For our ongoing series Neighborhood Market Watch, real-estate analytics site NeighborhoodX is taking a close look at sales prices ranges in different Austin neighborhoods.
For today's analysis, we return to West Lake Hills, which we also looked at in April. As we noted then: West Lake Hills 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 south boundary, sort of.
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." (Then a lot of them like to argue about it.)
For May, the average listing price in West Lake Hills is $409/square foot, and the properties that make up that average range widely from $244/square foot (314 Eanes School Road) to $1,389/square foot (3148 Above Stratford Place).
Looking back to our April analysis, the average was $401/square foot, and the price range was identical—in part because many of the same listings at the very highest and lowest ends of the range are still on the market.
To put that upper price into context: $1,389/square foot is in the price range of prime Greenwich Village in New York City, a Beacon Hill townhouse, or waterfront Miami.
You can explore the full, interactive chart at the NeighborhoodX link below.
• Austin Homes in the Range: West Lake Hills (May 2016) ( [NeighborhoodX]
• Austin Homes in the Range: The Highs and Lows of West Lake Hills [Curbed Austin]