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.


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

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!

York County development is thriving

screen-shot-2016-10-09-at-8-38-29-pmThe Lake Wylie real estate market and local economy continue to thrive as the area welcomes new businesses as well as new housing developments.

York County is moving forward on the development fast track with plenty of new restaurant openings, grocery store openings and residential construction on the horizon in Lake Wylie and Fort Mill. There have been a lot of discussions between county staff and property developers with regard to what’s next.

A new single family subdivision is in the preliminary planning stages at SC 49 and Daimler Boulevard on more than 430 acres of land owned by Crescent Communities. Moreover, 5800 Charlotte Highway is a possible new site for a gas station, convenience store and used car lot.

Furthermore, Lakeside West Center will soon be home to a multi-tenant retail center at 429 Blucher Circle. A new restaurant could be joining the shopping plaza at 131 Evergreen Road, and a Captain D’s may go in at the Shoppes at the Landing. The Pleasant Road area of Fort Mill is also going to be home to a new German-based Lidl grocer.

As far as recreation is concerned, a new swim center is proposed for 3354 Highway 160 West on a seven-acre lot, and a gymnastics center is proposed for Maxwell Road off of Pleasant Road in Fort Mill on two and a half acres.

There is more than enough to keep your eye on here, and for more details and information on all of the exciting new commercial and residential developments happening in Lake Wylie, Fort Mill and the surrounding area, read the full article at

Market report: Waterfront sales

screen-shot-2016-10-02-at-4-47-13-pmLet’s take a look at the year-to-date numbers for waterfront properties in and around the Lake Wylie area.

With the first three quarters of the year under our belt, the housing market, and particularly waterfront sales, are looking good for Lake Wylie and the surrounding region.

Year-over-year numbers indicate that the average number of homes sold per month are up, with 105 homes sold so far in 2016 (approximately 12 homes sold per month) as compared with only 91 homes sold through the third quarter in 2015 (approximately 10 homes sold per month).

Furthermore, the average list price has increased from $548,000 in 2015 to $608,000 in 2016, the average sales price has increased from $525,000 in 2015 to $580,000 in 2016, and the average price per square foot has increased from $172 in 2015 to $190 in 2016.

Even though the current number of waterfront homes on the market, 130 to be exact, represents 10.8 months of inventory which would be considered a buyer’s market, the year-over-year numbers reveal positive trends for sellers. Plus, based on what is on the market now in Lake Wylie and the surrounding region, the average price per square foot is $221 and the average list price is $875,000, and both of these numbers are notably higher than last year’s numbers at this time.

In the first three quarters of 2015, homes spent an average of 124 days on the market, and in 2016 homes spent an average of 142 days on the market, indicating slightly less activity this year and a sign that buyers may have the upper hand now.

So, while, inventory points to favoring the buyers, other stats are looking favorable for sellers. It’s a win-win!

Major development is happening in York County

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Exciting things are happening in and around the Lake Wylie area, and if you have been thinking about moving to the area, now may be the best time yet.

Development plans are in full swing in York County, with major residential projects on the horizon in Lake Wylie, and plenty of commercial construction happening in Fort Mill, as well. There are currently several hundred acres of land up for review for new construction plans across the region.

The southwest corner of US 21 and Gold Hill Road occupying almost 25 acres is tentatively planned for four commercial 30,000-square-foot buildings, plus another 20,000 square-foot building, as well as plenty of parking.  The property is currently zoned for residential use but rezoning efforts are in the works. This will be big!

There is also a residential subdivision in the planning stages in Lake Wylie on a piece of property owned by Crescent Communities, a very prominent developer. The proposed site is located at SC 49 and Daimler Boulevard, and plans include the development of single family homes.

There are also plans for an apartment complex at the corner of SC 49 and Senator Road, just east on Mill Pond Road. Furthermore, another car wash could also be moving into the Lake Wylie area on a 15 acre lot on SC 49.

So much growth and development throughout York County shows signs of a strong economy here as well as it being a desirable place to live. As the community grows and more residential options become available, the business community will also continue to thrive. For more details on the projects currently underway in Lake Wylie and Fort Mill, read the full article at


Fort Mill has a new huge development project on the horizon

Screen Shot 2016-06-06 at 8.10.08 PMFort Mill is undergoing quite a bit of development as 2,900 more homes and apartments are planned along Spratt Street and Fort Mill Parkway. John Spratt, who owns more than 700 acres at the site, presented a plan with partners on Wednesday night to the Fort Mill Town Council to add residential, commercial and recreational space in a new mixed use development there.

