Increasing Home Values in Westlake Hills, Rollingwood, and Bee Cave

by Brian T. Regent Property Group

As the real estate market in the greater Austin, Texas area continues to boom, luxury homes for sale in the Lake Travis and Westlake Hills suburbs continue to appreciate in value, as demonstrated by an increase in median home prices for single-family homes in the first half of 2017. According to Community Impact, citing numbers reported by the Austin Board of Realtors® in their mid-year Central Texas Housing Market Report, Lake Travis and Westlake homes for sale fetched 4.9 percent more in the first half of 2017 compared to the first half of 2016, up to a median price of $540,000.

Meanwhile, market movement remains fairly steady. Overall, a total of 1,372 homes have sold in the Lake Travis and Westlake Hills area so far this year, a decrease of less than one percent from early 2016. Within this luxury home market, Westlake Hills, Bee Cave, and Rollingwood median home prices also rose.

Following the first half of 2017, the median price for a Westlake home for sale rose to $1,357,500, a whopping 25.4 percent increase from early 2016. The number of homes sold in Westlake Hills this year decreased dramatically though, by 28.6 percent, suggesting that there may be fewer Westlake Hills luxury homes for sale as owners enjoy a wave of equity appreciation and postpone putting their home on the market.

Bee Cave has shown more moderate growth in median price, with a modest increase of 3.7 percent from early 2016, up to $544,500. However, the first half of 2017 saw stronger growth in total home sales, up 11.1 percent from early 2016 with 70 luxury homes sold.

The most dramatic cumulative increase has occurred in Rollingwood, where the median price for a Rollingwood home for sale has increased to $1,545,000, up 23 percent from early 2016. Rollingwood luxury homes for sale are flying off the market early in 2017, as the number of homes sold increased 200 percent from early 2016, with 15 sales so far this year.

About the Author: Brain Talley has years of experience of working as a Westlake real estate agent in Austin, Texas. He is quite an expert and he loves to share his expertise with people. He enjoys discussing real estate trends, real estate market news to help people make informed decisions.