Master-Planned Community
The Overlook at Westlake
Lost Creek, west Austin (78746), Austin, Texas. An honest, buyer-side guide to the builders, amenities, schools, taxes, and tradeoffs.
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The short answer
The Overlook at Westlake is a 48-homesite gated community on 37.25 acres in Lost Creek, built by MileStone Community Builders on the former Marshall Ranch parcel. It matters out of proportion to its size because it is one of the very few genuinely new-construction options inside Eanes ISD, a district that is otherwise almost entirely built out. Homes run roughly 3,300 to 5,300 square feet on quarter-acre to three-quarter-acre lots, and the active listings currently range from about $3.3 million to $5.3 million.
Buyer-side notes by Luke Allen · Updated October 2, 2026· Figures approximate, verify current specifics
Live from the MLS
5 new homes for sale in The Overlook at Westlake
- Median price
- $4,717,046
- Median $/sq ft
- $955
- Median size
- 4,937 sf
- Typical home
- 5 bd
Live medians across the active new-construction listings in The Overlook at Westlake, straight from the MLS. See the full Austin market report.
New Construction
Built 2026
Built 2026
Built 2026
Built 2026Based on information from Unlock MLS (the Austin Board of REALTORS, ACTRIS) for the period through the most recent sync. Listing data is provided for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. All information is deemed reliable but is not guaranteed and should be independently verified. Properties may be listed by brokerage firms other than Austin Marketing + Development Group; the listing broker is shown with each home where the MLS provides it.
At a glance
The facts that actually matter
- Developer
- MileStone Community Builders
- Location
- Lost Creek, west Austin (78746), Austin 78746
- School district
- Eanes ISD
- Price range
- Active MLS listings in the community range from about $3,325,990 to $5,259,189 as of early October 2026, at a median near $4.7 million and roughly $955 per square foot. When the development was announced in December 2025 the stated range was $2.85 million to $5 million, so the lower end has moved up as the early homesites sold. Published plan pricing has included the Ridgeline from about $3.25 million and the Vista from about $3.51 million.
- Commute
- Lost Creek sits off Loop 360 in west Austin, roughly 15 to 20 minutes to downtown off-peak and about 10 to 15 to the Westlake and Loop 360 office corridor. The airport is 25 to 35 minutes. As with everywhere on the west side, Loop 360 and MoPac both slow sharply at rush hour, so drive your own route at your actual hours before committing.
- Scale
- 37.25 acres, 48 homesites
Who builds here
Builders
Home types
- Detached single-family
- To-be-built with finish selections
- 3,827 to 5,266 sq ft on current listings
Lifestyle
Amenities
- Gated entry, with streets including Eternity Terrace, Eanes Homestead Road, and Marshall Ranch Road
- Lots from roughly 0.27 to 0.59 acres on current listings, with some flat homesites
- Views toward downtown Austin or the Omni Barton Creek Resort from parts of the site
- All-inclusive pricing model, with pool and enhanced landscaping available within the package
- The historic Eanes Cemetery, burial site of Robert and Eliza Eanes, preserved within the community
- A new water tower on the northeast side of the property serving the development
Read this before the base price
Taxes
The significant tax point is what this community is not: an Austin city address in Eanes ISD generally avoids the MUD rates that push suburban master plans toward 2.5 to 2.8 percent. That does not make it cheap, since the rate applies to a multi-million-dollar value, but the combined rate is the ordinary city, county, and Eanes ISD stack rather than a district on top. Confirm the exact rate for the specific lot.
How MUD and PID taxes work →Monthly cost
HOA and dues
A gated community inside the City of Austin limits, so city services apply. Confirm the current HOA dues, what they cover, and the governing documents directly with the builder before you contract, as figures for a community still in delivery change.
Honest tradeoffs
The pros and the cons, both
No community is perfect. Here is the case for and against, the way I would give it to a client.
