Sellers Market Appears to Stay Strong in Lake Wylie

Toronto-Real-Estate-Stock-MarketYear over year, homes in Lake Wylie are selling in less time, 117 days down from 153 days. This is 23.5% faster than a year ago per the May monthly report released by the Carolina Regional Realtor Association.

Inventory is smaller by 20.2% over the same time last year, down to 376 homes from 471. This appears to bear out the trend we have been following showing the seller’s market staying strong at the current time.

The average sales price in Lake Wylie is $368,003 with the median sales price at $329,172. However, new listings are up by 9.3% year over year with 153 new listings in May. Year-to-date 376 homes have already sold in Lake Wylie up 14% from last year when only 347 homes had been sold by the end of May.

The number of new listings was up again this month from 140 to 153, an increase of 9.3%, as more sellers are listing their homes. The number of homes sold was also up from 91 last year to 109 this year. This represents a 19.8% increase. The continuing trend is significant for both buyers and sellers.

In the City of Charlotte, the trend is still dramatic. Year over year, homes are selling in 86 days down from 97 days last year. Homes within the City are selling for an average of 97.8% of list price up from 96.5% in 2015. There are 1.9 months of inventory down from 3.1 months. There has been a 4.8% increase in new listings as more sellers are taking advantage of the seller’s market. This means there is more demand for less supply driving prices higher.

The entire Carolina MLS Region, which includes parts of South Carolina, the trend is less dramatic, but is showing the same pattern. Year over year, the inventory supply is down while sales price is up, days to close are down and new listings are up. We will have to wait and see how the market changes as the hotter months usually lead to a slow down in the cooler months. Will the sellers continue to have a great market or will the buyers begin to have the advantage? We will have to see what next month’s report has to tell us.

Fort Mill has a new huge development project on the horizon

Screen Shot 2016-06-06 at 8.10.08 PMFort Mill is undergoing quite a bit of development as 2,900 more homes and apartments are planned along Spratt Street and Fort Mill Parkway. John Spratt, who owns more than 700 acres at the site, presented a plan with partners on Wednesday night to the Fort Mill Town Council to add residential, commercial and recreational space in a new mixed use development there.

The hope is that such land development will be part of the solution to continue to develop and improve Fort Mill, and it will contribute to securing its future. The plan would take over approximately 688 acres along the bypass. The land there would be rezoned from light industrial to mixed use in the town. Another 23 acres currently zoned for residential use would be rezoned to mixed use. Then a development agreement would allow for up to 1,700 single-family homes, up to 1,200 “other residential” units, between 250,000 and 500,000 square feet of commercial space, more than 60 acres of park and recreation space, more than 60 acres of open space and approximately three acres to expand the nearby wastewater treatment plant.

The plan would not happen overnight, as a 20-year buildout is anticipated with the hopes of selling the land to a developer in early 2017. This huge and record-breaking development project could potentially bring about 900 more new residences than is currently provided by the Massey and Waterside subdivisions combined.

As a means for controlling traffic and a need for more schools with so many new residences, the planning commission is recommending to require at least 15% of the residences be age restricted to seniors.

Town Council will have the final say on the annexation of the land, the rezoning and development agreement at a public hearing expected to take place on June 13.

Previously proposed large residential projects met with opposition because rezoning without  annexation would impact the town without providing tax revenue. This proposal, however, is different, as the largest part of the project is zoned light industrial, therefore not allowing for residential use. However, there is still some proposed zoning for residential development, which many are happy to see. Residents in particular are looking forward to more athletic field space as well as the opportunity for property owners to develop land how they see fit.

The plan still needs a little bit of tweaking, as well as approvals from Town Council and the public hearing. But all in all, it is looking good for Fort Mill.

For more details on the project, read the full article at heraldonline.com.

 

Neighborhood Spotlight: Chapel Cove

The New York Times ran a story today stating that houses keep getting bigger even as families get smaller. New construction homes have more square footage, more bedrooms, and more bathrooms than they did in 1980. However, the average size of a household has shrunk to 2.58 people.

Chapel Cove Entrance Sign

Chapel Cove Entrance Sign

Chapel Cove in Lake Wylie is a fantastic master planned new construction community where you can get a larger home you desire with all of the features you want.

