Diving in deeper
The 78730 ZIP code, representing the Riverplace area, experienced a 200% increase year over year in home sales in December. ZIP code 78732 in Steiner Ranch also saw a 100% increase in home sales for the same year-over-year timeframe.
The Spicewood and Westlake areas, in ZIP codes 78669 and 78746, respectively, experienced the least growth in home sales for December, with Spicewood seeing no change in year-over-year home sales and Westlake experiencing a 21.7% decline.
The specifics
Homes in the eastern part of the Lake Travis-Westlake market in areas such as Westlake spent longer on the market on average, with Westlake experiencing a 52% increase year-over-year for December.
Meanwhile, the Spicewood and Bee Cave areas experienced smaller increases or a decline in the number of days on the market, with Bee Cave, represented by 78738, seeing a 12% decrease for December compared to the previous year. The Lakeway and Hudson Bend area in 78734 also experienced a 1.3% decrease.
Westlake, Riverplace, Steiner Ranch and Spicewood experienced an increase in the median home sales price for their respective ZIP codes, with Riverplace seeing a 46.8% increase in home costs and Steiner Ranch seeing a 38.5% increase year over year.
At the same time, median home prices in the Lakeway/Hudson Bend decreased by 27.8% and the Barton Creek area in 78735 decreased by 14.5% for December.
Also of note
There were over 85 homes over $900,000 sold across the Lake Travis and Westlake areas in December, more than each of the other price points combined.
Across the market, closed sales were higher this December than the previous year, totaling 140 in 2023 and 145 in 2024. Additionally, the price per square foot dropped from $374 in December 2023 to $363.
Months of inventory is a term used to describe how long it would take for the amount of homes on the market to be sold, according to the National Association of Realtors.
Six months of inventory indicates properties may slowly become more valuable over time, while less than six months may mean home prices are rising more rapidly, per the NAR. The Lake Travis-Westlake area had 5.7 months of inventory in December, compared to 5.5 the previous year.
