Based on what similar homes have actually sold for within a mile, I'd place this property's value at $943,815. I'd recommend coming to market at $1,077,000 to $1,260,000 to strike the right balance between value and market velocity. Among the similar homes currently available in COLONY, this price point stands out as competitive. The 1,504 sqft size difference versus comparable sales is reflected in the adjusted values. Built in 2005, this home is 7 years older than the average comp, which is reflected in the adjustments. There are currently 2 similar homes on the market in COLONY, ranging from $1,250,000 to $1,490,000. The trend in COLONY shows prices have fallen 16.6% in the past 6 months. 105 Old Settlers DR, Bastrop TX 78602 nearby adjusts to $1,260,315; with a smaller floor plan. Based on 7 relevant data points in COLONY, 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