Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $1,397,828. I'd recommend coming to market at $1,370,000 to $1,426,000 to strike the right balance between value and market velocity. In the current BOULEVARD HEIGHTS market with 7 similar homes available, this price represents the 4th most expensive of 7 comparable homes on the market. At 168 sqft smaller than the typical comp, the size difference factors into the valuation. Built in 1930, this home is 6 years older than the average comp, which is reflected in the adjustments. The active market in BOULEVARD HEIGHTS includes 7 comparable homes priced from $779,900 to $5,250,000. The trend in 78703 shows prices have risen 12.5% in the past 6 months. 2206 Parkway, Austin TX 78703 nearby adjusts to $1,628,977; with a larger floor plan. Based on 3 relevant data points in BOULEVARD HEIGHTS, 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
