'd recommend coming to market at $179,000 to $190,000 to strike the right balance between value and market velocity. Against 7 similar active listings in 78731, this price point lands at the 2nd least expensive of 7 comparable homes on the market. Built in 1960, this home is 34 years older than the average comp, which is reflected in the adjustments. The 0.06 acre lot (smaller than the 0.09 acre average) is reflected in the estimate. With 7 similar homes currently listed in 78731 (a buyer's market), competition is a factor to consider. The trend in 78731 shows prices have fallen 15.3% in the past 6 months. 2209 Hancock DR # 15, Austin TX 78756 nearby adjusts to $205,437; 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