The case for
- One of the only new-construction opportunities inside Eanes ISD, a district that is effectively built out and where almost every other purchase is a resale or a teardown
- Zoned to Westlake High School, with Forest Trail Elementary serving the community
- City of Austin address with no MUD, unlike the suburban master plans at a fraction of the price
- To-be-built homes still allow finish personalisation rather than taking a finished spec
- Lots are larger than most new construction in the metro, where the median new-build lot is about 0.13 acres
- Genuinely scarce: 48 homesites total, and homes were already selling before the model was complete
The case against
- Roughly $955 per square foot on current listings, several times the metro median for new construction
- At this price the lots are still suburban in scale, from about a quarter to under six tenths of an acre
- Middle school assignment is not uniform across the community, with both West Ridge and Hill Country appearing on current listings
- A community still under delivery, so construction activity, street work, and the water tower build are part of the near-term experience
- A state-designated historic cemetery sits within the property, which some buyers will find a distinctive feature and others will want to see in relation to a specific lot before choosing
- Only one builder, so there is no competing builder in the community to negotiate against
On your side of the table
What a buyer’s agent watches for in The Overlook at Westlake
- +Confirm the assigned middle school for the exact lot. Current listings in this community show both West Ridge and Hill Country, and in Eanes ISD that distinction matters to a lot of families
- +Walk the lot in relation to the cemetery, the water tower site, and the entry before you choose, because on 48 homesites the differences between lots are not marginal
- +Get the all-inclusive package defined in writing. An all-inclusive model is a genuine advantage when you know exactly what is in it and a source of disputes when you do not
- +Ask what is actually fixed on a to-be-built home and what is still a selection, and get structural options decided during the plan phase rather than at the design stage
- +There is one builder here, so the usual lever of playing builders against each other does not exist. The leverage is in the lot, the package, and the timing instead
- +Order an independent inspection at framing and again before the one-year warranty expires, exactly as you would at any price point
Current incentives
MileStone uses an all-inclusive pricing model here rather than a low base price with a long upgrade list, which makes comparison easier and means the negotiation is less about the sticker. With a single builder and limited homesites the room is usually in the lot premium, the package contents, and the timing rather than the headline price. Get whatever is agreed in writing before you sign, and register buyer representation before your first visit to the model at 1300 Lost Creek Boulevard, because the builder pays the buyer-agent fee in most cases and that is only available if you are represented from the start.
Dated mid-2026 · Verify the current, written offer on a specific home
Good to know
The Overlook at Westlake questions, answered
- How much do homes cost at The Overlook at Westlake?
- Active MLS listings range from about $3,325,990 to $5,259,189 as of early October 2026, at a median near $4.7 million and roughly $955 per square foot, on homes from about 3,827 to 5,266 square feet. The range announced when the community was unveiled in December 2025 was $2.85 million to $5 million, so the entry point has risen as early homesites sold. Live listings and current pricing are shown above.
- Who is building The Overlook at Westlake?
- MileStone Community Builders, a Texas builder, is the sole builder in the community, which sits on the former Marshall Ranch parcel in Lost Creek. The model home is at 1300 Lost Creek Boulevard. Listings in the community are brought to market through Outlaw Realty. Because there is only one builder, you cannot play builders against each other here, which changes where the negotiation happens.
- What schools serve The Overlook at Westlake?
- The community is in Eanes ISD, zoned to Forest Trail Elementary and Westlake High School. Middle school is the detail to check: current listings in the community show both West Ridge Middle and Hill Country Middle, so the assignment is not uniform across all 48 homesites. In Eanes ISD that difference matters to many families, so confirm the assigned campus for the specific lot before you write an offer rather than assuming it from the community name.
- Is there really new construction available in Eanes ISD?
- Very little, which is the whole reason this community is notable. Westlake and the surrounding Eanes ISD area are effectively built out, and much of the west side sits over the Edwards Aquifer recharge zone where impervious-cover rules cap density, so new construction there is scarce at any price. The Overlook at Westlake, with 48 homesites on 37.25 acres, is one of the few genuine exceptions, which is also why it prices the way it does.
- Does The Overlook at Westlake have a MUD tax?
- It is an Austin city address, so it generally avoids the municipal utility district rates that push many suburban master-planned communities toward a combined 2.5 to 2.8 percent. The rate here is the ordinary city, county, and Eanes ISD stack. That is a real advantage in structure, though applied to a multi-million-dollar valuation it is still a very large annual number. Confirm the exact rate for the specific lot.
- What is the cemetery at The Overlook at Westlake?
- The Eanes Cemetery, the burial site of Robert and Eliza Eanes, whose family gave Eanes ISD its name, dating to the 1870s and designated a historic site by the State of Texas. It sits within the 37.25-acre property and the developer has said it will be preserved and enclosed with a permanent stone wall. Some buyers consider it a point of genuine local character; others will want to see where it sits relative to a particular homesite before choosing.
- How many homes are at The Overlook at Westlake and when can you move in?
- 48 homesites in total on 37.25 acres. Eight had sold by late December 2025, before the model home was finished, and the first move-ins were projected for late 2026. Because the homes are largely to-be-built, your own timeline depends on the plan and the stage of the lot, so ask for the current completion estimate on a specific homesite rather than the community-wide one.
Related
Keep exploring
- 01Search New Construction HomesLive new-build MLS listings across the Austin metro, filterable by price and build status.
- 02Master-Planned CommunitiesHonest, buyer-side guides to the metro's biggest new-home communities.
- 03Do You Need a Buyer's Agent?Why the builder's on-site agent is not on your side, and why the builder pays for your agent.
- 04Builder-Paid Buyer RepresentationThe builder pays it in most cases, disclosed in writing before you tour. Here is exactly how it works.
Builder-paid representation
Thinking about The Overlook at Westlake?
Before you tour a builder in The Overlook at Westlake, get your representation registered so the builder covers my fee in most cases, and get the real tax rate, incentives, and lot notes in writing. Luke replies personally.
Luke Allen
Licensed Texas REALTOR, TREC #788149
Austin Marketing + Development Group