Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $710,471. I'd recommend coming to market at $455,000 to $465,000 to strike the right balance between value and market velocity. In the current GALILEO CONDO market with 7 similar homes available, this price represents the most expensive of 7 comparable homes on the market. Built in 2008, this home is 36 years newer than the average comp, which is reflected in the adjustments. The 0.01 acre lot (smaller than the 0.10 acre average) is reflected in the estimate. Buyers in GALILEO CONDO have 7 comparable options right now, with asking prices between $424,900 and $850,000. The trend in 78705 shows prices have fallen 11.7% in the past 6 months. 407 Towne Park TRL, Austin TX 78751 nearby adjusts to $565,582; 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