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

Lake Wylie rezoning could mean more homes

A property totaling nearly 180 acres in Lake Wylie is up for rezoning, and if the county approves, 178 new homes would be built on this land located between Three Points and the Pole Branch intersection at 457 Highway 274 along Mill Creek.

The current zoning of the property does not allow for apartments and only permits one home unit per lot “not on less than an acre each and the total site can’t exceed a two acre per unit average.” The potential rezoning, which will not be confirmed until mid July at the earliest, would only alter the rules pertaining to lot size, and would not “limit how many homes can be built by acreage.”  The goal of the rezoning is to build up the neighborhood and to expand the growth there.

The new community of homes plans to showcase and amenity area that would be facing the lake. Plus, residents could take full advantage of all of the perks of living in Lake Wylie, with endless recreation and easy access to all the area’s conveniences, as well as a simple commute to the big city of Charlotte.

For more details and information on this possible rezoning that would lead to a large residential development, as well as what it would mean for one of the busiest intersections in the Lake Wylie area, be sure to read the full article at

Market Update: March

Home prices in the entire Carolina MLS area just continue to rise, with housing inventory in the Charlotte region at a low, and a growing demand for property in this super hot real estate market. Home sales increased 11.5% in March 2017 as compared with the same month of 2016. This increase is a whopping 54% jump compared to February 2017. Plus, the average list price was up 9.4% in March as compared with the same month in 2016.
Inventory in Lake Wylie was also down 28.6% in year over year numbers for March, however there was a 9.1% drop in the average sales price of homes. New listings, though, were up 35.8% in March 2017 versus March 2016.
In Fort Mill, inventory is also down, but the average sales price is up 14.5% in year over year numbers, and new listings are surprisingly down 3.5%.

With the low months supply of inventory and few new homes being listed on the market, a rise in sales price is fairly predictable. Across the nation, there has been a steady and constant increase in home sale prices. They are rising the quickest they have in approximately three years, and Charlotte as a whole still has these nationwide numbers beat.

Mortgage rates are also higher now than compared with those of a year ago, and this, coupled with higher home prices, may eventually temper the heightened demand for housing in Charlotte. Currently, homes seem to sell almost as soon as they are listed, so buyers will want to act quickly when they find a home they are interested in.

Charlotte definitely has a seller’s market on its hands, with low inventory, rising home prices, and a surge in home sales. For more details and info on what this means for home buyers and sellers alike, be sure to take a look at the full article at

Steele Creek is home to one of nation’s most thriving zip codes

A suburban community in Steele Creek just outside of Lake Wylie has made‘s list as one of the countries hottest 50 ZIP Codes for home sales.
Throughout the entire Charlotte region, home sales have been on the rise as have new construction projects. New home construction, however, “is moving at a faster pace in the Steele Creek area compared to the city as a whole, according to Metrostudy, which tracks new home construction.” All of this new development means the booming Steele Creek community is drawing plenty of home buyers.

Current inventory available in this region is at just the right price point to continue to attract those ready to purchase a new home, but potential buyers have to act quickly if they are interested in a property because homes here are not staying on the market long.

The median sales price of homes here in March was $193,475 compared to the $220,950 price point for the overall Charlotte region. The greater affordability os good for buyers, plus, with the speed at which homes are selling, owners are even more tempted to put their homes on the market, with much more confidence that they will sell quickly. Thus, the market is good for sellers, too.

There is a ton of growing potential for this area because there is so much land available for new development projects.

For more details and information on one of the hottest ZIP Codes in the country, be sure to read the full article at

Neighborhood Spotlight: Regency at Palisades

Regency at Palisades is a luxurious resort-style, active-living community located in southwest Charlotte. Conveniently situated in the Lake Wylie region right off of Highway 49 and just minutes from I-485, the community is only a half hour drive from Uptown Charlotte.

This neighborhood features beautifully maintained grounds, stunning homes and a country club lifestyle. Homes range in size from approximately 2,000 square feet to over 4,000 square feet and include 10-foot ceilings, hardwood floors, granite countertops, stainless steel appliances and upgraded cabinetry. These new construction homes offer customizable design for a truly personalized living space.

The neighborhood amenities are still underway will ultimately include a country club with an exquisite 18-hole golf course and New England inspired clubhouse, which will include a swimming pool, tennis courts and more.

Lake Wylie is just minutes away and offers 325 miles of shoreline and over 12,000 acres for fishing, water sports, picnicking and much more, with a number of public marinas, waterfront restaurants and state parks.

Regency at Palisades currently has 28 homes on the market representing nine. Nine months of inventory. This level of inventory indicates a buyer’s market, which is not the norm for the area, where the overall Charlotte region has only 3.7 months of inventory, thus representing a seller’s market.

The average price per square foot has remained fairly consistent and has not strayed far from approximately $186 over the past year. Furthermore, home sales have also been fairly consistent, averaging approximately three sold per month over the last year.

If you are looking for a new-construction community in the Lake Wylie region, you will not want to miss the beautiful properties in the Regency at Palisades neighborhood.

Shiloh Farms beauty: 1490 Canter Lane

An absolutely beautiful new listing is available in Shiloh Farms that features 3,200 square feet with four bedrooms and three bathrooms on a massive 10.8-acre lot. The property is also home to a guest house with detached eight-car garage. Horses are welcome on the property that features a fishing hole and beautiful view of the 32-acre community lake just over the dam. This is a perfect place to live for horse owners or horse lovers, and the neighborhood offers plenty of outdoor recreational options.

