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 realtor.com‘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 CharlotteObserver.com.

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 Heraldonline.com.

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Market update: November

screen-shot-2016-12-18-at-6-48-40-pmNovember’s numbers are in from the Charlotte Regional Realtor Association, and Charlotte’s housing market continues to boom with lots of activity. Home sales soared with a jump up 19.7% from November 2015. Inventory continues to struggle to keep up with demand, and prices are on the rise. Furthermore, mortgage rates are also on the rise, so buyers were moving quickly last month to close on their homes to avoid the increasing rates.

The near 20% increase in year-over-year numbers for homes sold in November meant an additional 522 properties closed last month .

In addition to the number of home sales jumping, sales prices also rose by 8.1% as compared with November’s numbers from 2015. Rising home prices can certainly be attributed at least in part to low inventory. November’s inventory for Charlotte as a whole dropped to a 2.6 months supply represented by 9,770 properties for sale. Lake Wylie’s year-over-year months supply of inventory dropped to 3.3 from 5.2, which is a 36.5% drop in inventory. The average sales price of homes in Lake Wylie is up 16.6% for November from 2015. York County’s inventory is also down this year with 2.3 months of inventory in November, and so is Fort Mill’s inventory, down to 2.1 months.

Nationally, mortgage rates are on the rise, and local trends reflect a steady drop in inventory as well as an increase in home prices. Stay tuned for what’s to come in December, when market activity is expected to stay active.