Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $722,038. I'd recommend coming to market at $843,000 to $870,000 to strike the right balance between value and market velocity. With 5 comparable homes on the market in TRES VISTA, this price positions the property as the most affordable of 5 comparable homes on the market. The larger floor plan (107 sqft compared to the average comp) is a meaningful differentiator in this price range. The 1.50 acre lot (larger than the 0.24 acre average) is reflected in the estimate. Right now, 5 similar properties are competing for buyers in TRES VISTA, listed between $789,900 and $1,058,340. The trend in 78669 shows prices have fallen 14.8% in the past 6 months. 22112 Rock Wren RD, Spicewood TX 78669 nearby adjusts to $661,321; a strong comparable. Based on 7 relevant data points in TRES VISTA, 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