Falconhead Market Report: 78738 Median Up 10.5%, but Price Per Square Foot and Sales Slip
For the three months ending October 2026, the median sale price in ZIP 78738, which includes Falconhead, was $917K, up 10.5% year over year, but price per square foot fell 6.6% and October sales dropped to 158 from 197.
78738 median up 10.5% year over year
$917K for the three months ending October 2026, down from $977K in the August window.
Price per square foot down 6.6%
$276 per square foot, which suggests larger homes drove the higher median.
83 days to sell
Faster than 101 days a year earlier, slower than 69 days in the August window.
October sales down 19.8%
158 homes sold in 78738 in October 2026 versus 197 in October 2025.
ZIP-wide data, not subdivision data
Falconhead-only sales are too thin to report, so all figures describe ZIP 78738.
The short answer: the ZIP that holds Falconhead still shows a higher median price than a year ago, but the picture shifted this fall. Price per square foot turned lower and October sales fell.
Falconhead-only sales are too few to measure cleanly, so every figure here covers ZIP 78738 as a whole, which also takes in parts of Lakeway, The Hills and other Bee Cave neighborhoods. Treat it as the market around Falconhead, not a subdivision price.
Prices. Over the three months ending October 2026, the 78738 median sale price was $917K, up 10.5% from the same period in 2025, according to Redfin. Median price per square foot was $276, down 6.6%. Our last report, covering the three months ending August, found the median up 13.3% and price per square foot up 5.8%. A rising median alongside a falling price per square foot usually means larger homes made up more of what sold, so the 10.5% gain says more about the mix than about like-for-like values.
Pace. Homes sold after a median 83 days, faster than 101 a year earlier but slower than the 69 days in the August window. Redfin counted 158 homes sold in October 2026, down from 197 in October 2025. Our last report found sales rising; October points the other way.
Pricing. Sale-to-list rose 0.5 points to 97.1%, and 9.7% of homes sold above list, up 3.6 points. Price drops hit 40.8% of homes, about level with a year ago. In the last report they had fallen 8.7 points, so that improvement has not continued.
Inventory. On November 11, 2026, Redfin showed 215 active houses, condos and townhouses in 78738. Fifteen asked $500K or less, 103 asked between $500K and $1M, 56 asked $1M to $2M and 41 asked more than $2M. Last report's count covered single-family houses only, so the two are not directly comparable.
What to do with this. Sellers: price from recent nearby comps rather than the ZIP median, and plan for a runway of roughly three months. Buyers: with four in ten homes taking a price cut, there is room to negotiate on listings that have sat, though homes still closed close to asking on average.
About this report. Jonathan Creath is a Real Estate Advisor with Kuper Sotheby's International Realty and part of Creath Partners, the family business his father Garry Creath founded in 1971 and brought to Austin in 1989. Creath Partners' office is at the Hill Country Galleria in Bee Cave, a few minutes from Falconhead. TREC License #547237.
Falconhead as of November 11, 2026
These figures are frozen at publication. The Falconhead guide carries the current month's numbers.
Every number, and where it came from.
The median sale price in 78738 was $917K over the three months ending October 2026, up 10.5% year over year; median price per square foot was $276, down 6.6%.
redfin.com ↗Homes in 78738 sold after a median 83 days versus 101 a year earlier; 158 homes sold in October 2026 versus 197 in October 2025.
redfin.com ↗Sale-to-list in 78738 was 97.1%, up 0.5 points; 9.7% of homes sold above list, up 3.6 points; 40.8% had price drops, down 0.28 points.
redfin.com ↗Active listings (houses, condos and townhouses) in 78738 on November 11, 2026: 215 total; 15 at $500K or less, 118 at $1M or less, 174 at $2M or less.
redfin.com ↗Lake Travis was 98.9% full on November 11, 2026, at 680.35 feet, versus 93.5% a week earlier, 94.8% a month earlier and 80.2% a year earlier.
waterdatafortexas.org ↗Bee Cave Parkway and Bee Cave Road pedestrian improvements, $1.06 million, construction expected to begin March 2027.
communityimpact.com ↗2026 Bee Cave Holiday Market dates and times at the Hill Country Galleria central plaza.
pennyvproductions.com ↗Falconhead, Falconhead West and Bee Cave West are listed as neighborhoods in the City of Bee Cave.
beecavetexas.gov ↗Falconhead Golf Club, 15201 Falcon Head Blvd, is a public course designed by Chris Gray.
golfdigest.com ↗Falconhead Golf Club is a par-72 course of 7,181 yards that opened in 2003.
pga.com ↗The Bee Cave Hike and Bike Trail runs 1.5 miles from Falconhead Blvd south along 620 to Central Park and the Galleria; the Central Park perimeter trail is just over 1 mile.
beecavetexas.gov ↗Bee Cave kept its tax rate at $0.0200 per $100 valuation and approved a nearly $26 million FY 2026-27 budget with a $1.49 million surplus; Lake Travis ISD adopted $1.0329, down from $1.0397.
communityimpact.com ↗Falconhead feeds into Lake Travis ISD, with elementary students attending Lake Pointe Elementary or Bee Cave Elementary.
neuhausre.com ↗GreatSchools rates Lake Pointe Elementary 10/10 and Bee Cave Elementary 8/10.
redfin.com ↗Bee Cave Farmers Market runs every Sunday 10AM to 2PM in the Hill Country Galleria central plaza, rain or shine; 2026 Bee Cave Holiday Market dates.
pennyvproductions.com ↗Bee Cave Public Library is at 4000 Galleria Pkwy; a library card requires only an ID.
beecavetexas.gov ↗
All metrics are ZIP 78738-wide, not Falconhead-specific: Redfin's calculations from MLS and public records over the three months ending October 2026, checked on Redfin's live page on November 11, 2026. Oct Sales counts homes sold in October 2026 against October 2025. The price distribution is not from a banded source: it is a count of the 215 active listings (houses, condos and townhouses, lots excluded) Redfin showed for 78738 on November 11, 2026, so it reflects asking prices of current inventory, not closed sales. The September report counted single-family houses only.
