Based on what similar homes have actually sold for within a mile, I'd place this property's value at $1,384,004. I'd recommend coming to market at $1,019,000 to $1,029,000 to strike the right balance between value and market velocity. With 4 comparable homes on the market in CIMARRON HILLS, this price positions the property as the 2nd most expensive of 4 comparable homes on the market. The larger floor plan (279 sqft compared to the average comp) is a meaningful differentiator in this price range. The 0.57 acre lot (larger than the 0.46 acre average) is reflected in the estimate. Current inventory shows 4 comparable homes in CIMARRON HILLS; a buyer's market based on recent absorption. The trend in CIMARRON HILLS shows prices have fallen 8.3% in the past 6 months. 509 Indigo LN, Georgetown TX 78628 nearby adjusts to $1,831,260; a strong comparable. Based on 7 relevant data points in CIMARRON HILLS, 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
