Based on what similar homes have actually sold for within a mile, I'd place this property's value at $811,005. I'd recommend coming to market at $375,000 to $385,000 to strike the right balance between value and market velocity. At this price, the property would be the most expensive of 3 comparable homes on the market comparable homes currently on the market in LA REATA RANCH. Being 1,758 sqft smaller than the average comparable sale in this area impacts the per square foot value. The 6.62 acre lot (smaller than the 7.20 acre average) is reflected in the estimate. 3 similar homes are currently available in LA REATA RANCH, creating a buyer's market for this price range. The trend in 78957 shows prices have risen 4.2% in the past 6 months. 236 Pony Express DR, Smithville TX 78957 nearby adjusts to $653,174; with a larger floor plan. With 3 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
