Lakeway and surrounding areas have quite a few high end homes on the market and we have not seen a lot of movement lately.  What movement we have seen in many cases has seen significant price reductions.  With the work started on the Lakeway Regional Medical Center again, we may see higher end home sales start to pick up.  Although the hospital will not open until 2012, we may start seeing doctors moving into the area as they anticipate the opening of the hospital.  With so many high end homes on the market, there is a lot to choose from right now, but a lot of what will sell will depend on where the homes are.

 

In the city of Lakeway, there are close to 50 homes currently on the market priced at $1 million or higher.  If you throw in all of the Lake Travis ISD area, there are 133 homes priced at $1 million or more.  Part of this area is a bit farther out, but if doctors and other high end buyers who will be associated with the medical center don’t mind driving 20 minutes, there is a lot to choose from.  Between Lakeway, Bee Cave and Spicewood, there are some very nice communities.  Hudson Bend has some very nice areas as well.  Rough Hollow, which is one of Lakeway’s newest communities, has a lot to offer.  As it will take 9 or more months to build in Rough Hollow, we may see more activity in that community this summer.

 

In any case, it will be nice to see inventory at the higher end of prices start to come down.