Based on what similar homes have actually sold for within a mile, I'd place this property's value at $1,136,266. I'd recommend coming to market at $776,000 to $786,000 to strike the right balance between value and market velocity. Against 4 similar active listings in DAKOTA MOUNTAIN ESTATES, this price point lands at the most expensive of 4 comparable homes on the market. The larger floor plan (360 sqft compared to the average comp) is a meaningful differentiator in this price range. Built in 2007, this home is 5 years newer than the average comp, which is reflected in the adjustments. With 4 similar homes currently listed in DAKOTA MOUNTAIN ESTATES (a buyer's market), competition is a factor to consider. The trend in 78620 shows prices have fallen 8.4% in the past 6 months. 226 Hudson LN, Dripping Springs TX 78620 nearby adjusts to $1,011,973; with a smaller floor plan and a pool. Based on 4 relevant data points in DAKOTA MOUNTAIN ESTATES, 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
