Lake Travis Luxury Waterfront Homes are as unique as the lake, itself. The analysis below considers the entire inventory of waterfront homes listed or sold above $750,000. That includes Volente Beach, Lakeway, Lago Vista, Jonestown, Briarcliff and everything in between. So you’re saying to yourself, “But I’ve always heard that homes on the South Shore of Lake Travis typically sell for more than homes on the North Shore of Lake Travis.” Well…you wouldn’t be entirely wrong. So, we are also going to give you a brief look at the past 12 months for each sub-market onLakeTravis.
Lake Travis Luxury Waterfront Market Overview
Due to the price point in this luxury market, you’ll find that the amount of inventory is higher than the Austin Average. Over the past 12 months the inventory of luxury waterfront homes has ranged from 13 months to 36 months. These dramatic swings happen when you have a product that only fits the criteria of a specific buyer. The statistic to consider is the average days on market ranging from 190 to 300. This is a more realistic picture of what to expect when your home is priced correctly, staged correctly and marketed by a full-time REALTOR®.
Lake Travis Luxury Waterfront Homes – Submarket Analysis
When looking at the different submarkets that exist onLake Travis, there are two main submarkets and two minor submarkets. The two main submarkets are listed as Lake South (predominately occupied by the City of Lakeway) and Lake North (predominately occupied by the City of Lago Vista). Below are the statistics for all four submarkets for the past 12 months.
LAKE SOUTH (LS): LAKE NORTH (LN)
Current Homes Available: 26 Current Homes Available:21
Homes Sold in Past 12 Months: 18 Homes Sold in Past 12 Months: 10
Months Worth of Inventory: 17.33 Months Worth of Inventory: 25.20
Average List Price:$1,542,233 Average List Price: $1,210,700
Average Sales Price: $1,463,923 Average Sales Price: $1,129,300
% of List Price vs. Sold: 94.92% % of List Price vs. Sold: 93.27%
Average Days On Market: 278 Average Days On Market:181
Average SF: 4836 Average SF:3999
LAKE WEST (LW): RIVER NORTH (Lake Travis Only) (RN)
Current Homes Available: 9 Current Homes Available:6
Homes Sold in Past 12 Months: 4 Homes Sold in Past 12 Months: 2
Months Worth of Inventory: 5.33 Months Worth of Inventory: 4
Average List Price:$2,271,475 Average List Price: $1,162,500
Average Sales Price: $2,183,125 Average Sales Price: $1,087,500
% of List Price vs. Sold: 96.11% % of List Price vs. Sold: 93.54%
Average Days On Market: 113 Average Days On Market:224
Average SF: 8014 ** Average SF:2992
** In the Lake West area, a home sold that was 15,394SF, making the Average SF higher than normal. Without this home, the Average SF is 4,367, Average List Price is $843,000 and Average Sold Price is $803,500.
The Nyland Team has helped many home sellers and home buyers throughout the Lake Travis market, including Lakeway, Lago Vista, Point Venture and Briarcliff. Our team has buyer’s experts with years of experience in Re-Sale, Relocation, Foreclosures and New Construction.
Our success in the Lake Travis market has helped us develop a unique and innovative marketing system that harnesses the power of the internet to get your property sold quickly.
For a Market Absorption Trend of your neighborhood, please contact Jeffrey Nyland at 512-626-8552 or email him at Jeffrey@NylandTeam.com We’re here to answer all your real estate questions.