Lakeway

Lakeway's housing market is leaning toward buyers, holding fairly steady from last month. The composite score is -1.35 now, essentially unchanged from -1.55 a month ago.

About 21% of homes that closed in July sold at or above asking, and the typical sold home spent around ten weeks on the market. Close to 59% of what's currently listed has had at least one price cut. There's just under five months of supply on hand at July's pace of sales, keeping this in buyer-friendly territory.

Prices moved up noticeably — the median sold price is up 14% from June and up about 7% from a year ago. Worth a caveat: Lakeway's a smaller, higher-end market, so a handful of luxury closings can swing the median more than they would in a larger city. Forty-eight homes closed in July.

You've got solid leverage here — close to 6 in 10 active listings have already had a price cut, and homes are taking about ten weeks to sell. Take your time, and don't be afraid to negotiate hard on a property that's been sitting.

Price carefully and expect to negotiate — only about 1 in 5 homes are closing at or above asking. Because this is a smaller luxury-leaning market, a single well-priced or overpriced listing can stand out more than it would elsewhere, so get your comps right before you list.