The hope is that such land development will be part of the solution to continue to develop and improve Fort Mill, and it will contribute to securing its future. The plan would take over approximately 688 acres along the bypass. The land there would be rezoned from light industrial to mixed use in the town. Another 23 acres currently zoned for residential use would be rezoned to mixed use. Then a development agreement would allow for up to 1,700 single-family homes, up to 1,200 “other residential” units, between 250,000 and 500,000 square feet of commercial space, more than 60 acres of park and recreation space, more than 60 acres of open space and approximately three acres to expand the nearby wastewater treatment plant.

The plan would not happen overnight, as a 20-year buildout is anticipated with the hopes of selling the land to a developer in early 2017. This huge and record-breaking development project could potentially bring about 900 more new residences than is currently provided by the Massey and Waterside subdivisions combined.

As a means for controlling traffic and a need for more schools with so many new residences, the planning commission is recommending to require at least 15% of the residences be age restricted to seniors.

Town Council will have the final say on the annexation of the land, the rezoning and development agreement at a public hearing expected to take place on June 13.

Previously proposed large residential projects met with opposition because rezoning without  annexation would impact the town without providing tax revenue. This proposal, however, is different, as the largest part of the project is zoned light industrial, therefore not allowing for residential use. However, there is still some proposed zoning for residential development, which many are happy to see. Residents in particular are looking forward to more athletic field space as well as the opportunity for property owners to develop land how they see fit.

The plan still needs a little bit of tweaking, as well as approvals from Town Council and the public hearing. But all in all, it is looking good for Fort Mill.

For more details on the project, read the full article at


Spotlight: The Vineyards on Lake Wylie


A beautiful manicured lawn surrounds the lighted entrance to The Vineyards.

The Vineyards on Lake Wylie is a single-home and condominium community that offers waterfront living while still being minutes from Charlotte Douglas airport, Uptown and historic downtown Belmont.

Located west of the airport on the peninsula adjacent to Belmont, The Vineyards is just south of Wilkinson Boulevard and west of I-485.


Waterfront home sites with docks awaiting building!

Have no fear of airport noise! With flight paths traveling parallel to the neighborhood, there are no low-flying aircraft over The Vineyards to disturb your peace and quiet!

Including a great location on the water and near the city, the neighborhood offers waterfront homes and a 50-slip marina for boat storage.

Neighborhood amenities include a dog park, walking trails, boat slips and docks, playgrounds, pool with water slide and clubhouse with community room.

The D.R. Horton community, which started going up in 2009 with the condominium construction, is geared toward both families and empty-nesters with two distinct neighborhoods.. Though not age restricted, one section features ranch homes or master bedroom down plans for active adults. Lawn care is included in the HOA fees for those homes.


A walking trail meanders past the resident boat slips.

The Napa Cottages, Kenwood Villas and Salinas Estates. The homes range in size from 1,356 square feet to 2,755 square feet and start in the $230,000s. Kenwood Villas are attached residences, with 4 homes per building and 2-car garages. There are 6 ranch plans for single-family, detached residences.

In its family-oriented neighborhood, The Vineyards has 8 2-story home plans ranging in size from 2,500 square feet to 3,205 square feet. Prices start in the $250,000s.

Calistoga is the neighborhood’s larger family floor plans that start at 2,560 square feet and $249,000. All the plans have 4 bedrooms and attached 2-car garages. Most plans include a large first-floor family room and 2nd floor bonus space. The Cambridge plan offers a third level and expands the home to 6 bedrooms and 2 bonus spaces.

Waterfront properties currently listed on The Vineyards’ site are priced from just under $451,000 to $536,000.

There is no sales data available on the single-family home portion of The Vineyards yet, however, the townhomes are selling at an average of 1.7 per month during the last 12 months for an average price of $277,245 and $124 per square foot.

There are currently 46 townhomes listed for sale in The Vineyards, both new construction and resale residences. Nineteen are under contract as of April 5.

