Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $1,242,119. I'd recommend coming to market at $1,205,000 to $1,279,000 to strike the right balance between value and market velocity. In the current BOULEVARD HEIGHTS market with 5 similar homes available, this price represents the 3rd most expensive of 5 comparable homes on the market. Built in 1930, this home is 9 years older than the average comp, which is reflected in the adjustments. The 0.21 acre lot (larger than the 0.17 acre average) is reflected in the estimate. The active market in BOULEVARD HEIGHTS includes 5 comparable homes priced from $1,245,000 to $1,799,950. The trend in 78703 shows prices have risen 9.7% in the past 6 months. 1614 Preston Ave, Austin TX 78703 nearby adjusts to $1,180,869; 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
