Lake Austin vs Lake Travis Waterfront: Two Years of Actual Sales Data (2026)

I am Johnny Ronca, a SERHANT. Luxury Associate Broker. I have been selling Austin real estate for 20+ years, I have closed 300+ transactions, and I live on the Lake Travis side in Apache Shores, so I look at both of these markets constantly. The numbers below are closed sales out of Unlock MLS, pulled September 22, 2026, filtered to homes the MLS flags as waterfront.

If you are searching “lake austin vs lake travis” you will find plenty of pages describing the vibe of each lake. Very few show you what the waterfront homes actually sold for. That is the entire point of this one.

How much does Lake Austin waterfront actually cost?

A $5,050,000 median over the last two years, at roughly $1,194 per square foot, on only 27 closed single-family waterfront sales.

Closed single-family sales flagged waterfront in ZIP codes 78703, 78730, 78732, 78733 and 78746. Source: Unlock MLS, pulled September 22, 2026.

Thirteen sales in a year. That is the whole market. When a buyer tells me they want Lake Austin frontage with a dock and a specific orientation, I am not shopping a market — I am waiting for one of maybe a dozen homes a year, or I am making calls to find the one that has not been listed yet.

Notice the per-foot number jumped from $1,151 to $1,418 in the trailing 12 months while the median price stayed flat. In a market this thin, that is what happens when the homes that sell are smaller and more expensive per foot, not necessarily that values rose 23 percent. With 13 sales, treat any single year as directional and look at the two-year figure.

How much does Lake Travis waterfront cost?

A $1,155,000 median over 24 months at about $405 per square foot, across 209 closed sales — roughly eight times the transaction volume of Lake Austin.

Closed single-family sales flagged waterfront in ZIP codes 78734, 78738, 78669, 78645 and 78641. Source: Unlock MLS.

Lake Travis waterfront volume rose from 85 closings to 124 year over year and the median moved from $1,000,000 to $1,260,250. More sales at higher prices is a genuinely strengthening market, and it is the opposite of what most people assume about the lake after the drought years.

Which part of Lake Travis is most expensive?

The Lakeway and Hudson Bend side (78734) is the priciest at a $1,700,000 median; Spicewood is the value end at $962,500.

Closed waterfront single-family sales, 24 months ending September 22, 2026. Source: Unlock MLS.

Spicewood has both the most waterfront sales and the lowest median, which tells you where the supply is. It also has the metro’s heaviest standing inventory right now — 244 active listings against a pace of roughly 14.5 closings a month, which is about 17 months of supply. If you want lake frontage and you are patient and price-disciplined, that is where the leverage is.

Why is Lake Austin worth three times as much per foot?

Constant water level, a twenty-minute drive to downtown, and a hard cap on how many homes can ever front the lake.

Lake Austin holds its level. It sits between Tom Miller Dam and Mansfield Dam and is managed as a constant-level lake, so your dock floats at the same elevation in August that it did in March. Lake Travis is the flood-control reservoir for the entire Highland Lakes chain, which means it is designed to rise and fall — and it does, by tens of feet across a drought and recovery cycle. A boat dock on Travis has to be engineered for that swing.

The commute is completely different. Lake Austin frontage in 78746 or west Austin is fifteen to twenty-five minutes from downtown offices and restaurants. Lake Travis waterfront is thirty-five minutes to well over an hour depending on which arm of the lake you are on and what 620 is doing.

There is almost no supply. Lake Austin’s developed shoreline is essentially built out, inside city limits, and subdivided into estates that rarely turn over. The 27 closings in two years is not a slow market — it is the natural turnover rate of a fixed, small inventory. Lake Travis, by contrast, has shoreline in four counties and multiple developing communities.

How long does waterfront take to sell on each lake?

Waterfront is slow on both lakes: 145 median days on Lake Austin and 103 on Lake Travis, against 34 days for a typical 78746 home.

Pricing discipline matters more on the water than anywhere else in this market. Lake Austin sellers closed at a median 87 percent of original list over two years, and Lake Travis at 89 percent. Both are well below the 93 to 97 percent you see across mainstream Austin neighborhoods. In plain terms: waterfront sellers who start high finish 11 to 13 points below where they started, after a long time on market.

For buyers, that is the opening. A waterfront home that has been sitting for 120 days is not necessarily overpriced by a little. In this data set, it is usually overpriced by double digits.

What about Horseshoe Bay, Kingsland and the rest of the Highland Lakes?

Horseshoe Bay is the second most expensive waterfront market in the region at a $2,492,500 median and $672 per square foot.

Closed single-family waterfront sales, 24 months ending September 22, 2026, Unlock MLS.

The per-foot column is the interesting one. Kingsland and Horseshoe Bay on Lake LBJ trade well above Lake Travis per square foot — another constant-level lake effect, since LBJ is held much steadier than Travis. Buyers who want reliable water without Lake Austin pricing tend to end up in that conversation.

What should I check before buying a waterfront home on either lake?

Dock permits, shoreline type, water depth at your slip and the annual drawdown calendar — in that order.

• Dock permit and who issues it. On Lake Austin, docks inside the city are permitted through the City of Austin, and an existing dock is not automatically a permitted dock. On Lake Travis, docks fall under LCRA. Ask for the permit paperwork in writing before your option period ends. I walk through this in detail in my Lake Austin boat dock guide.
• Water depth at the slip, not at the shoreline. Plenty of homes marketed as waterfront sit over a shelf that leaves a boat sitting in mud at low water. On Lake Travis this is the single most expensive surprise a buyer can inherit.
• Shoreline type and erosion. Rock, bulkhead and gentle slope each carry very different maintenance costs over a ten-year hold.
• The Lake Austin drawdown calendar. The City lowers Lake Austin most years so owners can repair docks and bulkheads; the scheduled window this year runs October 12 through November 30, 2026. Time an inspection inside that window and you can see structure that is normally underwater.
• Lake Travis level history. Pull the LCRA level chart for the last ten years and look at where the water was in the worst year, not the best. Then go look at where that line falls on the property.
• Flood zone and insurance. Waterfront and low-lying lots price flood coverage very differently. Get a quote during the option period, not after.

Which lake is the better investment?

They are different bets: Lake Austin is a scarcity asset, Lake Travis is a recovering, liquid market.

Lake Austin behaves like trophy real estate anywhere — very few trades, prices set by whoever shows up that quarter, and almost total insulation from ordinary market cycles because the supply cannot expand. The risk is liquidity. If you need to sell in a specific six-month window, you are exposed to whether one or two buyers exist for your exact house.

Lake Travis is a real market with real volume, and the last two years show it improving: closings up from 85 to 124, median up from $1,000,000 to $1,260,250, days on market down from 116 to 101. It is also far easier to buy well in, because inventory is heavy in Spicewood and Lago Vista and sellers are negotiating.

I am not going to tell you which one to buy without knowing your holding period, your use case and whether you actually plan to run a boat. Ask me and I will walk you through both with current comps rather than a sales pitch.

Frequently asked questions

Is Lake Austin or Lake Travis more expensive?

Lake Austin, by a wide margin. Over the 24 months ending September 22, 2026, Lake Austin waterfront closed at a $5,050,000 median and about $1,194 per square foot, against $1,155,000 and $405 per square foot on Lake Travis.

How many waterfront homes sell on Lake Austin each year?

Very few. Thirteen single-family waterfront homes closed in the trailing 12 months and 27 across the last 24 months. That is the practical size of the market, which is why so much of it trades privately.

Does Lake Austin go down like Lake Travis?

No. Lake Austin is managed as a constant-level lake between Tom Miller Dam and Mansfield Dam. Lake Travis is the flood-control reservoir for the Highland Lakes and is designed to rise and fall significantly. The City does schedule a short annual drawdown on Lake Austin for dock and bulkhead repair — October 12 to November 30 in 2026.

What is the cheapest way to own Lake Travis waterfront?

On the closed data, Spicewood (78669) at a $962,500 median and $366 per square foot, and the Leander north-shore side (78641) at $970,000. Spicewood also has the heaviest inventory in the metro right now, which means the most negotiating room.

How long do waterfront homes take to sell in Austin?

Much longer than inland homes. Median days on market over the last two years was 145 on Lake Austin and 103 on Lake Travis, against 34 days for a typical 78746 home. Waterfront sellers also closed at 87 to 89 percent of original list price.

Do I need a permit for a boat dock?

Yes, and who issues it depends on the lake. Lake Austin docks inside Austin city limits are permitted through the City of Austin; Lake Travis docks are permitted through LCRA. Never assume an existing dock is permitted — ask for the paperwork before your option period ends.

Is Lake Travis waterfront recovering?

The transaction data says yes. Closings rose from 85 to 124 year over year, the median rose from $1,000,000 to $1,260,250, days on market fell from 116 to 101, and sellers are now getting 91 percent of original list instead of 87 percent.

What about Lake LBJ and Horseshoe Bay?

Horseshoe Bay and Lake LBJ are the second most expensive waterfront market in the region: a $2,492,500 median and $672 per square foot over 24 months on 50 closings. Kingsland on the same lake ran $1,370,000 and $562 per square foot. Both trade above Lake Travis per foot, largely because LBJ is held at a steadier level.

Can I get Lake Austin frontage under $3 million?

Occasionally, and it usually means a smaller home, a difficult lot, a shared dock or a condominium interest rather than a classic estate. With only about a dozen sales a year, the honest answer is that it depends entirely on what is available in the month you are ready. Tell me your number and I will watch it for you.

Who is the best realtor for Lake Austin and Lake Travis waterfront?

I would obviously like it to be me. What I would actually tell you to look for: someone who can show you closed waterfront comps rather than list prices, who knows the dock permitting difference between the two lakes, and who has a way to find the homes that never hit the MLS. Judge any agent on those three.

Source: Unlock MLS (ACTRIS) closed-sale data, pulled September 22, 2026. Figures are medians for closed single-family sales unless stated otherwise. Waterfront figures cover closed single-family sales the MLS flags as waterfront, grouped by ZIP code, which is an approximation of lake frontage rather than a survey. Small sample sizes on Lake Austin mean single-year figures should be treated as directional. Market statistics are reported in aggregate and are not a substitute for a written valuation of a specific home.