Neighborhood Spotlight: Catawba Crest

Tucked away on one of the deepest coves on Lake Wylie sits a small elegant neighborhood called Catawba Crest. Situated just off Lake Wylie Road, Catawba Crest has a Clover, SC address and feeds to award winning Clover public schools. Convenient shopping, dining, and recreation can be found within a few minutes drive. Access to Uptown Charlotte and the Charlotte Douglas International Airport takes just a short drive. All of these necessities are close by, but you can lose yourself in the peaceful neighborhood on the lake.

Many of the homes in Catawba Crest have water view or waterfront parcels. From these homes you have amazing views of the sunrise and sunset each day over the water. Most of the homes were built between 2001 and 2010 and are in great condition. Many were custom built and include luxury features and many have well over 3,000 square feet of living space. Chef’s kitchens, home offices, and owner’s suites are common. Homes take advantage of the views of the lake and include decks, two story great rooms lined with windows, and screened porches. Homes on the waterfront have boat houses, floating docks, boat lifts, and more. Inland homes have wooded large lots with plenty of privacy.

Current public school zoning for Catawba Crest has children attending Crowders Creek Elementary, Oakridge Middle, and Clover High Schools. Please be sure to verify school assignments as zoning boundaries do occasionally change.

In the past year, homes in Catawba Crest have sold for between $390,000 and $523,000. However, none of those homes was waterfront property which typically command a premium. There are currently two homes listed for sale that are waterfront and they have an average list price of $776,950. There is not much turnover in the neighborhood with only 6 or so homes becoming available each year for the last three years. If you want a home in Catawba Crest, you have to act fast when a home comes on the market.

Neighborhood Spotlight: Windswept Cove

If you are looking for a waterfront neighborhood with large lots, amazing homes, and fantastic amenities, look no further than Windswept Cove. Many of the homes here are on waterfront lots on Big Allison Creek with picturesque views of the creek and the main channel of Lake Wylie.

Windswept Cove is tucked away and private, but is still close to shopping, dining, and entertainment. If you need more, York and Clover are just 20 minutes away. Rock Hill, SC is 30 minutes away and Uptown Charlotte and Charlotte Douglas International Airport are 45 minutes away. Allison Creek Public Lake Access is a few minutes away across the bridge and has boat landing, ramp, and day dock.

There are 119 custom homesites in Windswept Cove covering 224 acres. Lots are large and waterfront lots average 1.6 acres. This gives privacy and space for outdoor living areas. There are environmental covenants in the neighborhood limiting the mass clearing of trees on homesites ensuring privacy for each home.

Windswept Cove has two entrances that are connected by a sidewalk uniting the two sections. The first entrance is small and has just a few homes on large wooded lots. The second entrance is for the larger section of the neighborhood so has more homes and more streets, but still has wooded lots.

Homes in Windswept Cove vary in size from 2,300 to 7,600 square feet and prices can vary widely due to the size of the home and the type of lot it sits on. These custom homes are packed with luxury features. In the last year, homes in Windswept Cove sold for between $455,000 and $970,000. Many have 3 car garages, home offices, custom cabinetry, hardwood flooring, and fully finished basements.

Many of the homes are on waterfront and include piers and boat docks. For those that do not, there is access to the lake for residents for fishing, boating, and swimming.

In addition to the private spaces these homes enjoy, there are neighborhood amenities for residents and their guests including a pool and clubhouse in addition to the lake access.

Children in Windswept Cove attend award winning Clover Schools including Bethel Clover Elementary, Oakridge Middle, and Clover High. Please be sure to verify school assignments as zoning boundaries can change from one school year to the next.

March Housing Data

The monthly market report was just released by the Charlotte Regional Realtor Association based on data from the Carolina Multiple Listing Service. In the entire Charlotte region, sales are down, prices are up, and supply is down as well. Lake Wylie has fared a little bit better than the entire region, though numbers could be skewed due to small sample size.

Charlotte has been in a strong sellers market for a long time now, with low inventory and homes commanding higher prices. There is just a two month supply of homes in the entire region, just 8,208 homes currently for sale. This means sellers are getting the best of any deal with multiple offers becoming more common and homes selling sometimes for more than list price.

When you look at the numbers for Lake Wylie, there is a 3.3 month supply of homes. Still a sellers market (6 month supply is generally considered a balanced market), but not as extreme as the whole region. This number is down from March of last year when there was a 3.8 month supply, a decrease of 13.2%.

