May Market Report

The housing market is continuing to be competitive in May according to the new data from the Charlotte Regional Realtor Association. They compile data from the Carolina Multiple Listing Services and they conclude that prices are continuing to rise as supply is tightening yet again. This makes multiple-offer situations more common especially in the under $350,000 price range.

There is a possibility that the market could cool as the FED raised interest rates this week. They also announced that they will raise them again this year and possibly a third time.

When you look at the Lake Wylie area, the situation is a little less competitive. There is a reasonable 4.1 month supply of homes here with 409 homes currently on the market. This is up 5.4% from last year at this time. A balanced market between buyers and sellers is generally considered to be 4-6 month supply. This is compared to the 2.2 month supply for the entire Charlotte region.

Home prices are still on the rise. The average price a home in Lake Wylie sold for in May was $397,696. This is up 7.1% from the same time last year. The median home price was up 3.8% from last year at this time to $340,000.

There were only 107 homes that sold in May, down from 126 in May of last year. This represents a decline of 15.1%. New listings and pending sales were both up this month. New listings went from 146 last May to 187 this May, an increase of 28.1%. Pending sales rose from 117 last May to 125 this May, and increase of 6.8%. This means that there are still buyers out there so we likely won’t see much of a slowdown for at least the next month as the pending sales head to the closing table.

It remains to be seen what the market will do with rising interest rates. For now, buyers need to have the ability to act quickly when they find their perfect home. Homes are selling quicker this year than last, by 5 days so buyers need to be ready, and sellers as well.

Custom Elegance: 4974 E. Liberty Hill Road

If you have dreamed of a custom waterfront estate on Lake Wylie, one just came on the market that you don’t want to miss. This one of a kind home has over 7,700 square feet of living space nestled on 3.64 acres of private property.

Located in Liberty Hill, this home is located on a quiet cove on the shores of Lake Wylie. From the home, stroll down the hand-laid paver path down to the private dock equipped with remote controlled boat lift and Trex decking. The main channel is not far away and you can view the grandeur of the lake from your boat, or just from the lake frontage.

Head back up the path and you will be amazed to see the mature hardwood trees providing privacy for the home. Outdoor living spaces include outdoor bar, fireplace, fire pit, and seating areas. These provide stunning waterfront views from all three floors. The private terrace is perfect for entertaining or just relaxing with a good book.

Inside this custom home has 8 bedrooms and 7.5 bathrooms spanning three floors and the basement. There is a second living space complete with second kitchen in the lower level. Each bedroom has custom built-ins in the walk in closets. Gleaming hardwood floors and lots of natural light flood each space in this unique home. There are two media rooms, a large gourmet kitchen, full bar, solarium, and multiple offices.

Homes in Liberty Hill have lower South Carolina taxes and are zoned to Clover schools in York County. This is a truly rare opportunity as only three homes in Liberty Hill sold in the last year. This may be your only chance this year to get in on this amazing area. Currently offered at $1,699,000, this home is the perfect escape from it all.

Neighborhood Spotlight: Reflection Pointe

Reflection Pointe Lagoon Pool and Clubhouse

Reflection Pointe is a planned community with over 360 home sites. It is gated, with amazing amenities, an active HOA with events throughout the year for the entire family, and great schools.

Located on Lake Wylie, Reflection Pointe is on the tip of the peninsula formed by the Catawba and South Fork Rivers. A ten minute trip has you in historic Belmont. A 35 minute trip will take you to vibrant Uptown Charlotte giving residents access to sports, arts, and business. Residents also enjoy all that lake life has to offer.

Amenities for homeowners include lagoon swimming pool, clubhouse, soccer field, lighted tennis courts, children’s play area, beach area on Lake Wylie as well as walking trails and marina with deeded boat slips. The HOA puts on annual events including movie nights, shrimp boil, and holiday events throughout the year.

There are existing homes as well as lots still available for you to build your own custom home. You can bring your own builder or choose from the approved builders selected by the community. Lots are ½ acre or larger, and waterfront and waterview lots command a premium.

