The details
ZIP code 78733 in the Austin Lake Hills area experienced the largest increase at 25%, followed by 78738 in Bee Cave at 23.3% and 78746 in Westlake at 21.4%.
Home sales in ZIP code 78730 in Riverplace and ZIP code 78734 in Lakeway declined 20% and 5.1%, respectively.
The average number of days spent on the market increased over 41% for the Spicewood area in 78669, alongside the Lakeway and Westlake areas.
Median home sale prices remained similar to the previous year, with the largest swings represented by a 10.3% increase in the Lakeway area and a 10.6% decrease in the Austin Lake Hills area.
What else?
The majority of homes sold across the market cost at least $900,000, more than all other price points combined. The highest number of these came from Bee Cave and Westlake, respectively.
Across the market, there were 17 more homes sold in May this year compared to the previous year, alongside 146 more active listings and 12 more new listings.
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 6.8 months of inventory in May, compared to 6.7 the previous year.
See how these figures compare to April data here.
