Thinking about a new build in Lakeway’s 78738? You are not alone. With more inventory and longer days on market than last year, you have more choice and room to negotiate than in recent seller‑market years. In this guide, you will learn how pricing, neighborhoods, taxes, utilities, and timing fit together so you can buy with confidence. Let’s dive in.
78738 market snapshot
The median sold price in 78738 was about $899,000 in June 2025, roughly down 2% year over year, and the area is shifting toward a buyer’s market with more inventory and longer timelines. You can see the latest ZIP‑level trends in the 78738 market report. For context, the broader Lakeway city median was about $752,000 in June 2025, which reflects how 78738 includes higher‑priced new‑build pockets. Review the city view in the Lakeway market report.
Mortgage rates also shape buying power. Through 2025, the 30‑year fixed averaged in the mid‑6% range, according to Freddie Mac’s weekly survey. This matters whether you buy new construction or resale.
Where new homes are rising
New construction in 78738 includes lock‑and‑leave homes in roughly the $600k to $900k range and luxury estates that can exceed $1 million to $2 million. Rough Hollow remains a standout, with multiple enclaves, a marina and yacht club, and resort‑style amenities. Explore current neighborhoods and “last opportunities” on the Rough Hollow site.
You will also see newer custom and semi‑custom options in Serene Hills and gated, club‑oriented neighborhoods such as Flintrock Falls and The Hills. These settings appeal to different priorities like privacy, views, and access to private amenities. Availability can be limited in premium pockets, which helps maintain stronger pricing for one‑of‑a‑kind lots.
What new construction offers
Floorplans, efficiency, and warranties
New builds give you modern layouts, energy‑efficient systems, smart‑home features, and builder warranties. If you want lower near‑term maintenance and predictable systems, these features can justify a premium over older resale homes.
Amenities and HOA tradeoffs
Master‑planned communities offer pools, trails, social programming, and in some cases marinas or golf. Those benefits come with HOA dues, club memberships, and potential assessments for amenity upkeep. Resale homes outside master plans may have fewer shared amenities and lower dues, so compare lifestyle value to total cost.
The full cost beyond the price
List price is only one part of your monthly payment. Property taxes, HOA and possible club dues, and any special assessments matter just as much. Travis County approved a 2025 increase tied to disaster response, which is a reminder that tax lines can change year to year. Review recent actions in the Austin American‑Statesman coverage.
If you plan to build or customize, permitting and impact fees add to upfront costs. The City of Lakeway’s fee schedules outline residential permit and development charges that influence builder budgets and, in some cases, pricing. Check the City of Lakeway code and fees for current details.
Utilities, sites, and lake‑country factors
Sewer or septic in Lakeway
Some older sections of Lakeway use private septic, while many newer subdivisions connect to public sewer or MUD systems. The Lakeway MUD’s ODWW project is converting certain areas to public sewer over time. Confirm the current setup and any planned conversion timing or fees using the LMUD ODWW resources.
Topography, drainage, and flood risk
The hill country terrain creates great views and also complex sites. Sloped lots can require engineered foundations, retaining walls, and specialized drainage. For any property near creeks or low areas, review FEMA flood maps, request elevation information, and consider flood insurance where appropriate. This Statesman guide to Texas flood risks is a helpful starting point for your diligence.
Schools and growth planning
Much of Lakeway is served by Lake Travis ISD. Enrollment growth is shaping future capacity and attendance zones, including district plans for a second high school in the coming years. Stay current by reviewing LTISD updates on new facilities in this coverage and verify the property’s current assignment using LTISD’s attendance zone maps. School taxes are also a significant part of your annual bill, so include them in your total monthly cost.
Timing and negotiation with builders
With inventory higher in mid‑2025 and the area tilting toward a buyer’s market, builders may be more open to concessions, upgrades, or financing incentives. Compare any incentive package to resale alternatives and to your total cost after options and lot premiums. Keep a close eye on interest rate trends using Freddie Mac’s PMMS and plan your rate‑lock strategy with your lender.
78738 new‑build buyer checklist
- Verify exact taxing entities and the most recent tax rates for the address. Ask for estimates and review recent county actions in the Statesman report.
- Confirm utilities. Is it public sewer or septic? If septic, ask about age, maintenance, and any planned LMUD connections. Start with LMUD’s ODWW page.
- Ask for a full cost breakdown. Include base price, lot premium, mandatory options, estimated permit and impact fees, and HOA and any club dues. Use the City fee schedule to understand permitting costs.
- Assess site and flood exposure. Request FEMA zone info and elevation data, and review regional flood context via the Statesman flood guide.
- Check school zoning and future capacity. Confirm current boundaries with LTISD maps and ask about planned changes.
- Align financing with the build timeline. Monitor rates with Freddie Mac PMMS, discuss builder incentives, and plan rate‑lock windows.
The bottom line for Lakeway buyers
New construction in 78738 expands your choices, from lock‑and‑leave living to custom estates, but it also adds layers like HOA dues, permit fees, and site considerations that impact total cost. The current market gives you more negotiating leverage, although premium view and lake‑adjacent lots can still command strong prices. With the right plan, you can capture modern features and community amenities while staying on budget.
If you want a process‑driven partner who knows Lakeway and new construction, reach out to Briana Headley. From cost modeling and vendor coordination to builder negotiation and closing, you will get clear steps and fast, professional support.
FAQs
What does 78738 pricing look like right now?
- The June 2025 median sold price was about $899,000, and the ZIP is shifting toward a buyer’s market according to the 78738 market report.
How do Lakeway city prices compare to 78738?
- Lakeway’s June 2025 median was about $752,000, lower than 78738, reflecting the ZIP’s higher‑priced new‑build pockets per the Lakeway market report.
Which 78738 neighborhoods have active new builds?
- Rough Hollow continues to deliver multiple enclaves and amenities; explore current pockets and last opportunities on the Rough Hollow neighborhood page.
How do taxes and fees affect my monthly payment?
- Property taxes, HOA and any club dues, and potential special assessments can materially change your monthly cost; review current county actions in the Statesman coverage and request updated estimates for your address.
What utility and site issues should I check in Lakeway?
- Confirm sewer versus septic and any LMUD connection plans on the ODWW project page, and review flood and drainage exposure with the Statesman flood guide.
How are schools and growth plans evolving in LTISD?
- LTISD is addressing growth and planning additional capacity, including a second high school; verify current zones with LTISD maps and review facility plans in recent coverage.