Homes in the interior of Reflection Pointe start in the $400,000’s while waterfront homes start in the $900,000’s and can go well over $1 million.

In the last year, homes in Reflection Pointe have sold for an average price of $799,222. There are currently 10 homes on the market representing just over a year of inventory. The current listings range between $449,000 for an interior home to $1,295,000 for a waterfront stunner. There are also 65 lots currently available ranging in price from $24,900 to $380,000.

Current school zoning for Reflection Pointe is for Gaston County Schools. These assignments include Belmont Central Elementary, Belmont Middle, and South Point High Schools. Please verify assignments as zoning boundaries can change from one school year to the next.

Neighborhood Spotlight: South Fork Crossing

If you are looking for a quaint starter home, South Fork Crossing could be the place for you. If you are looking for an established family home, South Fork Crossing could be the place for you. This versatile neighborhood is north of Belmont, with easy access to Belmont Abbey, Interstate 85, and much more.

South Fork Crossing is located just North and West of the intersection of highway 74 and Main Street in Belmont. There are many restaurants within walking distance. Also walking distance are groceries, shopping, churches, and more.

Many of the homes in South Fork Crossing were built in the 1920’s and have the kind of curb appeal and charm that has a timeless quality. Homes here have between 1 and 3 bedrooms and typically 1 or 2  full bathrooms. They are perfect for a first home, or for downsizing from a larger home.

Children in South Fork Crossing are zoned for desirable Belmont City Schools. Please be sure to verify school assignments as they can change from time to time.

In the last year, homes in South Fork Crossing have sold for between $93,500 and $173,500 with an average price of $149,780. There is currently one home on the market representing a 2.4 month supply of inventory. This is compared to the entire city of Belmont which has a 4.2 month supply of inventory. These affordable homes don’t come up often, and are typically snapped up quickly.

 

Spotlight: Stowe Point in Belmont

If you are looking for a home in Belmont, Stowe Point is worth taking a good look at. The neighborhood was built by Lennar in the last few years and the final phase was finished in 2015. This enclave of homes has just 160 homes, great amenities, Belmont city schools, and close proximity to Lake Wylie.

Located off of Stowe Road near the intersection with S. Point Road, Stowe Point is close to everything you need. Right around the corner is grocery shopping, restaurants, schools, churches, and much more. Charming downtown Belmont is just up the way. A trip to Uptown Charlotte will take around 25 minutes without traffic. Charlotte Douglas International Airport is just 17 minutes away.

Current school assignments for Stowe Point have children attending Belmont Central Elementary School, Belmont Middle School, and South Point High School. Please verify school assignments as zoning boundaries are subject to change.

Stowe Point is a neighborhood surrounded by large forested tracts of land, making you feel like you are secluded even though you are close to everything. This makes it a true retreat from the fast pace of modern life. Neighborhood amenities include pool, playground and walking trails.

Homes in Stowe Point typically have 4 or 5 bedrooms, 3 to 4.5 bathrooms, and around 3,000 or more square feet of heated living space. All have at least a 2 car garage, lots around a quarter to a third of an acre, and mature landscaping.

In the past year, homes in Stowe Point have sold for between $260,000 and $360,000 with an average sale price of $306,563. There are currently 5 homes on the market, representing 3.8 months of inventory. Belmont as a whole has a 4.2 month supply of inventory. The inventory is slightly higher than the whole of the Charlotte Region, but still appears to be a seller’s market which is considered less than 4-6 months of inventory.

Move-in ready: 305 Hydrangea Drive

Don’t miss out on a fabulous opportunity to get in on a great home in desirable Somerset at Autumn Cove. 305 Hydrangea Drive is a perfect as the flower for which it is named. This move-in ready home is simply exquisite.

Somerset at Autumn Cove is a recent neighborhood in Lake Wylie. The address is in Clover, SC which means that residents enjoy lower South Carolina taxes but are zoned for amazing Clover schools. Builder Eastwood Homes is still working on some projects within the neighborhood, but this home is ready to go with no waiting. This is one of the most reasonably priced neighborhoods at the lake, perfect for starting out in the area.