Contrary to the entire region, Lake Wylie actually had more home sales this year than last. There were 90 homes sold in March, up 13.9% from 79 in 2017. These homes sold for an average of $414,976, up 28.7% over last year. This large swing could be from a few pricey properties skewing the average.

Pending sales are also up over last year, from 135 to 144, a gain of 6.7%. This means that next month we should see strong numbers for closed sales. Slightly more worrying is the number for new listings. They were up from 169 last March to 170 this March, a rise of just 0.6%. This dip in supply could send prices higher during a time when interest rates are already on the rise. It remains to be seen if more sellers will list their properties helping to turn this market around.

Neighborhood Spotlight: Anchorage – Lake Wylie

If you’re looking for “the good life” as the Tega Cay motto says, look no further than Anchorage. This amazing neighborhood feeds to award winning Fort Mill schools and has a wide range of homes.

Anchorage is located on a peninsula off of the roundabout at the end of Windward Drive close to Pitcairn Park. Homes on the approach to the peninsula are priced starting in the $300’s and prices rise as you get out on the peninsula as those homes all have water frontage. Those homes go for over $1 million and have many luxury features including private pools, cabanas, outdoor bars, private boat docks and more.

The neighborhood has many amenities for residents including a club house, fitness center, golf course, playground, pool, recreation area, tennis courts, walking trails, and of course the lake.

There are many options close by for dining, shopping, fitness, and more in Tega Cay and close by in Fort Mill. An Uptown Commute is convenient via close highway access.

Homes in Anchorage have a wide range of sizes and styles. They were mainly built from the mid-1990’s to the most recent in 2012. Many of the homes are completely custom and include luxury features. There are also many homes which have been fully updated since they were built. Some of the homes have fully finished basements with home offices, game rooms, media rooms and more.

In the past year, homes in Anchorage have sold for between $350,000 and $1.495 million with an average price of $862,000. There is currently one home on the market in this prestigious community which represents a 2.4 month supply of inventory. This is much less than the 5 month inventory for the entirety of Tega Cay.

Children in Anchorage attend top rated Tega Cay Elementary, Gold Hill Middle, and Fort Mill High Schools. Each of these schools receives top marks from CarolinaSchoolHub.com. Please verify school assignments as boundaries can change from time to time.

Fine Waterfront Living: 8560 Lilybet Lane

If you’re looking for a pristine home on Lake Wylie’s waterfront with a gourmet kitchen and grandfathered enclosed boathouse, look no further than 8560 Lilybet Lane. This amazing home has been completely renovated and has unfinished space over the detached garage that can be turned into income property.

Located on a private cove, you will never have to deal with the wake on the main channel. This makes this property perfect for your own beach. The fully enclosed boathouse has a boat lift and floating dock. Along the shore, a clever fire pit has been constructed with a patio and built in benches perfect for relaxing and watching the sunset. You can also see stunning views from the large lakeside deck along the back of the home, or from the screened in porch.

This property is only 20 minutes from Uptown Charlotte. Just up the street is the Charlotte Yacht Club, and Berewick neighborhood. There is easy access to I-485 and you are minutes from shopping at Charlotte Premium Outlets. Shopping and dining options are also available on Steel Creek Road a few minutes away. If you need to feel like you have more of a retreat, there is a 5.15 acre parcel behind this property that is also for sale at this time which can be subdivided to make a family compound, or kept as a buffer for solitude.

Inside the home, you will find three bedrooms and two bathrooms in a thoughtfully laid out ranch style home with 2,013 square feet of heated living space. Hardwood floors go all through the home. Plentiful windows let in abundant light and lake views. The vaulted ceiling in the living room makes the whole home feel like a retreat. The kitchen is a chef’s dream with dynamic cooking system stove with downdraft vent. The fridge is built in and there is a large stainless farm sink. Stainless appliances and warm wood cabinetry round out the space. The bar space is great for additional seating for entertaining or just for an easy breakfast spot.

Both bathrooms have been recently remodeled with new fixtures, tile, vanities and counters. The master bath has a huge soaking tub and lots of great storage. There is a separate laundry room with storage cabinets and utility sink.

The exterior is constructed with stone and vinyl for minimal maintenance. There are also two separate storage outbuildings on the property perfect for a workshop or storage for kayaks, life preservers, and water toys.

Current zoning has children in the neighborhood attending Berewick Elementary, Kennedy Middle and Olympic High Schools. Please verify school assignments for accuracy.

