Based on what similar homes have actually sold for within half a mile, I'd place this property's value at $453,813. I'd recommend coming to market at $481,000 to $483,000 to strike the right balance between value and market velocity. With 6 comparable homes on the market in FOREST CREEK, this price positions the property as the 3rd least expensive of 6 comparable homes on the market. The smaller floor plan (147 sqft compared to the average comp) is a meaningful differentiator in this price range. With 6 similar homes currently listed in FOREST CREEK (a buyer's market), competition is a factor to consider. The trend in FOREST CREEK shows prices have fallen 26% in the past 6 months. 3836 Harvey Penick DR, Round Rock TX 78664 nearby adjusts to $536,616; with a larger floor plan. 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