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

Tega Cay and Fort Mill are safest cities in South Carolina

There is good news for residents of Tega Cay and Fort Mill, as well as for those looking to move to these cites. Both of the cities topped the list among the top 50 safest cities in South Carolina, coming in first and second, respectively, according to the National Council for Home Safety and Security.

Tega Cay and Fort Mill consistently rank among the safest cities to live in, with a very strong police department and fire department, both of which maintain great community relations.

The National Council of Home Safety and Security bases it’s rankings on “federal crime reports, population data and in-house research.” On average, there are seven violent crimes per 1,000 people in South Carolina, and Tega Cay hardly registered a percentage with only one violent crime against its entire population of over 9,500 people. And, Fort Mill has less than two crimes per 1,000 residents. Furthermore, the total number of property crimes in Tega Cay and Fort Mill fell well below the state average. These stats truly exemplify just how safe these areas are to live in.

For more details and information on the safety honors for  both of these great cities and what it means for the residents there, be sure to read the full article at Heraldonline.com.

Plenty in the pipeline for Fort Mill

Plenty of potential new development is in the pipeline for Fort Mill, with a variety of proposals recently submitted to York County planners. One major proposal includes a 4-acre residential community located off of Sutton Road at 1879 Camber Woods in unincorporated Fort Mill between existing sections of Baxter.

Furthermore, an additional 147 townhomes may be built at Regent Park on a property that totals approximately 46 acres. Another residential development that may come to fruition is a single-family subdivision off of Kennel Road in Fort Mill between Springfield and Foxwood totaling approximately 29 acres.

As far as commercial development goes, there is a warehouse distribution center totaling 370,000 square feet that could potentially be moving to Lakemont Business Park on the 60-acre site near Carowinds. Also in the works is a convenience center at 2093 Fort Mill Parkway that will include a permanent trash and recycling center. There is also a plot of land on the corner of US 21 and Garrison Farm Road in the Fort Mill area that was an auto sales site and is up for redevelopment.

There are discussions of a new school located at 1894 Zoar Rosd near Tega Cay on a near two-acre plot of land, among many, many more potential projects. All of these projects have submitted preliminary proposals to the county and are waiting on approval.

For more details and information on what could be to come in Fort Mill and the surrounding area, be sure to read the full article at Heraldonline.com.

New high school opening in Fort Mill

Fort Mill’s growing community and thriving Saint Anne Catholic School mean big changes for the local school.
A new high school will be opening in Fort Mill this fall, as Saint Anne High School will be moving from its Rock Hill campus to Saint Philip Neri Catholic Church in Fort Mill.  Only the high school will be held at the Fort Mill church, while pre-K through middle school classes will still be held at Saint Anne Catholic School in Rock Hill.

In 2012, Saint Anne was accredited, and in 2014, it expanded to include pre-kindergarten all the way through grade 12. The high school originally began with only six students and is now up to 50. They have been looking for more space for over a year and have finally found it at the Saint Philip Neri Catholic Church. The school as a whole is up to approximately 350 total students.

The school’s move fills a practical need, as it clearly needed more space, and it is also representative of the growing Fort Mill population and community. Feedback from the community has been extremely positive and parents of the Saint Anne students have supported the move. Saint Anne has students from Charlotte, Chester, Fort Mill, Indian Land, Lake Wylie and York, as well as Rock Hill.

For more details and information on this new school’s move and expansion and what it means for the Fort Mill community, be sure to read the full article at Heraldonline.com.

Fort Mill’s Strawberry Festival is coming to town

With Spring in the air and summer on the way, berry season is getting under way, and there is no better way to ring it in than a local and delicious strawberry festival.
Fort Mill residents are getting ready to gear up for what will be the eighth annual South Carolina Strawberry Festival this weekend. Springs Farm strawberries will be the star of the show, and they will be available for picking from the fields and will also be showcased throughout the festival events. This is a great opportunity for the whole family to come out for a great day of yummy entertainment.

Attendees of the festival can come out and not only pick their own strawberries, but they can also participate in and watch plenty of fun, including the strawberry cake eating contest, appearances by Berry Be Good, the strawberry mascot, and a  pig race that will end with a kiss from the Strawberry Queen.

