Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $1,059,865. I'd recommend coming to market at $698,000 to $708,000 to strike the right balance between value and market velocity. In the current 78737 market with 7 similar homes available, this price represents the 3rd most expensive of 7 comparable homes on the market. The 1.00 acre lot (larger than the 0.74 acre average) is reflected in the estimate. 7 similar homes are currently available in 78737, creating a balanced market for this price range. The trend in 78737 shows prices have risen 0.9% in the past 6 months. 9943 Derecho DR, Austin TX 78737 nearby adjusts to $1,024,612; with a smaller floor plan. 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