Ed Neuhaus 
Lake Travis and Lakeway are where Austin goes to live the lake life. Boats, marinas, resort-style amenities, Hill Country sunsets over the water. It’s a lifestyle that’s hard to beat. But the real estate market out here in 2026 is telling a different story than the rest of West Austin, and if you’re buying or selling in this area, you need to understand the dynamics.
Lakeway is feeling the correction more than communities closer to the core. 60% of listings have taken price cuts. Medians are down 6-23% depending on the segment. But there’s also a massive new development story unfolding at Travis Club that could reshape the luxury market around the lake. And for buyers, this is creating opportunities that didn’t exist 18 months ago.
Lets get into the numbers and what they actually mean.
Lakeway Market Snapshot
| Metric | Value |
|---|---|
| Median Price | $690-779K |
| Price per Sq Ft | $258 |
| Days on Market | 53-75 |
| Months of Supply | 11.0 |
| Listings with Price Cuts | ~60% |
| School District | Lake Travis ISD (TEA “A”, 90/100) |
That 11 months of supply number is significant. Six months is considered balanced. Eleven months means sellers are competing for a smaller pool of buyers, and the ones who aren’t pricing realistically are sitting. The 60% price cut rate confirms it.
But here’s the thing most people miss. Lakeway is a big area with very different sub-markets. Rough Hollow at $825K-$1.3M is a different conversation than entry-level Lakeway at $690K. And the new Travis Club development at $700K-$3.4M is an entirely different world. You can’t lump them all together and draw one conclusion.
Rough Hollow: The Marina Lifestyle
If you want the full lake lifestyle with a marina at your doorstep, Rough Hollow is the community most people think of first. And for good reason.
The 294-slip marina is one of the largest private marinas on Lake Travis. Highland Village has a waterpark, pools, fitness center, and miles of trails. The community is built around the idea that you live where you play. Homes range from $825K to $1.3M, with some lakefront properties going higher.
Days on market at Rough Hollow are running around 78 days, which is above the broader metro average but not unusual for this price point in the current market. Sellers here who price accurately are still getting deals done. The ones sitting are the ones who priced based on 2022 comps.
Travis Club: THE Luxury Story of 2026
Ok, if you follow the West Austin luxury market at all, you need to know about Travis Club. This is the development story of 2026 out here.
Travis Club is 1,500 acres on the shores of Lake Travis in Spicewood. A Beau Welling-designed championship golf course is opening mid-2026. There’s a private marina. Homesites range from $700K to $3.4M, with custom builds going well above that.
Why does this matter? Because there hasn’t been a new luxury community of this scale on Lake Travis in years. The combination of the golf course, private lake access, and the acreage creates something that doesn’t really exist anywhere else in the Austin market right now. For buyers in the luxury segment, Travis Club is the one to watch.
For more on what’s happening across West Austin new construction, my complete guide covers every major community and the builder incentives available right now.
The Hills Country Club
The Hills has been a staple of Lakeway for decades. Two Jack Nicklaus-designed championship courses. Established neighborhood with mature landscaping and a country club lifestyle that attracts a loyal community.
Homes in The Hills tend to sit in the mid-range for Lakeway pricing, and the community has a different vibe than newer developments like Rough Hollow or Travis Club. It’s more traditional, more established. If that’s your speed, it’s worth a look.
Lake Travis Water Levels: The Confidence Factor
I’d be dishonest if I didn’t address the water question, because it’s the first thing out-of-state buyers ask about. And fair enough. The drought scares of past years were real.
Right now, Lake Travis is at 678 feet, which is 94% of full capacity. That’s a healthy number. Confidence has been largely restored after the scary low-water years. But the reality is that Lake Travis is a Highland Lakes reservoir that fluctuates with rainfall and management decisions by LCRA. Stage 2 drought restrictions happened as recently as 2025, and Austin carries an “Extraordinary Drought” classification risk.
Does this mean you shouldn’t buy lakefront? No. It means you should understand what you’re buying and have realistic expectations about water levels. I covered this honestly in my waterfront buying guide.
The Commute Reality Check
I’m going to be straight with you here because I think honesty builds more trust than a sales pitch.
The commute from Lakeway to downtown Austin is 30-40 minutes with no traffic. During peak hours, you’re looking at 50-70 minutes, and sometimes worse. RM 620 is the bottleneck, and the planned widening won’t even start construction until 2030.
If you work from home most days and commute occasionally, Lakeway is fantastic. If you’re driving downtown five days a week, you need to factor in that commute seriously. Compare that to Westlake Hills at 10-15 minutes to downtown, and you understand part of why the price gap exists.
For a detailed breakdown of commute times across all West Austin communities, my relocation guide has you covered.
Lake Travis ISD
Lake Travis ISD holds a TEA “A” rating at 90/100 and ranks #2 in Travis County. Lake Travis High School has strong academics and athletics, and the district just hit its lowest tax rate in history at $1.0397 per $100 valuation.
Is it Eanes ISD? No. But it’s a strong district that’s improving, and the lower tax rate is a real financial benefit. For families weighing the school district decision, I compared all three West Austin districts side by side in my school district guide. And if you want to go deeper on the elementary schools, my LTISD elementary comparison breaks it all down.
What I’d Tell a Buyer Right Now
Lakeway is one of the best buyer opportunities in West Austin right now. The combination of elevated inventory, motivated sellers, and a 60% price-cut rate means you have negotiating leverage that simply doesn’t exist in Westlake Hills.
If you’ve been waiting for the “right time” to buy on the lake, the data says this is about as favorable as it gets for buyers. Sellers are willing to negotiate on price, closing costs, rate buydowns, and timelines. New construction like Travis Club is offering incentives that make the math work even better.
For the full picture on buyer leverage across Austin, see my buyer’s guide. And for how Lakeway pricing compares to every other West Austin community, the neighborhood price comparison has the data.
The broader Austin market context is in my 2026 market forecast.
Ready to Explore Lake Travis and Lakeway?
Whether you’re looking for a lakefront property, a golf community, or just the Hill Country lifestyle with lake access, I can help you find the right fit.
Contact Ed Neuhaus at Neuhaus Realty Group to start the conversation.
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