Bee Cave · Serene Hills · Western Lakeway
78738 · Bee Cave, Serene Hills + western Lakeway.The real estate market report.
Live 78738 housing-market data with local context for Bee Cave, Serene Hills, Rough Hollow, Lake Pointe, Falconhead, Sweetwater, Spanish Oaks and western Lakeway.
Provider-updated data · Lake Travis ISD context · Appraisal-informed property strategy
01 / Read the Market Correctly
One ZIP code. Several different markets.
78738 stretches across a diverse Bee Cave, Lakeway and western Travis County housing market.
Buyers may compare established Bee Cave neighborhoods, custom Lakeway-area homes, gated luxury communities, golf properties, lake-oriented master plans and newer construction within the same search.
The live report below shows the broad direction of the ZIP code. The useful next step is narrowing that information to the community, property type, price band, section, lot and actual homes a qualified buyer would consider as alternatives.
78738 describes the mailing area. The comparable set is usually much narrower.
02 / Live 78738 Market Data
What is happening right now?
Inventory, asking prices, market time, price adjustments and market momentum change continuously. Those moving statistics belong inside the live report rather than in permanent page copy that can quietly become stale.
How to use this report: ZIP-code statistics provide market context. They are not a substitute for a comparative market analysis, appraisal or property-specific valuation. The correct comparable set can be significantly narrower than 78738.
Inside 78738
The ZIP code is broad. The neighborhoods are specific.
Serene Hills is one example of why 78738 cannot be treated as one interchangeable housing market. Community, street, topography, lot position, architecture and competing homes all shape the decision.
Available Now
Homes Diana is representing right now.
Each home has its own page with the photos, floor plan, Diana's notes and what to know before you tour.
03 / The 78738 Micro-Markets
Same ZIP. Different buyer expectations.
The best comparable property is not automatically the closest sale. It is the property that most closely competes for the same buyer.
Bee Cave
The residential, shopping and dining center of 78738, with Highway 71 access and a mix of established and newer neighborhoods.
Serene Hills
Four named sections, custom and semi-custom homes, private trails, greenbelts and varied topography.
Rough Hollow
Lake-oriented, with real differences in views, lots, elevation, age and resale competition.
Lake Pointe
Established near Bee Cave. Section, greenbelt position and renovation level move value.
Falconhead
Golf and hillside settings, where course position and lot can create large value gaps.
Sweetwater
Newer master plan. Builder, floor plan, lot premium and new inventory shape resale.
Spanish Oaks
Gated and highly individual. Architecture, site and privacy outweigh ZIP-wide averages.
Inside 78738
Diana’s full read on each of the seven, and what to check when you buy here from another state.
04 / What Changes Value
Square footage is one data point. Not a pricing method.
Diana looks for the differences that change the actual property experience, and then tests those differences against credible market evidence.
Site + usable land
Lot size alone does not explain utility. Slope, drainage, retaining walls, driveway grade, privacy, rear exposure and usable yard all influence how buyers experience the site.
View + orientation
Hillside, canyon, golf, greenbelt and lake-oriented views vary in quality. Direction, permanence, neighboring improvements and afternoon sun can also matter.
Architecture + function
One-story living, bedroom separation, office placement, natural light, ceiling volume, storage and indoor-outdoor flow can change buyer demand even when square footage is similar.
Construction + condition
Builder, workmanship, systems, materials, renovation execution, deferred maintenance and finish quality all affect marketability and supported value.
Pool + outdoor living
A pool is not one standardized adjustment. Privacy, orientation, design, decking, shade, outdoor kitchen, view relationship and remaining yard can change the market reaction.
Buyer alternatives
A 78738 buyer may compare another section, Bee Cave, established Lakeway, Westlake or new construction. The true competition helps determine the relevant market conversation.
Compare. Adjust. Reconcile. Price per square foot can describe a sale. It should not be used as a shortcut that multiplies a neighborhood figure by the subject home's square footage. Supported value comes from selecting relevant evidence, analyzing meaningful differences and reconciling what the market supports.
Luxury appraisal west of Austin. The bulk of Diana's luxury appraisal work falls between $1 million and $15 million, with selected complex lakefront, ranch and estate assignments of $25 million and more, including Lake Travis and Spicewood. Her appraisal services are provided through The Appraisal Shop.
