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: Kings Grove

Kings Grove is a beautiful neighborhood filled with distinctive new homes with easy access to everything Charlotte has to offer. In addition to being able to take advantage of the lower South Carolina taxes, the neighborhood is in a renowned school district, making it perfect for a family home. King’sGrove is also just minutes away from Lake Wylie, which offers a range of fun activities from fishing, to swimming, to hiking. The neighborhood itself includes amenities like walking trails, sidewalks, a swimming pool, and cabanas.

Shopping, dining, and entertainment options are also located just minutes away from the Lake Wylie area. Some popular nearby attractions include the famous Carowinds Amusement Park as well as the McDowell Nature Preserve. This nature preserve has playgrounds, campgrounds, walking trails, and lake of its own.

Currently there are 5 homes on the market in King’s Grove which represents 6.7 months of inventory. This makes the neighborhood a balanced market compared to York County as a whole which has more of a seller’s market.

In the last year the average sales price and average price per square foot have both slightly increased. Homes in King’s Grove range from 2100-3900 square feet and are listed between $299,000 and $346,000. Most homes built have 3-4 bedrooms.

With so many fun amenities both within the neighborhood and nearby, King’s Grove could be perfect for your next family home!

 

Neighborhood Spotlight: Heron Cove

Heron Cove is a serene neighborhood located near Lake Wylie. The neighborhood offers large homesites in order to best preserve the beauty of the land around it. Residents of Heron Cove get to enjoy South Carolina’s lower taxes as well as the benefit of being in one of the best school districts in the state (Clover school district).

Heron Cove offers many amenities, the largest one being its Waterfront Park. This puts all the amenities of Lake Wylie at your fingertips, providing the perfect place for swimming or fishing. There are even storage racks for resident’s kayaks and canoes. In addition to water based activities, the Waterfront Park also provides the perfect setting for picnics and fire pits.

Throughout Heron Cove there are many winding walking trails, perfect for enjoying the natural environment of the area. There is also a children’s park to offer a safe place for kids to play.

Currently there are 3 homes on the market in Heron Cove which represents 2.6 months of inventory. This makes the neighborhood a seller’s market similar to that of York County as a whole.

In the past year, the average sales price of homes as well as the average price per square foot have both decreased. Homes are priced anywhere from $450,000 to $650,000 and land sites are priced from the $60s.

Heron Cove is a peaceful neighborhood that offers small town comforts while still being close to big city amenities. It is the perfect place for nature-lovers to check out for their next home!

Neighborhood Spotlight: Handsmill on Lake Wylie

Handsmill on Lake Wylie is a beautiful gated community that combines natural beauty with resort-style amenities. Homes are right on the lake offering exclusive access to all the activities Lake Wylie has to offer. These activities range from fishing to boating to hiking. The neighborhood even has two private marinas and boat ramp solely for residential use.

Hndsmill also offers many amenities within the neighborhood. For nature-lovers, there are many walking trails and green space to spend time in. But the centerpiece of the neighborhood is the luxurious Handsmill Club complete with a state of the art kitchen, two gathering areas, and a large outdoor patio perfect for entertaining. There are also amenities like a junior olympic swimming pool and fitness center only available to residents. For children, there is a separate playground. But while Handsmill offers seclusion and natural beauty, it also has the advantage of being within half an hour of all the activities Charlotte has to offer.

There are currently 3 homes on the market in Handsmill which represents 6 months of inventory. This means that right now there is a balanced market in the area, which is comparable York County as a whole, which also leans towards a balanced market.

In the last year the average price per square foot has slightly decreased while the average sales price of homes has stayed roughly the same.

With so many wonderful natural and community amenities, Handsmill at Lake Wylie is definitely worth checking out!

Neighborhood Spotlight: Heron Cove

Heron Cove is a beautiful neighborhood on a quiet peninsula of Lake Wylie, offering all the peacefulness of the lake along with many neighborhood amenities and local activities. The neighborhood has large plots of land to fully take advantage of the surrounding woodland and lake.

One of the best amenities of Heron Cove is its Waterfront Park. There, residents can swim in the lake or fish from the shore. There is even a storage rack for residents’ canoes. In addition to activities on the water, the park is the perfect place for picnics or barbecues and even has a fire pit. For children, there is a separate park filled with many family friendly options for kids. The Heron Park Swim Club is also a popular option for residents to socialize and swim.

Heron Cove is in Clover School District, one of the best districts in South Carolina which is also a big plus for families. Residents are able to enjoy the lower taxes of South Carolina while the city life of Charlotte is just minutes away.

Currently there are 7 homes on the market in Heron Cove which represents 7 months of inventory. This means that Heron Cove is leaning towards a buyer’s market compared to the more balanced market of Lake Wylie as a whole.

In the last year, the average sales price of homes and average price per square foot has slightly increased.

With so many local and neighborhood amenities, Heron Cove is definitely worth checking out for your next family home!

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.

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.

Charlotte’s River District is its biggest new development in decades

screen-shot-2016-12-11-at-3-51-33-pmJust east of Belmont, between Charlotte Douglas International Airport and the Catawba River, lies Charlotte’s River District, the newest, massive, mixed-use master-planned development to hit Charlotte in decades. The potential for such a project, conveniently located right near the airport and only eight miles from Uptown Charlotte, is huge.

This new development aims to create a walkable, urban environment that showcases a variety of housing in a community that really connects with nature. Developers plan to take advantage of the unique topography, woodlands, streams and creeks that the area is home to. While developers plan to build housing, retail space, office space and more, the plan for development also calls for preserving approximately 500 acres of land and using that land for mountain biking, walking and hiking trails with a walkable community laid out around them.

Approximately 10,000 people will occupy the new homes here, which will range from very moderately priced homes all the way up to luxurious estate homes. With the hopes of having some of the trails open to the public possibly as early as the summer of 2017, as well as completing construction on the first stage of the residences in the next two years, final completion of the entire project, which is slated to be as big as Ballantyne occupying approximate 1,400 acres, is not expected for about 30 years. The project will be completed in stages, but given its size and scope, it will certainly take quite a bit of time.

Stay tuned for the ongoing development of the River District. And, for more details and information on the project, check out the article at WCNC.com.

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.