Don’t miss out on this rare opportunity to own this stunning home currently listed for $699,900. At .83 acres with waterfront, private cove and boathouse, it’s a steal. For more information, check out our full listing page here.

February Market Report

The Charlotte Regional Realtor Association has released its monthly reporting based on numbers from the Carolina Multiple Listing Services, Inc. According to the report, the Lake Wylie area continues to be strong. Average sales price was up 20.1% year over year to $383,077. Median sales price was also up from $268,201 in February of 2017 to $315,000 in February of 2018, a rise of 17.4%.

At the same time that prices are up, new listings, pending sales and closed sales are also up. At the time of the report, closings were up 30.2% from 53 to 69. Pending sales were up from 73 to 132, a rise of 38.4%. This means that we can expect March numbers to be just as strong as many of the pending sales will close in March.

New listings were up just 8.2% from 122 to 132. This is more encouraging than the entire Charlotte region where new listings were down 1.4%.

Inventory of homes has gone down in Lake Wylie which follows a larger trend throughout the region. There were 314 homes on the market in February of this year, down from 345 last year at this time. This leaves us with a 3.2 month supply of inventory in the region when last year we had 3.9 months. This 17.9% decline mirrors the entire region where inventory is down even further to just a 2.0 month supply.

Low inventory across the region means that sellers generally have the upper hand in real estate transactions. A balanced market between buyers and sellers is generally considered to be a 6 month supply of inventory.

Demand for homes appears to remain strong despite low inventory and now rate increases from the FED. This means that sellers can still expect buyers for homes they list on the market, even with prices edging higher.

Main Channel Waterfront View: 18326 Hideaway Road

Views like this don’t come up for sale often. This rare property has over 200’ of water frontage with expansive views of the main channel of Lake Wylie. Imagine watching the sunset every day from your large screened in porch. You can keep track of all of the boat traffic or watch the wildlife as you relax.

Hideaway Road is truly hidden away from the worries of the city. This home is located at the end of the road off of Grand Palisades Parkway, just past the Palisades Country Club and Palisades Episcopal School. A quick drive will have you at Rivergate for shopping, dining, entertainment and more. McDowell Nature Preserve is close as is Carowinds Amusement Park. Nearby highway access to I-77 will have you at Charlotte Douglas International Airport or Uptown Charlotte in no time at all.

When you approach the home, you enter from a large parking area with a small front porch. There is also a 2 car carport for sheltered parking. Walk around the back and you will see a pier walkway down to the floating dock. Step out to the end for an even better view of the main channel.

Inside the home is a huge living room with vaulted ceiling and an oversized fireplace. This leads you towards three bedrooms and two full bathrooms. The kitchen and dining areas and the full size laundry room round out the main living space.

Don’t miss out on this property as it has tons of potential. With just over an acre of land, there is an opportunity to add to this 1,784 square foot home to truly make the space grand. For more information and additional photos, please see the full listing here.

Neighborhood Spotlight: Handsmill on Lake Wylie

Handsmill on Lake Wylie is a secluded, gated community located right on the shores of scenic Lake Wylie. The neighborhood is close to the state line, making it only a 30 minute drive to the city amenities of Charlotte. There are 20 square miles of lake for residents to enjoy, where they can reach the water from one of two private marinas and boat ramps. There are also many amenities away from the shore including walking trails perfect for spotting local wildlife. There is also a clubhouse with a Jr. Olympic sized swimming pool, fitness center, kids pool and play area, and an outdoor patio with fireplaces.

Just a 30 minute drive away, is the busy city of Charlotte which offers shopping, dining, and cultural options. For those that don’t want to go all the way to Charlotte, York County itself has plenty of options to explore, including one of several properties listed on the National Register of Historic Places. There is also a new children’s museum in the area as well as additional opportunities to see local wildlife in Kings Mountain State Park.

Currently there is 1 home on the market so the neighborhood is in high demand. This represents 1.7 months of inventory, making the neighborhood a seller’s market. This is comparable to York County as a whole, which is also more of a seller’s market.

In the last year the average price of homes have increased substantially but the average price per square foot has only increased slightly. Homes are currently on the market for around $575,000 and all homes are designed with modern finishes.

With its secluded feel and proximity to so many local and city amenities, Handsmill on Lake Wylie is the perfect place for a family home.

