Based on what similar homes have actually sold for within half a mile, I'd place this property's value at $808,173. I'd recommend coming to market at $597,000 to $607,000 to strike the right balance between value and market velocity. In the current HILLS LAKEWAY market with 7 similar homes available, this price represents the 2nd most expensive of 7 comparable homes on the market. This home's smaller footprint (145 sqft vs the comp average) plays a role in how the market prices it. Built in 1987, this home is 7 years older than the average comp, which is reflected in the adjustments. There are currently 7 similar homes on the market in HILLS LAKEWAY, ranging from $595,000 to $995,000. The trend in HILLS LAKEWAY shows prices have fallen 8.5% in the past 6 months. 5 Valhalla CT, The Hills TX 78738 nearby adjusts to $711,425; with a smaller floor plan. Based on 7 relevant data points in HILLS LAKEWAY, 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