Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $1,020,898. I'd recommend coming to market at $626,000 to $636,000 to strike the right balance between value and market velocity. In the current 78737 market with 7 similar homes available, this price represents the 2nd most expensive of 7 comparable homes on the market. At 129 sqft larger than the typical comp, the size difference factors into the valuation. The 1.00 acre lot (larger than the 0.63 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 2% in the past 6 months. 9943 Derecho DR, Austin TX 78737 nearby adjusts to $1,025,215; 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
