In an ongoing series for Curbed Austin, real-estate analytics site NeighborhoodX is taking a close look at sales price asking ranges per square foot in different neighborhoods.
Today's analysis focuses on West Lake Hills, which is a bit more difficult to define than most neighborhoods in Austin. The separately incorporated city of West Lake Hills has specific and somewhat wonky boundaries within the area between the Colorado River/Lake Austin on the east and Highway 360 on the west, with the Wild Basin wilderness above and Rollingwood and Westlake drives marking the southern boundary.
More generally, Austinites—particularly real-estate professionals—tend to refer to areas between the river and 360 (and occasionally even west of 360) from MoPac to northerly points as "Westlake."
The current average listing price in the neighborhood is $441 per square foot, although the individual properties that make up this average range considerably, from $233/square foot (1938 Holly Drive, a two-story condo asking $285,000) to $854/square foot (303 Cedar Oak Drive, a large contemporary that’s been on the market for a while, asking almost $6 million).
The NeighborhoodX analysis excluded properties positioned primarily as development sites, where the value was largely driven by the land or the building potential.