Based on what similar homes have actually sold for within a mile, I'd place this property's value at $532,175. I'd recommend coming to market at $264,000 to $274,000 to strike the right balance between value and market velocity. With 6 comparable homes on the market in BALCONES WEST, this price positions the property as the most expensive of 6 comparable homes on the market. Built in 1968, this home is 9 years older than the average comp, which is reflected in the adjustments. Right now, 6 similar properties are competing for buyers in BALCONES WEST, listed between $239,000 and $450,000. The trend in 78759 shows prices have risen 5.3% in the past 6 months. 8233 SUMMER SIDE DR # 172, Austin TX 78759 nearby adjusts to $284,273; with a smaller floor plan. With 6 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