Ed Neuhaus 
If you’re looking at real estate in the 78746 zip code, you already know this isn’t like anywhere else in Austin. Westlake Hills and Rollingwood share a zip code, share a school district, and share a buyer profile that is fundamentally different from the rest of the market. These two communities are where Austin’s old money lives, where the best public school district in Texas sends kids to college, and where the rules of the 2026 housing correction don’t quite apply the same way.
Something that most market reports miss completely: the public data in Westlake Hills and Rollingwood doesn’t tell the full story. A significant amount of inventory here never hits the MLS. It lives in the private market, in off-market listings, in pocket deals between agents. So when you see median prices and days on market numbers, understand that you’re only seeing part of the picture.
Lets break down what’s actually happening in Austin’s most exclusive real estate market heading into 2026.
The Numbers: Where Westlake Hills and Rollingwood Stand
| Metric | Westlake Hills | Rollingwood |
|---|---|---|
| Median Price | $3.5-3.6M | $2.3-2.9M |
| Price per Sq Ft | $756 | $709 |
| Days on Market | 54-85 | 65 |
| Months of Supply | 9.0 | Low volume |
| School District | Eanes ISD (#1 TX) | Eanes ISD (#1 TX) |
| Zip Code | 78746 | 78746 |
A few things jump out. First, the price per square foot in both communities is well above $700. That’s not softening. That’s premium pricing that reflects the location, the schools, and the scarcity of inventory.
Second, while months of supply in Westlake is elevated at 9.0, that number is misleading because it doesn’t account for the private market. When a seller in Westlake Hills doesn’t get an offer they like, they don’t drop their price. They pull the listing and move it off-MLS. That’s the luxury of not needing to sell.
Why This Market Is Insulated
I’ve been saying this to my clients all year, and the data keeps proving it out: the Westlake/Rollingwood market is largely immune to the downside correction affecting the rest of Austin.
Here’s why. These sellers don’t have to sell. The typical homeowner in Westlake Hills has significant equity, often owns the home outright, and has no financial pressure to accept a below-market offer. If the market doesn’t meet their expectations, they simply wait. Or they move to the private market where the transaction happens between agents without public listing data.
I would estimate that off-MLS private inventory in the greater Westlake area represents a meaningful share of available homes at any given time. The public numbers are incomplete. This is something that out-of-state buyers, especially those relocating from California, often don’t realize until they start working with a local agent who has access to these networks.
Compare this to Lakeway where 60% of listings have taken price cuts, or Dripping Springs where sellers are more likely to need to move. Same metro, completely different dynamics.
Eanes ISD: The Crown Jewel
You cannot talk about Westlake and Rollingwood real estate without talking about Eanes ISD. It is the single biggest driver of property values in the 78746 zip code.
The numbers speak for themselves:
- #1 school district in Texas, #7 nationally
- Westlake High School ranked 19th best public high school in the nation
- 97.8% graduation rate
- 74% of students take AP courses, 92% score 3 or higher
- 33 National Merit Finalists
The premium for being inside Eanes ISD boundaries is real and measurable. I’ve seen identical homes, one inside and one outside the district line, differ by hundreds of thousands of dollars. For families, this isn’t just a school district. It’s a long-term investment in their kids’ education and their property value. I go deeper on the district comparisons in my West Austin school district guide.
The Overlook at Westlake: New Luxury Inventory
One of the most significant new construction stories in West Austin right now is The Overlook at Westlake. MileStone Community Builders is developing 48 new luxury homes priced from $2.85M to $5M, with move-ins expected in late 2026.
This is notable for a few reasons. New construction in Westlake Hills is rare because there’s very little undeveloped land left. These 48 homes represent a meaningful addition to the market. And because they’re inside Eanes ISD, they’ll carry the school district premium from day one.
For buyers in the $3M-$5M range, this is worth watching. New construction in this location, with this school district, at these price points doesn’t come around often. For more on what builders are offering across West Austin, see my new construction guide.
Rollingwood: Austin’s Best-Kept Secret
Rollingwood is one of those places that if you know, you know. It’s a tiny incorporated city of about 1,500 people that sits right next to Westlake Hills, shares Eanes ISD, and has a character all its own.
Kids bike to their friends’ houses here. The July 4th parade is legendary. Neighbors actually know each other. It feels like a small town that happens to be 10 minutes from downtown Austin.
The real estate story in Rollingwood is dominated by teardowns and rebuilds. Many of the original ranch homes from the 1950s and 60s are being purchased for the land, torn down, and replaced with modern custom builds. This is driving the median price up into the $2.3-2.9M range, but you’ll occasionally find an unrenovated original that represents a different kind of opportunity.
The teardown/rebuild dynamic also means the neighborhood is constantly evolving. What was a modest ranch neighborhood 20 years ago is now a mix of original character homes and stunning contemporary builds. Both have their appeal.
The Commute Reality
One of the biggest selling points of Westlake Hills and Rollingwood is proximity to downtown Austin. We’re talking 10-15 minutes without traffic. Even during rush hour, you’re looking at 20-25 minutes on most days.
That’s a massive advantage over Lakeway (30-40 minutes no traffic, 50-70 minutes peak) or Dripping Springs (30-40 minutes no traffic, 45-60 minutes peak on 290). For executives who need to be downtown regularly, or families who want easy access to Austin’s cultural scene, the location premium in 78746 makes sense.
Who Buys Here
The typical buyer in Westlake Hills and Rollingwood is a 40-55 year old professional or executive with a household income well above $200K. Increasingly, these buyers are relocating from California (the proposed wealth tax is accelerating this trend), drawn by no state income tax, Eanes ISD, and lot sizes that would cost 3x in the Bay Area or LA.
Tech executives from Apple, Tesla, Oracle, and Meta with offices in the Austin area are a significant segment. So are entrepreneurs and venture capital professionals. The combination of top schools, Hill Country lifestyle, privacy, and proximity to downtown checks every box for this demographic.
If you’re relocating to the Austin area and considering Westlake or Rollingwood, my relocation guide breaks down everything you need to know, including how West Austin communities compare to where you’re coming from.
What I’d Tell a Buyer Right Now
If you’re looking at Westlake Hills or Rollingwood in 2026, here’s what you need to understand. This market is not going to see the 10-20% discounts that some buyers are hoping for. Sellers here have no pressure to discount deeply. You may see individual properties that have been on market for a while and are more negotiable, but expecting a broad correction in 78746 is not realistic.
That said, you do have more options than you did in 2021. Inventory is higher. You can take your time. You can negotiate. And if you work with an agent who has access to the off-market inventory, you’ll see homes that never appear on the public portals.
The data on broader West Austin pricing is in my neighborhood price comparison, and the luxury market trends are covered in my luxury market analysis. For the full Austin market context, see my 2026 Austin housing market forecast.
Ready to Explore Westlake or Rollingwood?
Whether you’re relocating, upgrading, or building custom, I can help you navigate the 78746 market, including the off-market inventory that matters most at this price point.
Contact Ed Neuhaus at Neuhaus Realty Group to start the conversation.
Browse current listings:
