A guide to Lakeway's neighborhoods
Lakeway is not one neighborhood but a city of roughly 40 numbered sections plus several gated communities, and prices vary widely between them. The original Lakeway sections near the marina date to the 1960s and 1970s and generally trade below the newer developments. Gated golf communities including Flintrock and The Hills of Lakeway sit at the upper end, and newer construction in Serene Hills and Rough Hollow commands the highest prices per square foot. Mary Hickey has closed 151 sales in Lakeway proper since 2002.
The original sections
Lakeway was developed starting in the 1960s around the marina and the original golf course, and the city still records addresses by section number. Sections 1 through roughly 30 are the older core, with lots that tend to be larger and more irregular than modern subdivisions and homes that range from original 1970s construction to complete rebuilds.
Mary's closings across these sections give a sense of the spread. Section 2 has a median around $577,000 in her record, Section 22 around $523,750, Sections 26 and 28 in the mid $300,000s, and Section 4 around $680,450. The variation inside a single city comes down to lot, view, and whether the house has been updated.
Gated and golf communities
Several gated communities sit inside or adjacent to Lakeway, each attached to different amenities and different price expectations.
- Flintrock, built around Flintrock Falls Country Club. 15 closings in Mary's record at a median of $845,000, top sale $1,885,000
- The Hills of Lakeway, a separate incorporated village with its own country club. 65 closings, median $430,000, reflecting a wide mix of phases
- The Coves at Lakeway, a small waterfront-oriented community. Six closings, median $1,250,000, five of them above $1 million
- Alta Vista, gated with the Ridge and Enclave sections. 20 closings, median $566,225
- Serene Hills, newer construction on the west side of the city. Median $1,779,750 in her record, though from only two closings
What separates a good Lakeway lot from an ordinary one
Three things move price here more than square footage does. Whether the lot has a genuine long view of the lake or hills, whether it backs to greenbelt or to another house, and whether the property is on septic or city sewer.
Slope matters too, and buyers from flatter markets underestimate it. A steep lot can mean expensive access, limited usable yard, and higher costs on any future addition. Walk the actual lot before you fall in love with the photographs.
Common questions
What is the median home price in Lakeway?
Across the twelve months ending July 2026, Lakeway closings ran to a median near $720,000 with about 71 days on market and roughly $293 per square foot. Individual sections vary widely around that figure, so a citywide median is a starting point rather than an answer for your address.
Which Lakeway neighborhood is most expensive?
By recent closings, the newer west-side construction in Serene Hills and the waterfront-oriented Coves at Lakeway sit at the top, both with medians above $1.2 million in Mary's record. Flintrock follows at a median around $845,000.
What school district serves Lakeway?
Lake Travis Independent School District serves the great majority of Lakeway addresses. Attendance boundaries are set by the district, change from time to time, and do not follow subdivision lines, so confirm the assigned campus for a specific address directly with LTISD before relying on it.
Is Lakeway on city sewer or septic?
Both, depending on the section. Many older properties are on septic while newer developments are typically on the municipal system. This is a specific question to ask about any address, since septic affects inspection, maintenance cost, and what you can build.
Does Lakeway have HOA fees?
It varies by community rather than by city. The original Lakeway sections often have modest or no mandatory HOA, while gated and golf communities carry meaningful dues and sometimes club membership requirements. Always ask for the current dues, the transfer fee, and any assessment under discussion.
How far is Lakeway from downtown Austin?
Roughly 25 miles by road via RM 620 and either Highway 71 or FM 2222. Travel time varies substantially with time of day, and the corridor is a genuine consideration for anyone commuting daily. Drive it at your actual commute hour before committing.
Which sections have lake views?
View is lot-specific rather than section-specific. Sections closer to the water and higher on the ridgelines have more of them, but two adjacent lots can differ completely depending on elevation and tree cover. Views are also affected by lake level.
Is Lakeway a good place to buy a lot and build?
It is done regularly, and Mary has closed 103 lot and acreage sales across her record. The things that decide whether a specific lot works are slope, access to utilities, septic feasibility if there is no sewer, and the architectural control requirements of the relevant HOA.
How long do homes take to sell in Lakeway?
Roughly 71 days on market for the twelve months ending July 2026, though the upper tier typically takes considerably longer. Across Mary's own listings the average from list date to close is about 155 days.
Who can tell me about a specific Lakeway street?
Call Mary at (512) 796-4245 with the address. With 151 closings in Lakeway proper and residence in the area since 1990, she can usually speak to the specific section, and will say so when she cannot.