There are many nearby destinations outside The Vineyards. Metro Charlotte is a 20-minute commute. Downtown Belmont and the U.S. National Whitewater Center are both about 15 minutes away. Toward the west are Kings Mountain and Crowders Mountain state parks.

If you love the idea of staying near the city and not making a move further south to the Tega Cay area then The Vineyards on Lake Wylie is a perfect compromise of seclusion and convenience for nearby shopping, dining and activities. With active adults in mind, there is surely a home to fit every family!

Neighborhood spotlight: Clover’s Tullamore


Great Clover schools, lower taxes and nearby Lake Wylie are just a few of the reason to take a look at the Essex Homes community of Tullamore in Clover!

Tullamore is just south of Autumn Cove and Crowders Creek Elementary School off SC 49/274.

Just 5 miles from the state border, Tullamore is convenient to all the lake-area amenities as well as 25 minutes from I-485/I-77 interchange near Westinghouse Boulevard. Nearby recreational destinations include Daniel Stowe Botanical Garden, McDowell Nature Preserve and Crowders and Kings mountain state parks.

Shopping and dining is very close just north of Tullamore at the intersection of Highway 557. There is a Lowe’s, WalMart as well as restaurants, banks and a grocery store. Further east on 49 there are even more dining options before crossing the Buster Boyd Bridge toward McDowell Nature Preserve.

For boaters, there is access near the Buster Boyd Bridge and Lake Wylie Marina.


An Essex Home in Tullamore

Neighborhood amenities include a picnic area and playgrounds.

Essex Homes is in the process of building out the 101 home sites in Tullamore, and only new construction is available.

The homes in Tullamore range from 2,100 square feet to 4,096 square feet and are priced starting in the $300,000s. Both ranch and 2-story homes are available in Tullamore on generously-sized lots. Essex is offering 10 home plans with a range of customizable options.

There are currently 11 homes listed for sale in Tullamore. Only 2 homes are under contract as of March 3.

A total of 7 homes have sold in the last 12 months in Tullamore. The average sales price for the homes that have sold in Tullamore is $308,409 and less than $96 per square foot.

The neighborhood is zoned for Crowders Creek Elementary School, Oak Ridge Middle School and Clover High School.

Essex Homes is also building homes in The Bluffs and Handsmill on Lake Wylie.

Spotlight: Lennar’s Southern Trace neighborhood

Located just around the corner from The Palisades on Youngblood Road is  Southern Trace being built by Lennar Homes.

In addition to being convenient to the interstates, restaurants and retail, Southern Trace is convenient to McDowell Nature Preserve, Lake Wylie and Carowinds. Lake access is really close at the Copperhead Island public boat launch next to McDowell Nature Preserve.


This is a 5-bedroom hardboard-sided home that sold in Southern Trace.

Access to I-485 is approximately 20 minutes away. Charlotte Douglas International Airport is 12 miles from Southern Trace via Steele Creek Road, and Uptown is just under 40 minutes away depending on traffic. If works take you to the Ballantyne area then that is only 15 miles away. The closest everyday shopping is less than 3 miles away at Rivergate just east of McDowell.

Southern Trace has a pool and cabana for resident use.

The community offers several floor plans for 2- and 3-story homes on average size lots of a half acre or smaller.

Lennar is offering plans from two of its different home collections – Traditions and The Hall. Many of the homes feature brick and stone veneer with hardboard siding and large front porches.

Traditions homes are priced from $276,990s to $346,490s and are sized from 2,642 square feet to 4,734 square feet. Homes in The Hall collection start at $355,490s up to $429,990s. They are considerably larger starting at 3,567 square feet to more than 6,000 square feet. These plans include 3-car garages and 3-story homes.

There are 25 homes currently listed for sale in Southern Trace and all are new construction. Fourteen of the homes are under contract as of March 30.

Lennar sold 34 homes in the community during the last 12 months. Because it is a new home community, the sales data is not very useful for analyzing the market for Southern Trace homes, but the homes that have sold are averaging $100 per square foot.

The neighborhood is zoned for Palisades Park Elementary School, Southwest Middle School and Olympic High School.

There are many great Lake Wylie-area communities to choose from and Southern Trace is a great choice, especially if you want to be near Lake Wylie and also convenient to the Steele Creek area or South Charlotte.