Steele Creek and Lake Wylie Housing Market Report 2017-2018

The Steele Creek Real Estate market continues to be one of the top markets in the Country and is estimated to be one of the top 5 in the entire Country by the end of 2018.

On the National scene existing Home sales will finish at a pace not seen since the bubble bursting run up to 2006 clocking in at about 5.5 Million but amazingly still approximately 1.1 Million less than that all time high.

According to forecasts by the National Association of Realtors the steadily improving US economy, sustained job growth and rising confidence that now is the time to buy a Home should pave the way for an increase in Homes sales in 2018.

Back to Steele Creek, the availability of land, proximity to Charlotte’s 485 outer loop, Downtown and the Airport along with a widely diverse Housing Market are driving increases in prices and sales. A new master planned Development is in the final planning stages for the large mainly undeveloped area west and south of the Airport which will include the proposed River District slated to be larger than the Ballantyne area in South Charlotte. The area is expected to increase in population by 20-25% over the next 5 years.

Sales of new and existing Homes in the Steele Creek area over the past 12 Months for the zip codes of 28278 and 28273 were at a staggering pace of close to 2000 sold, leading the way the Community of Berewick with sales up 33% to 356, the Palisades with 131 sales was a distant second.

Another large Master planned Community is rising in Gaston County near Lake Wylie and Belmont called McLean, while just getting started sales were up to 40 in 2017.

Over on the South Carolina side of the Lake new Developments are popping up like spring flowers, national production Home Builders like Mattamy Homes and DR Horton along with local Builders, Fielding and Bonterra Homes are building a potpourri of styles and myriad of prices. New Home sales in the Lake Wylie SC area have increased from 75 in 2014 to around 200 per year at the end of 2017.

Sales of existing Homes in the Clover-Lake Wylie-York area zip codes of 29710 and 29745 although not quite as strong as its counterpart Steele Creek were close to 1300 over the past year. The top seller in that area is the well-seasoned “Jewell” of them all, the magnificently well planned Community of River Hills with close to 80 closings and an average sales price up 15% to $354,000.

WATERFONT MARKET UPDATE

Median prices continue to rise in the waterfront market due to low inventory and high demand, as of this writing there were just 57 active listings in both Carolinas down from the 120-140 we experienced for a few years with only 6 priced below $500,000. The 1 Million plus market was very active with 16- 1 Million Dollar plus Homes closed in 2017 and currently 12 were on the market. A total of 169 waterfront Homes sold down slightly from the year before with a median price pushing close to $700.000 up from the low $600,000’s that were steady for some time.

As urbanized Charlotte continues to gobble up large tracks of land for high density development the demand from those looking for the serenity and peace of Lake living along the shores of Lake Wylie will find it more and more difficult to afford.

Lake Wylie and and US Real Estate Market Report

The steadily improving US economy, sustained job growth and rising confidence that now is a good time to buy a Home should pave the way for an increase in existing Homes sales in 2018 according to forecasts by the National Association of Realtors.

Nationally existing Home sales will finish at a pace of 5.47 million the best since 2006 but still about 1.1 million less than that all-time best mark.

The lack of inventory has pushed prices up 48% from the low point of 2011, locally the Steele Creek area remains one of the hottest markets in the Country, the population is expected to jump 20-25% over the next 5 years, and for most of us originally from the area this is both a blessing and a curse.

Closings in the past 6 months are at 834 with 211 under contract and currently 221 listed for sale.

Prices on Waterfront Homes have steadily gone up and finding anything under $600,000 is tough sailing. Homes for sale are at an all-time low at this writing of only 78.  Median price is over $750,000 all record breakers.

Enough of the boring stats, if you’re planning to buy a Home or Condo now should be it, sitting on the fence so to speak is going to price you out of that dream Home. Quarterly prices have been increasing in some areas by 8% in the Charlotte area.

Buyers in the region are flocking to areas closer to Uptown Charlotte and prices are skyrocketing. Commute times and just being closer to the action seem to be the driving force. As traffic worsens that trend will surely continue and speaking of traffic it seems that it increases daily.

As a former member of the York County Planning Commission I always said the reason people left their former Cities and Towns and moved to this area will be the same reason they leave this area, Taxes, traffic, crime and poor planning.

David has been a Real Estate Broker, Developer and Contractor in the Charlotte area for 40 years and is currently Principle Broker and Partner of Lake Wylie Realty, David and his wife Karen live on Lake Wylie and are both Charlotte natives.

Copyright 2017 David McCorkle