Westlake - Austin Real Estate News
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Number of Westlake MLS Home Sales YTD Up Slightly vs Recent Years (click for details)
- Westlake is bucking the general overall Austin market trend with a slight increase in YTD sales in comparison to the last three years. Many factors drive this ranging from convenience to downtown and west Austin points of interest. Most importantly though is that it is home to Eanes ISD which is the top rated school district in the state. The question is if the allure of Westlake can continue in the current economic market to drive price and sales increases.
- Year to date number of sales of total sales of 196 through July 31 of single family homes increased 8.2% versus 2024. There has been an increasing trend, albeit a light increase, over the years since 2020.
- As far as how prices are holding up, the chart below shows the average sales price of Westlake homes on a solid uptick of 5% compared to last year. Select higher dollar properties are helping drive the increase while the YTD median price of $1.671M is holding steady. However, as can be seen in the graph median prices have recently dipped with July having a median sales price of just $1.350M.
- Per the graph below it is nice to see the flattened but increasing trend of average price. At the same time the volatility in median price over recent months including a significant decrease in July can be seen. This Median price decrease indicates more lower priced transactions are taking place within the Westlake market at the same time as higher end transactions drive increased Average price.
-We will wait and see what happens in the coming months but it is anticipated that we may have more sluggish growth until interest rates improve or corporate hiring bounces back. The good news is that Westlake has been so far outperforming the overall general Austin market with comparative number of YTD transactions increasing as well as increasing average prices. Check in next month for the next Westlake Confidential update!
