The actual waterfront property has doubled and sometimes even more than doubled. The main reason is supply and demand. As more people more here from Cali and other places, they have ample cash to drive the lakefront prices skyhigh. There is limited actual lakefront property and the values have risen because of it.
The lots near the lake that are landlocked have risen in value exponentially. Even the lots on the east side of 620 have risen dramatically in the last few years because everyone wants to be close to the lake. Historicaly the east side of 620 was a no mans land of boat storage facilities, fireworks stands and trailers. That has all changed in the last few years. There are now some lovely homes for $300K-500K on the east side. Of course if you go west of 620 that price goes north.
You may be interested to know the Lake Travis ISD has an excellent reputation. Go check out the schools in the Austin area at http://www.SchoolMatters.com.
If you want specifics or to see actual properties that are available, call me. I work in central Austin and Lake Travis exclusively.
Here is a link to the articles in the Austin-Statesman, regarding the value lake front properties. You might have to create a login to access the articles themselves. Nothing in the articles really speaks to the value of land over time.
As for value, it depends on what you define as waterfront. If you mean land abutting navigable waters, then don't use the Austin Board of Realtors definition of Waterfront, which includes everything from a dry creek to Lake Travis. Presuming you mean land abutting navigable waters, then the data indicates that since '04, for lot values alone, many areas, especially those on Lake Austin, Travis and along the main tributaries, have increased in value well over double since '04.
A lot of the value increase depends on many factors. If the land has been improved, that is, it has a home on it, then the larger the value of the improvement, the less likely it is that the property is double it's value from '04. More likely, improved land along the above shores has increased in value less than 50%, primarly 2004 was our coming out year from the slow times of '02 and '03, so values were on the rise. If you asked the same question from late '01 or '02, I think you could see well in excess of 50% increases in value for improved land.
The land by itself though, in most instances, has clearly more than doubled in value. In fact, depending on the lot's access to the water, whether the land permits building above the newest high water level, how deep the water is that can be accessed directly from the lot, whether or not the lot would allow a boat dock, and if the lot has a view, some locations have seen a 3x to 4x increase in value as the supply becomes constrained.
Are you curious because of a tax assessed value issue, for the value of selling your home, or just curious in general?
Hope that answers your question. If you'd like for specific information about waterfront on lake travis, feel free to call or email me back. I'd be happy to help.
Hello and thanks for a great question. In this past Sunday's Austin American Statesman, there was an awesome article on this very topic. The essence of the article is how much in demand lake property has become for central texans. I would be glad to send this to you if you do not have it.
The value has been increasing as more and more people as well as communities are developed along the shore. This is absolutely driving the value of waterfront property through the rough.
There are some areas around the lake where you can get decent off water, but with great views for somewhat reasonable rates.
Let me know if I can help anymore.
Ritch Haenke, Realtor(r)
Coldwell Banker, United Realtors