Market Overview for Zip Code 78738
There are 265 active listings in Zip Code 78738 with a median list price of $960K and a median sold price of $908K.
Homes average 47 days on market.
Over the past 30 days, 68 homes have sold, with 684 sales in the past 12 months.
The average price per square foot is $322.
About Zip Code 78738
Zip code 78738 covers the Bee Cave and Lakeway areas of southwest Travis County, situated along the Highway 71 corridor between Oak Hill and Lake Travis. The area extends roughly from Highway 71 on the north to the Hays County line on the south, and from FM 620 on the east to Hamilton Pool Road on the west. Bee Cave, an incorporated city of approximately 7,000 people, serves as the commercial center of the zip code. The terrain is hilly with limestone bluffs, seasonal creek drainages, and mixed oak and juniper woodland. The area sits approximately 15 to 20 miles west of downtown Austin and has experienced significant residential and commercial growth since the early 2000s.
Real estate in 78738 includes master-planned communities, gated subdivisions, and custom homes on Hill Country lots. Falconhead, a golf course community, features homes from 2,200 to 5,000 square feet priced from $550K to $1.2 million. Spanish Oaks, a gated community with a private golf course, has homes from $1 million to $4 million. Lake Pointe offers family-oriented housing from $475K to $750K. The median home price across 78738 is approximately $675K. Condominiums and townhomes near the Hill Country Galleria provide options from $350K to $550K. Newer subdivisions continue to open on the western and southern fringes of the zip code.
Students in 78738 attend Lake Travis ISD, which serves approximately 11,500 students across 11 campuses. Elementary schools in the area include Bee Cave Elementary and Lake Pointe Elementary. Lake Travis Middle School covers 6th through 8th grade with approximately 1,200 students. Lake Travis High School enrolls about 3,000 students and maintains a graduation rate above 97 percent. The district is known for strong college preparation, competitive athletics including a five-time state championship football program, and performing arts programs.
Highway 71 provides the primary east-west transportation route through 78738, connecting east to MoPac and downtown Austin and west to Bee Cave and Spicewood. FM 620 runs along the eastern edge connecting north to Lake Travis and south to Dripping Springs. Commute times to downtown Austin are typically 20 to 35 minutes via Highway 71 to MoPac. The Hill Country Galleria, an open-air shopping center in Bee Cave, anchors the commercial district with a movie theater, Whole Foods Market, and dozens of restaurants and retailers. The Shops at the Galleria and the Bee Cave commercial corridor along Highway 71 have expanded significantly, reducing the need for trips into central Austin.
Living in Zip Code 78738
Bee Cave and Lakeway residents are predominantly upper-middle-income families and professionals. Median household income in 78738 exceeds $140,000. The area attracts families seeking Lake Travis ISD schools and newer construction in a Hill Country setting within reasonable commuting distance of Austin's employment centers. A notable population of retirees and semi-retired residents also lives in the golf course communities and gated subdivisions. Many working residents commute to offices along the MoPac corridor, in downtown Austin, or in the southwest Austin technology campuses.
The Hill Country Galleria serves as the social and commercial hub of the area, hosting Whole Foods Market, Trader Joe's, restaurants including Vince Young Steakhouse and Jack Allen's Kitchen, a cinema, and seasonal community events on its outdoor plaza. Falconhead Golf Club offers an 18-hole public course designed by PGA Tour player and architect. The Backyard at Bee Cave, a well-known outdoor music venue, has hosted national touring acts. Lake Travis is about 10 minutes north via FM 620 for boating and swimming. The area also provides access to Hamilton Pool Preserve, about 20 minutes west, and numerous Hill Country wineries along Highway 290 toward Fredericksburg. Bee Cave Central Park has walking trails, a playground, and sports fields used by youth leagues.
Things to Do in Zip Code 78738
- Hill Country Galleria: Open-air shopping and dining center with Whole Foods, Trader Joe's, a cinema, restaurants, and seasonal events on the outdoor plaza.
- Falconhead Golf Club: 18-hole public golf course in the Falconhead community with Hill Country views and a pro shop.
- Hamilton Pool Preserve: Travis County natural area about 20 minutes west with a 50-foot waterfall and grotto swimming hole. Reservations required in peak season.
- Bee Cave Central Park: City park with walking trails, playground, sports fields, and a covered pavilion used for community events and youth leagues.
- Lake Travis Access: Lake Travis is about 10 minutes north via FM 620 with boat ramps, marinas, and waterfront restaurants for boating and swimming.
Major Employers in Zip Code 78738
- Lake Travis ISD (Education): District employing approximately 2,000 staff across 11 campuses, headquartered in the Bee Cave area.
- Baylor Scott & White Lakeway (Healthcare): Hospital and medical campus on FM 620 with emergency department and specialty clinics, several hundred employees.
- Whole Foods Market (Retail/Grocery): Flagship store at the Hill Country Galleria serving as a major grocery anchor for the Bee Cave area.
- City of Bee Cave (Government): Municipal government providing police, parks, planning, and utility services for the incorporated city.
- Pedernales Electric Cooperative (Utilities): Electric cooperative headquartered in Johnson City serving the Hill Country region with offices in the Bee Cave area.
Zip Code 78738 Schools
78738 is served by Lake Travis ISD with approximately 11,500 students and a high school graduation rate above 97 percent.
School District: Lake Travis ISD
Public Schools
- Lake Pointe Elementary
- Bee Cave Elementary
- Lakeway Elementary
- Bee Cave Middle
- Hudson Bend Middle
- Lake Travis Middle
- Lake Travis High School
Pre-Schools
- Primrose School of Bee Cave - Accredited private preschool near the Hill Country Galleria serving infants through pre-K.
- Bee Cave Montessori - Montessori early childhood program near Highway 71 in Bee Cave.
Private Schools
- The Regents School of Austin - Classical Christian school on Bee Caves Road offering pre-K through 12th grade, about 10 minutes east.
- Summit Christian Academy Lakeway - Private school in the Lakeway area offering pre-K through middle school.
Frequently Asked Questions
What school district is 78738 in?
78738 is served by Lake Travis ISD. Lake Travis High School enrolls about 3,000 students and has a graduation rate above 97 percent with competitive academics and athletics.
What is the median home price in 78738?
The median home price in 78738 is approximately $675K. Prices range from $350K for condos near the Galleria to over $4 million in gated communities like Spanish Oaks.
How far is Bee Cave from downtown Austin?
Bee Cave is approximately 15 to 20 miles west of downtown Austin. Commute times run 20 to 35 minutes via Highway 71 to MoPac.
What shopping is in Bee Cave?
The Hill Country Galleria is the main shopping center with Whole Foods, Trader Joe's, a cinema, and dozens of restaurants and shops. Additional retail along the Highway 71 corridor continues to expand.
Is 78738 near Lake Travis?
Lake Travis is about 10 minutes north of Bee Cave via FM 620. Boat ramps, marinas, and waterfront dining are accessible at multiple points along the lake.