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

Lakefront Living: 721 Anchors Bend Cove

Take a look at this beautiful custom waterfront home on Lake Wylie that features resort-style living at its best. This 3,400 square-foot home features four bedrooms, three bathrooms and is situated on over five acres of land.

Not only does this property feature a tremendous amount of curb appeal and beautiful outside features, but inside the home is equally detail-oriented with coffered and barrel ceilings, a huge master suite and bathroom with separate vanities and a gorgeous soaking tub, stainless steel appliances in the spacious kitchen, plenty of space for indoor entertaining and recreation throughout the home, and beautiful windows that let in lots of natural light.

Outside, you will find a saltwater pool and hot tub, outdoor cooking areas by the pool as well as the by the dock, and two dock options for access to the lake.
The views from the backyard space are simply stunning, and this location cannot be beat. The property offers privacy and peacefulness but is only minutes away from the dining, retail, entertainment and endless recreation of Lake Wylie.Furthermore, the home is on the South Carolina side of Lake Wylie, so residents can take advantage of the lower taxes there. For more information on this stunning waterfront property at 721 Anchors Bend Cove listed at $1,299,000, be sure to visit LKWRealty.com.

New infrastructure projects are happening in Lake Wylie

Many new developments are on the horizon for Lake Wylie, particularly infrastructure projects, which are great for the city, its residents, and the local economy. Most recently, a $1.75 million construction contract was awarded by York County Council for an intersection realignment at SC 557, Griggs Road and Bate Harvey Road, right beside Griggs Road Elementary School. The project should help with the traffic and safety of the area, and it is slated for completion by the end of 2017.

A lane-widening project is also underway at SC 274 and 279, and the $25.7 million  project is expected to be completed in 2020. Another multi-lane widening project of SC 557 that only totals about $4.3 million will also be completed in the same year. As far as this year is concerned, residents can expect a shoulder-widening on Paraham Road, with completion anticipated for this fall.

These infrastructure projects are part of the Pennies program, which has been very successful overall but has faced cost estimate issues. Many projects have turned out to be more expensive than anticipated, and there are discussions on how to fix this. There is a new staff in place overseeing the program, which could assist in making better cost estimates, as well as utilities assessments.

Overall, there is plenty of positive change in the pipeline for the infrastructure of Lake Wylie, and the Pennies project has been widely successful in helping to implement this change. For more details on these infrastructure projects and others and what it means for Lake Wylie as well as York County as a whole, be sure to read the full article at heraldonline.com.

Waterfront property on Lake Wylie: 212 Twin Coves Lane

Waterfront property is some of the most sought after real estate in Lake Wylie. This charming gem on Twin Coves Lane is back on the market and is in one of the best locations, while featuring phenomenal main channel views. It is conveniently located near everything you could want or need, including plenty of shopping, grocery stores, and local restaurants. Plus, you can take advantage of all that Lake Wylie has to offer in the way of recreation, including boating, skiing, picnics and more.

Furthermore, the town of Lake Wylie offers easy access to the big city amenities of Charlotte all while providing a fantastic community in which to live.

This 1970s traditional style home features three bedrooms and one and a half bathrooms and totals 1,300 square feet on a lot that is almost one and a half acres. This move-in ready home features recently updated carpet as well as an old caboose on the property.

This waterfront find boasts an expansive tree-lined backyard, a floating dock, a boat house, a deck and many more perks.

For more information on this property or others like it, visit LKWRealty.com or call 803-831-8588.

Main Channel Views: 212 Twin Coves Lane

screen-shot-2016-12-11-at-3-44-28-pmIf you are in search of a lovely waterfront property on Lake Wylie, you won’t want to miss this charming home on Twin Coves Lane. The property is off the beaten path, giving it a sense of privacy and seclusion, while still being extremely close to every business and restaurant that  bustling Lake Wiley has to offer. Plus, with big main channel viwes and a move-in ready home, you can’t go wrong.screen-shot-2016-12-11-at-3-45-03-pm

This home features three bedrooms, one and a half bathrooms occupying 1,300 square feet on a lot that totals almost one and a half acres. The home features brand new carpet and a two-car carport, as well as a boat house, deck and floating dock for your boating needs. Furthermore, the huge tree-lined property and fenced yard is great for playing or entertaining with friends or family. And, the property includes and old caboose!screen-shot-2016-12-11-at-3-44-51-pm

This lakefront home offers a fantastic opportunity to reside in the ever desirable town of Lake Wylie, with its picturesque landscapes, avid boating community, thriving local economy, and easy access to Charlotte’s big-city amenities. Moreover, the lucky owners of this Lake Wylie home can take advantage of South Carolina’s low taxes.

Take a look at this fantastic property today, because at $335,000, you will not want to miss this opportunity to live on the water in one of the best locations. Call 803-831-8588, or visit our website at LKWRealty.com.

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!

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 heraldonline.com.

 

Location, location, location: 14620 Rainbarrel Road

Screen Shot 2016-08-21 at 8.56.20 PMCheck out this beautiful custom built Lake Wylie home on Rainbarrel Road that features gorgeous main channel water views. Not only is this a waterfront property, but the location is fantastic! It is close to wonderful dining, including plenty of waterfront restaurants, as well as great shopping from small boutiques and major retailers. The home is only a 20-minute drive from uptown, 15 minutes from the airport and five minutes from the new outlet mall, all while being perfectly situated on Lake Wylie.Screen Shot 2016-08-21 at 8.57.02 PM

This four bedroom, three bathroom home totals 2,721 square feet. Nearly every room in the home features views of the lake and there is tons of natural light throughout. There are also multiple outdoor decks for you to enjoy the view, whether it be during your morning cup of coffee or to take in the evening sunset.

Screen Shot 2016-08-21 at 9.24.29 PMThe home sits on a very private almost one-acre lot and features a newly installed AC unit. Built in 2003, this new-constriction home also features a huge basement, a carport and garage, a fireplace, and a fantastic floor plan.

The marina is within walking distance from the home and features a pool and boat dock. You will not want to miss this move-in ready property currently listed at $685,000. This is a rare waterfront find you must see for yourself! For more information on this  property or others like it, call 803–831–8588 or visit our website at lkwrealty.com.

Main channel views: 212 Twin Coves Lane

Screen Shot 2016-07-31 at 8.57.55 PMLake Wylie is such a desirable town to live in, offering picturesque landscapes, easy access to Charlotte’s big-city amenities, and a fantastic community. With its bustling yet charming center of new businesses and restaurants as well as plenty of new commercial development on the horizon, the tons of waterfront property here are icing on the cake. Screen Shot 2016-07-31 at 8.58.24 PM

This home for sale on Twin Coves Lane is in the best location imaginable and features tremendous main channel views from its waterfront lot.While conveniently located to everything you could want to be near in Lake Wylie, it is still considered a bit off the beaten path.Screen Shot 2016-07-31 at 8.58.12 PM

It is a traditional style home built in 1970 and has three bedrooms and one and a half bathrooms totaling 1,300 square feet on an almost one-and-a-half-acre lot.  The carpet in the home has been recently updated and the house is move-in ready. The property also includes an old caboose! Screen Shot 2016-07-31 at 8.58.02 PM

Enjoy beautiful views from your backyard or floating dock with the pleasure of living on a waterfront property. This home also features a boat house, deck and fenced yard, as well as a two-car carport.

The tree-lined property and expansive backyard are great for families or pets.

At $335,000, set up an appointment today to view this great home. Click the link to visit our website, or call 803–831–8588.