This desirable home was built in 2008 and has solid wood floors, crown molding, and tray ceilings. The large kitchen features granite countertops, a double wall oven, a large island and plenty of cabinet space. The master bathroom features a tile shower, whirlpool tub and double vanity, and there is tons of walk-in storage space throughout the entire home, including the attic and crawl space. This home also features a generously-sized front porch as well as a bonus heated sunroom.

Shiloh Farms is a lovely community of stately homes situated on expansive lots in York, South Carolina. It is conveniently located between the I-77 and I-85 corridors. York offers a strong sense of community and a slower pace than the big city metropolis of Charlotte. Furthermore, Shiloh Farms is located just 25 minutes from Lake Wylie, which offers plenty of outdoor recreation and charm. Plus, residents can take advantage of South Carolina’s lower taxes.

This property in Shiloh Farms just hit the market and it is listed at $714,900, and for more information on this home and others like it, be sure to visit

Monthly Market Update: February

Let’s take a look at the real estate market stats for February for the entire CarolinaMLS Area, according to the Charlotte Regional Realtor Association.

Inventory for the Charlotte region is still incredibly low, and was down 28.1% last month as compared with February 2016. However, it is worth noting that even though closed sales were only up .5% in year-over-year numbers, pending sales are up 18.4%, indicating that closed sales are going to pick, as well.

Lake Wylie’s inventory numbers are fairly similar, with a 20.6% drop in year-over-year  numbers for the months supply of inventory available. However, closed sales are down 25.4% for the area, and pending sales are only up 7.5%.

There is better news for Fort Mill and York County as a whole, though, in terms of pending sales and market activity, where February saw an increase by 44.4% and 43.3% respectively, as compared with pending sales from February 2016.

Even though sales have been slow, the notable number of pending contracts may mean there are many future sales on the horizon and more potential sellers are listing their homes. The 15% increase in listing activity this month  as compared with January is a strong indicator that sellers are gaining confidence in listing their homes.
Stay tuned for next month’s real estate stats, as the market across the entire Charlotte region continues to thrive.

Featured Listing: York’s 1775 Canebrook Glen

Your beautiful new home could be awaiting you in the desirable neighborhood of Bethelfields. This four bedroom, two and a half bathroom home totals 2,348 square feet on nearly a quarter acre lot. The open floor pant plan features a kitchen and breakfast bar adjacent to the great room, which includes a charming fireplace for chilly nights.

There are numerous upgrades throughout the house including hardwood floors throughout the downstairs level, as well as upgraded tile in the kitchen. The master bedroom features double walk-in closets, a spacious bathroom with a garden tub and a large double vanity. In addition to the four bedrooms, the second story of the home also features a loft/bonus space, which is perfect for a kid’s play area or home office.

Bethelfields is a lovely community conveniently located in Lake Wylie and sits in the Clover school district, which features some of the best schools in the state. This family-friendly neighborhood boasts a swimming pool, playground, picnic tables and more. Residents can also take advantage of a community storage lot for boats, trailers and RVs.

Living in Bethelfields offers a small town vibe with the convenience of living between several metropolitan areas, including Charlotte, Rock Hill and Gastonia for all of the big city amenities you could dream of.

You won’t want to miss this gem of a home, and for more information on this home or other properties like it, be sure to visit

Neighborhood spotlight: Clarabella

Clarabella is a beautiful community located in the growing Southwest Charlotte region in the Lake Wylie/Steele Creek area. It is an intimate, pedestrian-friendly, new-construction community that features beautiful views with innovative ranch and two-story single-family homes. Located just off of Rock Island Road and Shopton Road West, the neighborhood is conveniently located near major corridors, business and office parks, and entertainment. With easy access to I-485, Highway 160 and Highway 49, you can be anywhere you want to be in just minutes. Retail and entertainment options close by include Charlotte Premium Outlets, Carowinds, the US National Whitewater Center, Lake Wylie and Rivergate Shopping Center.

This community features all brand-new construction with many desirable features, including stainless steel appliances, guest suites with full bathrooms, upstairs lofts, and so much more.

There are currently six homes on the market in Clarabella representing 10.3 months of inventory. With inventory in Charlotte overall being historically low, the inventory in this community seems particularly high, indicating that buyers have the advantage here. Other than the drop-off in home sales over the past three months, there has been almost no change in the average price per square foot or the average sales price of homes.

These beautiful new homes feature a variety of floorplans, options and upgrades for a completely customizable house. If you are looking for new construction in the Lake Wylie area with beautiful surroundings and easy access to the big city amenities of Charlotte, Clarabella is not to be missed.

Lake Wylie and Fort Mill boast strong market stats

The housing market in the Charlotte region as a whole is thriving, and that could not be more true for towns like Lake Wylie and Fort Mill. Even with low inventory, there were more than 44,000 homes sales in the overall Charlotte region in 2016, which is up over 8% from 2015.

Local numbers are even better. In York and Lancaster Counties, Lake Wylie had the highest home prices and the largest increase from 2015. pending sales and new listings had the biggest increase in Fort Mill. A big contributing factor to these numbers is the abundance of brand new subdivisions. York County as a whole had the most closed sales, as home sales here outpaced the overall region.

The housing market for the entire Charlotte region is looking good for 2017. Mortgage rates, though on the rise, will still be at historic lows. And, even though low inventory will still mean a seller’s market, buyers will still be looking for properties that sellers have invested in, thus making sellers still having to compete for buyer’s attention.

The market will certainly be competitive, and with such strong market stats for Lake Wylie and Fort Mill, homes will most likely not stay on the market long here. Expect the real estate market to thrive in the coming year, and for more details on what’s on the horizon in 2017, be sure to read the full article at