Represented by ZIP code 78746, the price increase equates to a 38.9% increase year over year, increasing from $1.73 million in 2024.
The Lakeway area, represented by ZIP code 78734, also experienced a median home price increase of 33.1% year over year in March, going from $565,000 to $752,000.
Diving in deeper
Three ZIP codes across the Lake Travis-Westlake area also experienced at least 100% increases in the amount of homes sold in March compared to the previous year, including Spicewood in ZIP code 78669, the Barton Creek area in ZIP code 78735 and the Lake Hills area in ZIP code 78733.
The average number of days spent on the market varied across the eight ZIP codes in the Lake Travis area. Both the Riverplace area in ZIP code 78730 and the Lake Hills area saw more days on the market on average, for a total increase of 221.2% and 151.4% increase year over year, respectively.
On the other hand, the Steiner Ranch experienced the largest decline in the amount of days spent on the market, resulting in a 33.3% decline year over year for March.
What else?
Over half of the homes sold in March in the area were at least $900,000, according to Unlock MLS data.
Marketwide, the number of closed sales, new listings, active listings and the number of homes under contract were up across the board in March compared to the previous year.
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 7.2 months of inventory in March, compared to 6.9 the previous year.
See how these figures compare to February data here.