The annual strawberry pageant already took place as a way to raise money for a local cause. The winner of the pageant was crowned Miss Strawberry Festival Queen 2017.

While the strawberries are of course the main focus of the event, the festival will also showcase more than 100 local businesses and art vendors from the Fort Mill community.

For more details and information on this family friendly event happening in Fort Mill, be sure to read the full article at WCNC.com.

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 CharlotteObserver.com.

New eateries and more at Kingsley in Fort Mill

The new Kingsley Village Town Center in Fort Mill is in a prime location for restaurants, and plenty of chain eateries have taken notice and are getting ready to move in. Located just off of exit 85 from Interstate 77, the shopping center is now home to one of its largest anticipated restaurants, Carolina Ale House, which can seat up to 350 guests inside as well as an additional 150 guests outside. It is a convenient location for families with kids to eat at and then walk around a bit, and there are patrons who frequent the restaurant for drinks after playing golf nearby. Furthermore, Carolina Ale House is perhaps the largest restaurant employer in Fort Mill. With 70 TV screens and a diverse menu, the restaurant has a little something for everyone.

In addition to the newest 7,000 square-foot Carolina Ale House, additional upcoming restaurant tenants include a Starbucks coffee shop, a Smashburger, a Panera Bread, a Clean Juice bar, A Brixx pizza place, and a Corkscrew Winery, for now.

Kingsley Village is a mixed-use development occupying 626 acres and a recently opened new Courtyard Marriott hotel with 125 guest rooms. Additionally, 200 apartments are also planned for the development, and 48 of which will be located above retail shops in the town center. Kingsley Village is also home to Lash Group, which plans to employ 2,400 people at its facility, as well as LPL Financial, which expects 3,000 employees at its Kingsley facility.

Kingsley is a rapidly developing area, and for more details and information on what is to come, be sure to check out the full article at Heraldonline.com.

More potential development for Lake Wylie, Fort Mill and more

Plenty of residential and commercial development is on the horizon in Lake Wylie, Fort Mill and all over York County. Many projects are still in the planning phases, but locals  could expect some big changes around town.

Lake Wiley’s Mill Creek Commons could be the potential new site for a new apartment community right across from the Harpers Green subdivision. This will be a significant residential addition as Mill Creek Commons is already home to many commercial retailers, including Walmart, Lowe’s, McDonald’s, Bank of America, Wachovia, Walgreens and Zaxby’s.

Furthermore, the 13-acre Public Storage site at the corner of Bonum Road and SC 49 could be home to even more new mini warehouses.

Fort Mill may be getting a new vet clinic at the North Carolina state line just off of Hamilton Place. Also in Fort Mill, a 5,000 square-foot space at 3004 US could undergoing a change from retail space to restaurant space.

There are also talks of building a 157-lot subdivision in the Rock Hill area just east of Hands Mill Highway. County planners are also discussing expanding another home subdivision at Shadow Lane and Brush Creek Road, and expanding a single-family subdivision west of SC 901.

These are just a few of the projects that county and city planners are deliberating over. For more details on these potential developments and others in the area, be sure to read the full article at heraldonline.com.

 

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.

Fort Mill’s corporate growth creates fundraising opportunity for local nature preserve

Fort Mill is home to the Anne Springs Close Greenway,  which is an extensive area of protected nature preserve that totals approximately 2,100 acres and includes lakes, forests, pastures and trails. The greenway is the perfect place for hiking, biking, kayaking, horseback riding and more.

Maintaining the greenway is no small feat, and a fundraising drive was initiated recently in an attempt to raise $211,000 annually to pay for maintenance of the land.

There has been a tremendous amount of corporate growth in and around Fort Mill, and with that growth comes new and more employees to the area. The greenway is capitalizing on that growth and aiming to better connect with local CEOs and business people that could help in fundraising efforts for the nature preserve.

The Anne Springs Close Greenway not only needs corporate donations, but also participation from employees who can volunteer or host corporate events at the greenway.

There have been a number of efforts to generate interest and create buzz around the greenway and all it has to offer, including a business breakfast, a social media-focused marketing campaign encouraging people to take selfies on the greenway, and a hiking event.

For more information on what the  Anne Springs Close Greenway means to Fort Mill, as well as on recent fundraising efforts to support the preserve, be sure to read the full article at bizjournals.com