Archives for December 2015

Living the good life in Lake Shore

lakeshore  The gorgeous, mature neighborhood of Lake Shore is a golfing and water lover’s dream come true!

Lake Shore residents can enjoy access to a 27-hole golf course, fitness center, pool, tennis courts and recreation area.

The homes in Lake Shore were primarily built in the early 2000s. They range in size from around 2,000 square feet to more than 5,000 square feet.

In the last year, an average of 2.2 homes have sold each month in Lake Shore. That number is trending downward to less than 1 home sold per month in the last 3 months.

Currently, there are 9 Lake Shore homes on the market, which is approximately 4.2 months of inventory. Three of those home are under contract, as of Dec. 31. Lake Shore has less inventory than nearby Serenity Point, which has 10.2 months inventory. Tega Cay as a whole has more than 6 months inventory.

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The average sales price for the last 12 months is just over $400,000. The price per square foot during the last 12 months is $120.36.

During the last year, 20 homes sold in Lake Shore. The average discount off list price is 1.6%. Several homes sold for more than list price, which is a great sign for sellers when the market picks up in spring 2016!

Catawba Park revision presented, vote soon

catawbaparkA Rock Hill-based engineering company presented Tega Cay City Council with its latest plans for a proposed recreational park facility that potentially will span 62 acres below New Gray Rock Road, across the river from Westminster Park.

Campco Engineering presented its revised plan Dec 21. A vote is expected in January, according to a Rock Hill Herald report.

Tega Cay owns 10 acres. The city is in talks with Duke Energy and Clear Springs Baxter for an additional 52 acres.

The site along the river would add sports fields, picnic shelters, a canoe/kayak launch, playgrounds and restrooms, among other amenities. The site already has a boat ramp and fishing areas, according to the report.

The final design planning could take six months. Design approval for the city’s 10 acres means work could start on that parcel of land sooner while agreements with the other land owners are negotiated.

Spotlight on Forest Bay

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Six miles south of downtown Belmont on a peninsula of land between the Catawba River and the northernmost finger of Lake Wylie lies Forest Bay subdivision. The enclave of luxury homes offers lakeside living without giving up proximity to metro Charlotte.

Forest Bay is easily accessible from downtown Belmont via Highway 273 and a short drive from the beautiful Daniel Stowe Botanical Garden.

The majority of established homes were built in the early 2000s, however, there are  2 lots available for sale in the subdivision as of Dec. 26.

Screen Shot 2015-12-27 at 6.23.17 PMThe average number of homes sold per month during the last 12 months is less than 1. No homes have sold in Forest Bay during the last 3 months. The highest sales price in the last 12 months was $1.045 million and lowest sales price was just shy of $450,000.

The average sales price for the last 12 months is $739,500 and average price per square foot at just over $157. Because so few homes are sold in the neighborhood annually, the average sales price and average price per square foot data for the last 12 months is not enough to draw conclusions about overall trends for the neighborhood. The data appear to show a downward trend, however, it represents only 3 home sales.

Screen Shot 2015-12-27 at 6.23.29 PMCurrently, there are 2 homes on the market in Forest Bay, one of which is under contract. The subdivision has 8 months of inventory, slightly higher than the 6.2 and 5.8 months inventory for Belmont and all of Gaston County, respectively.

The real estate market tends to cool with the weather and pick up in the spring.  Forest Bay has fantastic options for finding a dream home near the lake or building it from the ground up on one of its available lots.

Spotlight on Somerset at Autumn Cove

Screen Shot 2015-12-22 at 8.48.32 PM    Maybe you cannot afford the lakeside home of your dreams that costs well over $1 million…yet. That’s okay. Somerset at Autumn Cove homes start in the low $220s and offer the amenities and views of the lake without breaking the bank.

Eastwood Homes is still building out the neighborhood, which offers a community pool, walking trails and a boat storage area. If picking out one of 11 floor plans and design details isn’t your cup of tea, there are currently 13 homes on the market there that are move-in ready.  Seven of those listings are already under contract.

The highest list price is currently $850,000 and lowest $226,990. The average sold price is just over $321,000.

Screen Shot 2015-12-22 at 8.59.20 PMScreen Shot 2015-12-22 at 8.59.29 PMThe number of homes sold per month is approximately 1.7 for the last 12 months.
That number is up to 2.3 for the last 3 months. The average sales price and price per square foot are also trending upward to just over $320,000 and nearly $112, respectively.

Somerset has about 7.8 months of inventory on the market right now, given that fewer than 2 homes per month are selling. Established Autumn Cove at Lake Wylie has just under 3 months of inventory on the market. Clover and York County both average about 7 months of inventory.

Market spotlight: Belmont’s Timberlake

timberlakeIf you’re looking for small-town lifestyle and ambience with proximity to big-city amenities then Belmont might be the right place to call home.

Settled in the 1750s, downtown Belmont has a vibrant collection of local merchants, restaurants and a historic district listed on the National Register of Historic Places.

One of the many choices to call home is Timberlake, which is only two miles from the downtown area and nestled in a bend of the South Fork Catawba River.

Over the past 12 months,  the number of homes sold per month in Timberlake is about 1.7 homes and trending downward to one per month in the last three months.  timberlake1The average sales price is just over $311,000 and approaching $347,000 in the last three months.

The average price per square foot has remained relatively steady in the last 12 months, average approximately $105 per square foot.

timberlake2   At 4.2 months inventory, Timberlake is well below all of Belmont and Gaston County, which have 5.9 and 5.8 months inventory, respectively.

Currently, there are seven homes on the market in Timberlake; Four of the homes are already under contract.  New construction is also available through builder AV Homes.

Market Spotlight: Tega Cay

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Twenty miles to the south of the Charlotte metro area is prime lakeside living along Lake Wylie. On a southeastern peninsula jutting into the lake is the community of Tega Cay, a three-acre planned city in Fort Mill.

In addition to the obvious allure of the waterfront, Tega Cay also offers miles of walking trails and 27 holes of golf.

graphHome sales in Tega Cay have averaged approximately 5.2 homes per month over the last year. The average sales price and average price per square foot trends have nearly mirrored each other, peaking in the last six months and trending downward over the last 3 months.

The average sales price over the last three months is just over $257,000, and the average price per square foot is just shy of $119.

Currently, there are 27 homes on the barmarket in Tega Cay. Of those listed, 11 are under contract as of Dec. 15. This represents a market inventory of a little over 5 months, given sales average just over 5 per month. Fort Mill and York County have 5.4 months and 7.3 months inventory, respectively.

On all of Lake Wylie, there are currently 97 waterfront properties listed for sale or 11.2 months inventory. The average sales price of a Lake Wylie waterfront home is $755,034.