05 / Diana's Home Community
Serene Hills is local knowledge at street level.
Diana lives in Serene Hills and serves as Assistant Secretary of the neighborhood HOA Board. That adds firsthand familiarity with its streets, sections, greenbelts, terrain, neighborhood priorities and Highway 71 connection.
Her valuation perspective comes from a separate professional discipline. Diana has completed more than 3,000 appraisal reports and continues to complete roughly 200 to 300 new appraisal assignments each year. Repeated appraisal work builds pattern recognition around site, construction, condition, utility, comparable selection, adjustments and supported value.
Serene Hills homeowner and neighbor.
HOA Assistant Secretary and community involvement.
Texas Certified General Appraiser.
Diana's HOA service is separate from her real estate and appraisal businesses and does not imply endorsement by the Serene Hills Homeowners Association. Formal appraisal assignments are also separate professional engagements from brokerage representation. Her appraisal services are provided through The Appraisal Shop; see luxury appraisal around Lake Travis.
06 / Turn Data Into Strategy
The same market can create different decisions.
Market direction matters, but buyer and seller strategy starts with the individual property's leverage, alternatives and likely audience.
Decide what this exact home is worth to this market.
- Identify the communities and properties a serious buyer would genuinely compare.
- Study lot, slope, privacy, view, construction, condition, pool and floor-plan utility.
- Compare taxes, HOA obligations, utilities and ownership costs, not merely asking prices.
- Separate a broad market opportunity from a property-specific problem.
- Structure the offer around value, seller leverage, financing, timing and execution risk.
Position against the homes buyers will actually tour.
- Define the relevant comparable and competing set rather than every listing in 78738.
- Identify which site, architecture, view, pool, privacy or condition features genuinely support a premium.
- Prepare the property where buyer response is most likely to justify the effort.
- Choose the private, Coming Soon or broad-market launch path that fits the property and seller.
- Read showing activity, objections, competing inventory and buyer behavior as evidence after launch.
07 / Moving To or From 78738
Buying here from another state. Or selling here after you have left.
Bee Cave and Serene Hills draw buyers from California, other states and Europe, many choosing an address before they have walked a single street. Diana has made that move herself. Born in Budapest, she sold homes in California before relocating to Austin in 2020, and she lives in Serene Hills.
What the listing photos cannot show you from another time zone.
The lot read the way an appraiser would, the address checked for taxes, utilities, HOA and school assignment before you fly in, and a Texas contract you can sign from anywhere.
Sell once, at the right price, even after the moving truck leaves.
Time the launch around the move, price once against the new construction buyers are also touring, and let a neighbor who lives in 78738 look after the empty house.
08 / Beyond the Listing
In 78738, the address can tell only part of the story.
Western Travis County boundaries do not always line up neatly. City, mailing address, school district, utility provider, tax entities, HOA obligations and legal subdivision should be verified for the individual property.
Jurisdiction
Confirm city limits, mailing address, subdivision, restrictions and the governmental entities that actually apply to the parcel.
Schools
Lake Travis ISD is central to the 78738 market, but attendance zones and campus assignments should always be verified for the exact address.
Taxes + utilities
Compare taxing entities, water and wastewater service, HOA or community fees and other carrying costs rather than assuming nearby homes share the same structure.
Future competition
New construction, infrastructure, incentives and Highway 71 corridor development can affect buyer choices even when the subject home itself has not changed.
Diana follows development, infrastructure, lifestyle and housing stories throughout the region in The Westsider.
Keep Exploring · 78738
The ZIP-code report is the beginning. The decision gets more specific.
Market conditions, neighborhood choice, property value, search strategy, selling strategy, local growth and the under-contract phase all connect.
09 / 78738 Questions
Understand the market before pricing the property.
These answers explain the broad market. Taxes, schools, utilities, restrictions, jurisdiction and physical property characteristics should still be verified at the individual address.
What communities are commonly compared within 78738?
The 78738 market includes Bee Cave, Lakeway-area and western Travis County communities. Frequently compared areas include Serene Hills, Rough Hollow, Lake Pointe, Falconhead, Sweetwater and Spanish Oaks, along with other nearby neighborhoods west of Austin. Exact city limits, subdivision boundaries and jurisdictions should be verified for a specific property.
Is 78738 the same thing as Bee Cave?
