Archives for November 2016

October’s market update

Let’s take a look at the local market update for October 2016, according to the report from the Charlotte Regional Realtor Association. The big news with last month’s numbers is the year-over-year change in the drop in inventory.

For the entire CarolinaMLS area, October 2015 had 13,742 homes on the market representing 4 months supply of inventory. This year’s October numbers show only 10,570 homes on the market representing 2.8 months of inventory. This is a 23.1% drop in the inventory of homes for sale and a 30% drop in the months supply of inventory. With inventory as low as it’s been in a while, as well as an increasing demand among buyers, home prices are on the rise.screen-shot-2016-11-22-at-2-25-10-pm

Lake Wylie, Fort Mill and York County overall have also seen a decrease in inventory, though the drops haven’t been quite as steep as that which we saw with the overall CarolinaMLS stats, and the rise in home prices hasn’t been quite as steep or as steady in these smaller markets.

Furthermore, regarding the entire CarolinaMLS area, new listings are up 2.7% from 2015, and closed sales are up 3.4%. screen-shot-2016-11-22-at-2-30-42-pmHowever, new listings in Lake Wylie are down 9.6%, but closed sales are still up 4.9%. As far as York County is concerned, the numbers here are a bit bigger, with new listings up 15.8% from 2015, and closed sales up 11.3%.

The big takeaways here are that inventory is down creating a definitive seller’s market with rising home prices, and closed sales are up showing signs of plenty of activity in an active and strong housing market across the Carolina region. Stay tuned for next month’s stats!

 

Big merger brings more jobs to Fort Mill

screen-shot-2016-11-22-at-2-19-50-pmDevelopment projects have been on the rise in Fort Mill and have recently included new residential housing projects as well as an influx of commercial spaces and storefronts and thus, a thriving local economy has resulted. Plus, as more businesses move in and expand, Fort Mill continues to see a rise in employment opportunities which further benefits the economy here, and a  recent merger exemplifies this.
Fort Mill is the home of Mergent Inc.’s headquarters, a company that provides financial data and analysis to investors regarding both public and private companies. While it is not a very large company, it does have a one hundred-year history and a massive amount of data. These factors contributed to the recent sale of the company to the London Stock Exchange.

This sale is big news on a global scale, however it is also significant to the local market because it is expected to bring more jobs to Fort Mill. Mergent’s merger with the London Stock Exchange will help enable the small company to compete with its billion-dollar counterparts. Furthermore, it will allow Mergent to grow and broaden its “range of data services, research and analytics to meet the increasing demand of [its] clients.” Mergent currently has approximately 4,000 customers across the globe that include investment firms, brokerage houses and law firms.

Fort Mill is home to 120 of Mergent’s 300 employees worldwide and is looking forward to expanding employment here. The final deal is expected to close on January 31, 2017.

For more details on the merger and what it means for Fort Mill, check out the article at WFAE.org.

 

Neighborhood spotlight: York’s Palm Tree Cove

screen-shot-2016-11-20-at-4-17-08-pmPalm Tree Cove, located in York, South Carolina, is a beautiful heavily-wooded Community that borders Lake Wylie and features charming new construction homes on lots that range in size from three quarters of an acre to a massive three acres.

The community features “casual yet sophisticated living” with easy access to nearby shopping and dining, as well as plenty of recreational options. Homes here are not only beautiful, but they are energy-efficient, as well.

There are currently seven homes on the market here representing 5.6 months of screen-shot-2016-11-20-at-4-33-58-pminventory. This indicates that we have a very balanced market in Palm Tree Cove, and the little fluctuation in the average price per square foot of homes indicates that this is a stable market, as well. The months of inventory in Palm Tree Cove is only slightly higher compared with that of the town of York as well as of York County, which both have 4.8 months of inventory.

With the recent dip in the average price per square foot as well as a recent increase in screen-shot-2016-11-20-at-4-33-53-pmthe average seller discount, now may be a good time for buyers to take a look at this beautiful neighborhood that not only has many fantastic community features, but also provides residents the opportunity to take advantage of lake living, lower taxes and a fantastic school district.

Check out Palm Tree Cove today!

Residential development booms in Fort Mill and Tega Cay

screen-shot-2016-11-20-at-4-25-46-pmFort Mill and Tega Cay are soon to be home to, well… more new homes. For starters, a 52-acre site on Fort Mill Parkway will soon be Fort Mill Reserve, which would potentially include up to 120 homes as well as 80,000 square feet of retail, office or municipal use. An acre of the space would also be donated to the town as green space or as a park. And, at least 20% of the residences in Fort Mill Parkway would be targeted toward seniors. Plus, next to Fort Mill Reserve is another new possible site for up to 75 new homes as well as a fire station.

The Cadence subdivision is under review in Tega Cay, where possible plans would allow for up to 125 new homes here. If everything moves forward, Cadence should be completed by 2020 as part of a big surge in development for Tega Cay, which also includes Catawba Park, the Game On sports megaplex, as well as many new residential neighborhoods. With more than a thousand housing units currently in the works in Tega Cay, there are almost just as many housing units in the proposal stage, as well.

Massey is also seeing some residential additions with 47 new homes on nearly 42 acres on the northern side of South Dobys Bridge Road.

For more details and information on the residential development that is booming in the Fort Mill and Tega Cay area, be sure to read the full article at Heraldonline.com.

