Based on what similar homes have actually sold for within a mile, I'd place this property's value at $418,684. I'd recommend coming to market at $448,000 to $474,000 to strike the right balance between value and market velocity. At this price, the property would be the most affordable of 3 comparable homes on the market comparable homes currently on the market in 78602. The smaller floor plan (120 sqft compared to the average comp) is a meaningful differentiator in this price range. The 1.01 acre lot (larger than the 0.89 acre average) is reflected in the estimate. The active market in 78602 includes 3 comparable homes priced from $469,000 to $649,000. The trend in 78602 shows prices have risen 0.2% in the past 6 months. 127 Eleanor LN, Bastrop TX 78602 nearby adjusts to $399,243; with a larger floor plan. Based on 3 relevant data points in 78602, 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
