The short version: Comparing the last 12 months with the 12 months before, home prices in Lakeway, Bee Cave and Spicewood were flat. The median price per square foot, leaving out lakefront, was $276 both years. What changed was speed. The median days on market dropped from 67 to 50, houses sold for a median of 94.5% of their original list price instead of 93.5%, and a few more listings actually sold. This fall is the exception: closings from October 1 to November 10 were down 19% from the same weeks last year.
Every few months I pull the market numbers for Lakeway and Bee Cave, usually for the last 90 days. This time I wanted the longer view, so I pulled two full years of closed sales from the MLS for the area that covers Lakeway, Bee Cave, Spicewood and the neighborhoods around them, and lined up the last 12 months against the 12 months before.
Here's the headline: prices didn't go anywhere. But the market underneath them got quicker and a little more forgiving, at least until this fall.
The Year Side by Side
| 12 months of closings | Nov 2024 to Nov 2025 | Nov 2025 to Nov 2026 |
|---|---|---|
| Houses sold | 1,143 | 1,166 |
| Median sale price | $799,900 | $824,500 |
| Median price per sq ft (excluding lakefront) | $276.50 | $276.40 |
| Median % of original list price | 93.5% | 94.5% |
| Median days on market | 67 | 50 |
| Sold within 30 days | 32% | 37% |
| On the market more than 90 days | 39% | 35% |
| Sold at or above original list price | 14% | 16% |
| Listings withdrawn or expired | 868 | 811 |
| Share of ended listings that sold | 57% | 59% |
Prices Held Still
The median sale price rose about 3%, from $799,900 to $824,500. That sounds like appreciation, but most of it is the mix of houses that sold. Slightly larger houses sold this year, and there were nearly twice as many lakefront sales (63 against 36). Leave out lakefront and look at price per square foot, which adjusts for size, and the number is essentially identical: $276.50 a year ago and $276.40 now. It was flat within about 2% in every quarter of the year, too.
For sellers, that means the market isn't going to bail out a price that's too high. Values aren't rising fast enough to catch up to a listing that starts too high.
What Did Change: Speed
Houses sold faster than a year earlier, until this fall
Median days on market by period of closing
Each period compared with the same weeks a year earlier. Source: ABoR MLS.
From January through September, houses sold noticeably faster than they had a year earlier, by anywhere from about 12 days in spring to more than five weeks in winter. The biggest gain was last winter: houses that closed from January through March took a median of 62 days, against 99 the winter before.
Sellers also gave up a little less. The median sale came in at 94.5% of the original list price, up a full point, and more houses sold at or above their first price. On an $825,000 house, one point is about $8,000.
Every price range got quicker
| Sale price (excluding lakefront) | Median days, prior year | Median days, this year | % of list, prior year | % of list, this year |
|---|---|---|---|---|
| Under $600,000 | 81 | 55 | 92.5% | 94.5% |
| $600,000 to $800,000 | 69 | 43 | 94.1% | 95.4% |
| $800,000 to $1 million | 60 | 48 | 94.4% | 95.4% |
| $1 million to $1.5 million | 49 | 36 | 94.0% | 94.1% |
| $1.5 million to $2 million | 60 | 34 | 93.1% | 95.3% |
| Over $2 million | 89 | 70 | 90.0% | 92.6% |
Above $2 million is still the slowest and softest part of the market, but even there the numbers improved. Between $1 million and $1.5 million, houses sold faster without getting any closer to their asking price.
Bee Cave improved the most
| Zip code | Sales | Median price | Median $/sq ft | Median days on market |
|---|---|---|---|---|
| 78738 (Bee Cave) | 670 to 641 | $854,300 to $895,000 | $275 to $279 | 68 to 43 |
| 78734 (Lakeway) | 298 to 331 | $700,000 to $699,000 | $283 to $284 | 54 to 50 |
| 78669 (Spicewood) | 137 to 159 | $637,000 to $662,017 | $259 to $260 | 101 to 94 |
Prior year to this year. Includes condos and lakefront.
The Bee Cave zip code saw the biggest drop in time on market, from 68 days to 43. Lakeway and Spicewood were steadier, with more sales and only small changes in speed. Price per square foot barely moved in any of the three.
This Fall Is the Exception
The faster market didn't hold into fall. From October 1 through November 10, 93 houses closed, against 115 in the same weeks a year earlier, a drop of 19%. The houses that did sell took about as long as last fall (86 days against 83) and sold for a slightly higher share of their asking price.
That fits what I described in my October market update, which compared the last 90 days with the summer and found more listings sitting and more sellers giving up. Both are true. Over the full year, this was a quicker market than the year before. Over the last few months, it has cooled, and fall is usually the slowest stretch anyway.
What It Means for You
If you're selling: Don't count on appreciation. Prices are where they were a year ago, so the price has to be right from the start. The good news is that well-priced houses have been selling faster than a year ago, especially in spring. My post on the best time to list in Lakeway and Bee Cave breaks down the timing month by month.
If you're buying: Prices aren't running away from you, and fall usually gives you more room to negotiate than spring does. Most houses still sell below their original list price. But the best-priced houses go quickly, so be ready when the right one comes up.
If you're in Falconhead: The neighborhood had a stronger year than the area overall. See my 12-month Falconhead market report.
Year-Over-Year FAQs
Are home prices going up in Lakeway and Bee Cave?
Not over the last year. Leaving out lakefront sales, the median price per square foot was $276.50 for closings from November 2024 to November 2025 and $276.40 for November 2025 to November 2026. The median sale price rose about 3%, mostly because slightly larger houses and more lakefront houses sold.
Are houses selling faster in Lakeway and Bee Cave than last year?
Over the full year, yes. The median days on market fell from 67 to 50, and 37% of houses sold within 30 days, up from 32%. This fall is slower: closings from October 1 to November 10, 2026 were down 19% from the same weeks in 2025.
How much below asking are houses selling in Lakeway and Bee Cave?
The median sale was 94.5% of the original list price over the last 12 months, up from 93.5% the year before. About 16% of houses sold at or above their original list price.
Keep Reading
- When is the best time to list a house in Lakeway and Bee Cave?
- How houses near Lake Travis actually sell for more
- Find out what your house is worth
Written by Lori Wakefield, REALTOR, Keller Williams Lake Travis. CLHMS, Keller Williams Master Faculty Instructor and member of the City of Bee Cave Planning and Zoning Commission. Call or text 512-657-4455, or send me a note.
Source: ABoR MLS (Unlock MLS), residential closings in MLS area LS (Lakeway, Bee Cave, Spicewood and surrounding neighborhoods), November 12, 2024 to November 10, 2025 compared with November 12, 2025 to November 10, 2026. Includes condos. Days on market are cumulative, so they include earlier listings of the same house. Price ranges and the price-per-square-foot comparison leave out lakefront sales. Information is deemed reliable but not guaranteed.