Neighborhood spotlight: York’s Vanderlakes

screen-shot-2016-11-13-at-3-13-52-pmThere are plenty of charming communities throughout York County, and one that is particularly noteworthy is Vanderlakes–a quaint neighborhood comprised of stately homes that are situated on generously-sized lots averaging at least one acre. This is anything but a cookie-cutter neighborhood, where homes have individual character and charm. The neighborhood features plenty of greenery and privacy, with many homes featuring expansive hardwood floors, beautiful trim work, granite countertops, and lovely outdoor porches.

Furthermore, residents of Vanderlakes get to take advantage of Clover’s award-winning school district, making this a great neighborhood for families.

There are currently two homes on the market in Vanderlakes representing six months of inventory. Thus, the market here is perfectly balanced, not favoring buyers nor sellers.screen-shot-2016-11-13-at-3-12-56-pm

However, it is certainly notable that there has been a steady climb in the average sales price of homes here, as well as in the average price per square foot. Over the last 12 months, the average price per square foot was $122.34screen-shot-2016-11-13-at-3-13-05-pm compared with over the last three months, where the average price per square foot was $147.10. Furthermore. The average sales price over the past year was $425,625, as compared with the average sales price over the last three months which was $475,000.

If these trends continue, it is to the buyer’s advantage to act sooner than later when considering purchasing a home here.

Don’t miss out on this great community boasting southern charm and beautiful homes.

Lake Wylie offers both affordability and luxury real estate

screen-shot-2016-11-13-at-2-48-07-pmIf you are looking for waterfront property in the greater Charlotte area, the ever-desirable Lake Wiley is certainly not to be missed. Homes here tend to offer buyers more bang for their buck, particularly when compared with the homes on Lake Norman, where the average sales price tends to be much higher, despite Lake Norman’s greater expanse of shoreline properties.

Although Lake Wylie is smaller than Lake Norman, the North Carolina housing market here is worth $134.6 million, and Lake Wylie’s South Carolina market is worth another $110 million, making Lake Wylie the third largest market in North Carolina and the fourth largest market in South Carolina, with 325 miles of shoreline properties.

The average list price of homes on the North Carolina side of Lake Wylie is $608,070, which is relatively more affordable when compared with Lake Norman where the average list price is $860,890. Even more affordable is the South Carolina side of Lake Wylie where the average list price is $594,059.

While Lake Wylie tends to offer greater affordability than north Charlotte, there is still an active luxury market here featuring stunning lakefront multimillion-dollar homes.

The Lake Wylie real estate market is certainly diverse and dynamic, featuring a range of price points and a range of features. Furthermore, the market here is pretty steady year-round, attracting not only local buyers, but also out-of-state buyers who are relocating for work or who are looking for their dream retirement home. As far as waterfront real estate goes, Lake Wylie certainly features some of the best properties that the greater Charlotte area has to offer.

For more details on Lake Wylie’s housing market, check out the full article at bizjournals.com.

Neighborhood spotlight: The Bluffs

screen-shot-2016-11-06-at-9-52-54-pmLet’s check in with The Bluffs,  a new-construction neighborhood located just minutes from the beautiful Lake Wylie in the town of Clover. This charming community is an ideal blend of natural beauty and luxurious single-family homes.  Stately and architecturally diverse homes are situated on generously-sized lots that are as large as an acre. Homes here feature optional side-entry garages, stunning granite countertops in the kitchen and bathrooms, tankless water heaters, hardwood floors and architectural shingles on the roof. Plus, The Bluffs is conveniently located near local restaurants, great shopping and plenty of recreational activities.

The market here is fairly balaned, with 7.2 months of inventory represented by three homes currently on the market.  While this number does not indicate a strong buyer’s nor seller’s market, inventory here is still significantly higher than that of York County as a whole, where there is only 4.7 months of inventory.
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There has been a steady uptick in the average number of homes sold per month, and this increased activity tends to favor the sellers.
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However, while there has been little change in the average price per square foot of homes, there has been a steady drop in the average sales price of homes, which favors the buyers.
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The average sales price of homes currently available is $572,125, and houses on the market here have at least five bedrooms, four bathrooms and a minimum of 5,100 square feet and have been meticulously maintained.  Don’t miss this beautiful neighborhood and all that the The Bluffs has to offer!

Local entrepreneur brings new pizza restaurant to Fort Mill

screen-shot-2016-11-06-at-8-32-24-pmA new local pizza joint is moving in to Fort Mill that the whole town can get excited about. Toppers, known for its fantastic pizza with multiple topping options, as well as its “topperstix,” which are the namesake’s breadsticks,  already has two locations in Charlotte and is now finally opening up a location in Fort Mill.

While there will be limited seating inside, there will potentially be a patio area for seating, but delivery and take-out will definitely be a primary money maker. The restaurant focuses it’s food on freshness and quality. However, their biggest selling point is the sheer number of toppings that they offer. You can order a buffalo chicken pizza, a macaroni and cheese pizza, a taco pizza, and so much more. The list goes on, and the restaurant will be open until 3 AM for a late night orders and pizza cravings.

The new store will be located at 400 Doby’s Bridge Road next to the new Walmart market.

Bill Stayduhar is the founder and owner of Toppers, and he is originally from Fort Mill, as is his wife and family. He is incredibly excited to finally bring his concept to his hometown. The store is hiring, and potential employees should visit toppers.com for a job application, and interested pizza eaters should check out the menu on the website, as well. Read the full article at Heraldonline.com for more details on this new restaurant opening.