| The small, shore front community of Lakeway, | | | | the 1970s, Lakeway benefited greatly. During this |
| Texas is an interesting city with a success story | | | | time population growth started in the city and has |
| all its own. What started as a simple beachfront | | | | continued ever since. What started as a simple |
| resort on Lake Travis has slowly become more | | | | hotel and resort has now become a municipality |
| than just a small community but an actual | | | | with over 8,000 residents. The town has its own |
| functioning municipality based on the ideals of small | | | | governing body ran from City Hall, as well as a |
| town living and beachfront relaxation. | | | | 200,000 square-foot medical facility, the Lakeway |
| The small community started out as nothing more | | | | Regional Medical Center. |
| than a small beachfront resort. Opened in 1962, | | | | Like many other Austin-area suburbs, Lakeway |
| the Lakeway resort and spa hotel was intended | | | | has been largely unaffected by the housing crisis. |
| to simply be another stop on the beach of Lake | | | | As opposed to some other area suburbs, the |
| Travis. However, the level of detail put into | | | | popularity of the town has caused Lakeway to |
| construction of the resort made a very popular | | | | have an extremely high median home price. Prior |
| destination, and very quickly the surrounding land | | | | to the housing crisis, values in the area rose to an |
| plots were split up and began to be sold. Initially, | | | | average level of $315,000. The average price held |
| these plots were sold to Austin residents, and for | | | | strong throughout 2006 and 2007, but did see a |
| the most part the homes that were built on | | | | slight fall in 2008 and 2009. The average home |
| these plots were all second homes and vacation | | | | price dipped and found its bottom in late 2009, |
| properties. | | | | around the $285,000 range. In the last quarter of |
| The beauty of the area proved to be too much | | | | 2009, Lakeway has started to see its prices |
| temptation for the owners of these properties, | | | | increase again, and now the average home price |
| however. Slowly the owners of the homes | | | | is back around $295,000. |
| started staying longer and longer, and eventually | | | | Despite the dip in home prices, Lakeway has |
| what started as a beachfront resort turned into a | | | | continued to perform well in terms of number of |
| small beachfront community. The community | | | | homes sold. There has been little decrease in |
| slowly grew and became a popular destination for | | | | number of properties sold throughout the entirety |
| Austin residents. | | | | of the recession. |
| When Austin saw its great population explosion of | | | | |