Based on what similar homes have actually sold for within a mile, I'd place this property's value at $1,313,558. I'd recommend coming to market at $561,000 to $571,000 to strike the right balance between value and market velocity. Against 7 similar active listings in TOWN LAKE RESIDENCES CONDO, this price point lands at the 4th most expensive of 7 comparable homes on the market. Built in 2010, this home is 5 years older than the average comp, which is reflected in the adjustments. The active market in TOWN LAKE RESIDENCES CONDO includes 7 comparable homes priced from $538,999 to $2,495,000. The trend in 78701 shows prices have fallen 21.8% in the past 6 months. 222 West Ave # 3002, Austin TX 78701 nearby adjusts to $1,512,627; 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