Located off of highway 49, Somerset at Autumn Cove has easy access to Clover, Lake Wylie, McDowell Nature Preserve, and is an easy trip to Uptown Charlotte.

When you first come up to the property, you see that it sits high on the hilltop with a great view of the oversized lot. There is a completely fenced backyard with amazing trees, deck and a hot tub that conveys! The side-load garage is at the top of the driveway with level space for additional parking.

Picture yourself entering your new front door to reveal beautiful hand-scraped hardwood flooring. These floors invite you into the rest of the first floor with a vaulted sunroom with loads of natural light. There is also an upgraded large kitchen with tons of counter space, stainless steel appliances, and a great pantry. The kitchen is open to the family room and the sunroom for a truly grand space.

Upstairs you find three large bedrooms and two full bathrooms. There is also a huge bonus room that could be used as a 4th bedroom, or converted into a home theater, game room, it is truly a flex space. The large master has trey ceiling and a brand new shower and huge garden tub.

This is a rare opportunity, not to be missed. 305 Hydrangea Drive is waiting for you.

 

Neighborhood Spotlight: Morgan’s Branch

Morgan’s Branch is a new construction community brought to you by Bonterra Builders. There are a total of 153 homesites with community amenities near Lake Wylie, but with a Belmont address. The neighborhood is on a strip of land located between two rivers in a serene and beautiful locale.

This amazing neighborhood is in an ideal spot, right next to luxurious Misty Waters. A few minutes away is Daniel Stowe Botanical Gardens and Stowe Park famous for concerts and festivals. There is easy highway access to I-85, I-485, and Highway 74/Wilkinson Boulevard. This makes a trip to Uptown Charlotte take around 30 minutes. You can also easily get to Charlotte Douglas International Airport.

Children in Morgan’s Branch attend outstanding Belmont schools including Page Preliminary School, Belmont Middle School, and South Point High School. Please be sure to verify schools as zoning boundaries can change from one school year to the next.

This traditional community was begun in 2015 and the newest phase is currently underway. There are two different Series, the 55’ and the 70’ with the choice of six floor plans with various elevations depending on the lot. Homes are one or two story and range in size from 2,456 to 3,169 square feet of living space. All have 3 or 4 bedrooms, 2.5-3 bathrooms and two car garages. Prices start in the $270’s, but can go higher due to plan, square footage, and upgrades.

There are currently move-in ready homes, homes that will be ready soon, and opportunities to start from the ground up.

The community features a pool, club house, and tot lot for residents to enjoy. There is also designated boat storage for residents. Public boat ramps are just a few miles away. Don’t miss out on this desirable community.

 

Neighborhood Spotlight: Misty Waters

If you are looking for an exclusive gated neighborhood on the water of Lake Wylie with outstanding schools, Misty Waters is the place for you. Misty Waters was developed with strict architectural standards, including minimum square footage making sure residents have the most beautiful views around.

Misty Waters is located off NC Highway 273 in Gaston County. Homes here have a Belmont address, but are truly lakeside in Lake Wylie. Many of the homes have lake frontage, but interior lots can have lake views or wooded views and are typically over one acre in size. The natural beauty of the area was maintained during construction so the rolling terrain and wooded lots are undisturbed. This lends a tranquility that few other neighborhoods can claim.

Development began in the early 2000’s on these stunning custom homes. No two homes are the same, though they do all have large footprints with many of the homes over 5,000 square feet. Outdoor living spaces are included with many of the homes including pools, outdoor kitchens, fire pits, decks and porches.

Waterfront homes typically have docks, boat houses, boat lifts, and/or floating docks. Off water homes have deeded private boat slips available in the community marina as well as boat storage. Additional community amenities include swimming pool, clubhouse, and natural walking trails.

Minutes away from Misty Waters is Daniel Stowe Botanical Gardens. A few minutes further will have you in downtown Belmont with Belmont Abbey and College. There is convenient highway access to I-85, I-485, and Highway 74. This makes a commute to Uptown Charlotte or a trip to Charlotte Douglas International Airport no trouble at all.