No. Bee Cave is an incorporated city and community, while 78738 is a postal ZIP code covering a broader area. The ZIP includes properties associated with Bee Cave, Lakeway and other western Travis County communities. For how Bee Cave compares with the other markets in the ZIP, read Inside 78738.
Does this 78738 market report update automatically?
Yes. The embedded market report refreshes as the data provider updates the underlying market information. This page intentionally avoids manually typing changing median prices, inventory totals or days-on-market statistics into permanent editorial copy.
Can the 78738 median price be used to price my home?
Not by itself. A median describes the middle of a group of transactions. It does not adjust for community, section, lot, view, construction, condition, floor plan, privacy, pool, renovations, amenities or direct competition. A specific property requires a narrower comparable set.
Is price per square foot a reliable way to value a 78738 home?
Price per square foot can be a useful descriptive data point, but Diana does not use it as a pricing formula. Two homes with similar square footage can have materially different values because of site, utility, quality, view, condition, architecture, privacy, amenities and buyer alternatives. Read Diana's valuation approach.
Why can new construction affect the value of a resale home?
Buyers may compare a resale property with new homes offering different designs, warranties, upgrades, incentives or financing options. The effect depends on the community, price band, builder supply, completion timeline and how strongly the resale home is differentiated.
How is 78738 different from Lakeway 78734?
The markets overlap in buyer consideration but contain different housing patterns. 78734 includes much of established Lakeway and a larger mix of older, lake-oriented and golf-related housing. 78738 includes Bee Cave, Serene Hills, Rough Hollow and other newer and gated communities west of Austin. Buyers frequently compare both, which is why Diana maintains a separate 78734 Lakeway market report.
How does Diana's appraisal background help a buyer or seller?
Appraisal experience adds discipline to comparable selection, adjustments and reconciliation. Diana studies market conditions along with the subject's site, construction, condition, floor-plan utility, views, privacy, improvements and direct competition. When Diana is acting as a real estate advisor, that experience informs the brokerage strategy. A formal appraisal is a separate professional engagement, and her appraisal services are provided through The Appraisal Shop.
Where can I see current homes Diana is representing in 78738?
Start with Diana's current listings. Each property uses a permanent profile that remains available as the listing moves from active to under contract, pending, sold or off market.
What happens after a 78738 offer is accepted?
Under contract is a new phase of the transaction. Inspection, repair negotiations, appraisal, financing, title, insurance and contractual deadlines can all create decisions before closing. Diana's Under Contract guide explains how those pieces fit together.
Can I buy a home in Bee Cave or Serene Hills while I still live in another state?
Yes. Diana explains the lot, slope, views, construction and nearby competition that listing photos leave out, so your trip is spent on the right homes. She verifies taxing entities, utilities, HOA obligations and school assignment at the address. The Texas contract includes an option period with an unrestricted right to terminate, a title company holds the earnest money, and many closing documents can be signed through remote online notarization when the title company accepts it. See Moving to Austin.
Can Diana sell my 78738 home after I have already moved?
Yes. Diana lives in Serene Hills and can look after the empty house, meet vendors and keep it ready for showings while you settle into your new city. After you move out, Texas law requires notifying the appraisal district that the homestead no longer qualifies. If you are moving elsewhere in the US, Diana can introduce you to a Compass agent in your destination city. See selling your Austin home to move.
The Property-Level Answer
Know the market. Then understand the home.
Buying, selling or evaluating a home in 78738? Diana can move from the broad market report to the correct community, comparable set, property differences and strategy for the decision in front of you.
Diana Roberts · Austin Real Estate Advisor · Compass
Texas Agent · California Broker · Certified General Appraiser
512.888.8326 · diana.roberts@compass.com
This report is general information about the 78738 housing market. The embedded market data is provided and updated by a third-party data provider and may change at any time. Nothing on this page is legal, tax or school-assignment advice, and it is not an appraisal or an opinion of value for any specific property; verify jurisdiction, taxes, schools, utilities, restrictions and property facts at the individual address. Appraisal assignment ranges describe Diana's experience in aggregate and do not identify any property, client or assignment. Diana's HOA service is separate from her real estate and appraisal businesses and does not imply endorsement by the Serene Hills Homeowners Association. Diana Roberts provides real estate brokerage services through Compass in Texas. Her appraisal services are provided through The Appraisal Shop. Brokerage advice is not a formal appraisal assignment.