In the past year, homes in Misty Waters have sold for an average of $686,483. Most of these homes were interior lots. When waterfront homes come on the market, they command a premium and typically sell for over $1 million.

Amazing Value in Misty Waters: 9105 Shorewood Place

The time to act is now if you want an amazing home at a great value in Misty Waters. This property was just reduced by $15,000 today. The sellers are motivated and the home is priced $100,000 below appraised value. Current offering price is $534,900.

Misty Waters is a gated community in Belmont on the shores of Lake Wylie. This upscale neighborhood is located off NC Highway 273 in Gaston County, NC just minutes from Daniel Stowe Botanical Gardens. Tranquility abounds in Misty Waters as it is situated on one of the most unspoiled areas of Lake Wylie.

There is easy access to the highway via I-85, I-485 or Highway 74 which can all take you to Charlotte Douglas International Airport and Uptown Charlotte. Many options for shopping, restaurants, and major employers are within easy reach, yet homes in Misty Waters seem remote and peaceful. Historic Belmont is a quick drive away as are Belmont Abbey College and Monastery. There are also options close by for golfing and country clubs.

Neighborhood amenities include clubhouse and pool that overlook the lake, community marina with boat docks and deeded boat slips and boat storage, recreation area and walking trails.

Picture yourself living in this amazing community in a home with 4,278 square feet of living space custom built in 2003. The home contains 4 bedrooms and 4.5 bathrooms. Each bedroom has access to a full bathroom. There is a large three car side-load garage with huge bonus room or 5th bedroom upstairs. Closets are ample for great storage.

The gourmet kitchen has a huge island, wine fridge, trash compactor, stainless steel appliances, ice machine, two sinks, and instant hot water. Granite counters compliment the wooden cabinets and tile flooring.

The exterior has brick on all sides for easy maintenance and there is a wrap around porch with beautiful views of the homes 1.34 acres. The backyard is a true oasis with saltwater pool with its own slide. Though this is an interior lot, there is a private boat slip deeded to this property at the community marina.

This home is currently zoned for amazing Belmont city schools. Current zoning is for Belmont Central Elementary, Belmont Middle, and South Point High Schools. Please verify zoning as boundaries can change.

You won’t get a better deal than this in Misty Waters. Act now.

 

Neighborhood Spotlight: Abbington Woods

If you’re looking for a quiet, wooded, cul-de-sac neighborhood outside Belmont and Mt. Holly, Abbington Woods is the place for you. Gordon Builders is developing the project which has 51 home sites. The location is convenient to I-485 and I-85 making a quick commute to Uptown Charlotte or an even quicker trip to Charlotte Douglas International Airport.

There are six floor plans to choose from according to Gordon Builders. They are all ranch style plans with custom features and plenty of possible upgrades. These homes include features in their standard packages that are considered to be upgrades or custom for other builders.

The Higgins floor plan includes a covered porch and screened in porch in the rear for enjoying the wooded back yard all year round. There are three bedrooms and two full bathrooms and a two car garage. The kitchen is open to the great room for gathering the whole family.

A sunroom for true four seasons of outdoor living is one of the features of the Landing floor plan. The master suite is private as the other two bedrooms are in their own wing on the other side of the home. A formal dining room is included in this plan for Sunday suppers.

The Fennel plan has a great mudroom drop zone for kid backpacks and shoes. There is a large kitchen with huge island for food prep and entertaining.

A fireplace is the anchor of the family room in the Hartman Plan. Three bedrooms and two full bathrooms compliment the kitchen with breakfast room and formal dining room.

The Madison plan has three bedrooms and two and a half bathrooms. The powder room off the kitchen helps with entertaining so guests don’t need to enter the more private living quarters. The large covered porch off the rear of the home is perfect for al fresco dining all summer long.

Finally, the Alexander plan features a trey ceiling in the master suite as well as additional storage in the garage. The family room is seriously impressive with a vaulted ceiling and fireplace.

Homes in Abbington Woods start in the low 200’s so they are affordable as well. There is also limited availability for basement plans so get in on Abbington Woods quickly.