Homes in Chapel Cove start in the $200’s and range all the way up to the $800’s or more with custom features. Arranged by developer Crescent Communities, Builders include Pulte Homes, CalAtlantic Homes (formerly Standard Pacific Homes) and taylor morrison.

Homes range in size from 2509 square feet to over 4000 square feet. Features of the home depend on the builder but can include gourmet kitchens, outdoor living spaces, luxury bathrooms, private lake access and more.

A recently sold home in Chapel Cove

A recently sold home in Chapel Cove

Amenities include a multi-use club room with kitchen for community events, cardio and strength fitness room with after-hours access, swimming pool with children’s splash area and adult gathering area, tennis, basketball and pickleball courts, multiple gathering and lounge areas around the pool deck, hard and soft surface trails around the amenity center, canoe and kayak launch and an activity lawn.

Located close to Steele Creek just off Shopton Road West, Chapel Cove has Lake Wylie to the North and west. Thomas McAlister Winget Park is to the east with a playground, soccer fields, basketball courts and a disc golf course. A short drive to the South is the 1100+ acre McDowell Nature Preserve with a Nature Center, campground, hiking trails, play areas, fishing and boating access.

Chapel Cove has convenient access to a myriad of outside attractions. Multiple routes give you easy access to I-485, which means that uptown Charlotte, the U.S. National Whitewater Center, Carolina Place Mall, Ballantyne, and The Charlotte Douglas International Airport, to name a few, are just minutes away.

Chapel Cove pool with children's splash area

Chapel Cove pool with children’s splash area

Currently there are 33 homes on the market in Chapel Cove with 8 under contract. They are listed in price ranging from $296,990 to $$825,000. In the last year homes have sold for between $369,850 to $599,900.

Read the full New York Times story here.

Town Spotlight: Clover

The Clover area of Lake Wylie is a special one, lying just south of the Carolina border with all of the beauty that Lake Wylie has to offer, as well as countless local conveniences and a great location. Located in the Northwestern part of York County, legend holds that the town got its start in the late 1800s when a small cluster of homes was built round a 5,000 gallon water tank. Large clover patches grew where excess water spilled, and thus, the name “Clover” stuck. Clover offers great schools, lower taxes and tons of waterfront properties.

Clover and the surrounding area offer a small town feeling, however it allows for easy access to big city perks with its close proximity to Charlotte and Gastonia, North Carolina, as well as Rock Hill, South Carolina. These rapidly growing urban areas offer exceptional dining, great shopping and endless entertainment, as well as a diverse job market.clover1

The housing market in Clover is balanced, with 5.2 months of inventory currently available, indicating neither a buyer’s nor seller’s market. There are also plenty of waterfront properties consistently available in and around Clover. Over the last five years, there has never been less than 23 active listings for waterfront property in any given month, and as many as 49 listings have been available at once.clover2clover3clover4

 

While the majority of waterfront listings in Clover in 2015, both closed and new, had sales prices of $500,000 or greater, there were still many listings at lower price points. However, the first half of 2016 has yet to see a listing for less than $400,000, possibly indicating an appreciation in the market value of homes here.

Take a look at all of the waterfront properties that are currently available in the Clover area, and find your dream home!

 

Charming waterfront home: 8728 Island Point Road on Lake Wylie

LW1If you are looking for a charming waterfront home in The Sanctuary, this home is not to be missed! Located in the Steele Creek neighborhood, the lot alone, with such gorgeous water views, is worth more than the asking price. You have the flexibility to live on the property as is or to build your dream home.

This 1,000 square foot home with two bedrooms and one and a half baths offers tons of storage plus a detached three car garage, which could be converted to a studio apartment for guests.

Situated on 170 feet of waterfront on Lake Wylie, the home includes a dock, boat lift and generously-sized covered porch. You can launch your boat from your own back yard! In addition to being a waterfront property, the home is situated on over an acre of land.LW2

The kitchen offers a breakfast nook in addition to fantastic bar seating and opens up to the family room, making it a very functional living space.LW3

The Sanctuary, a lakeside community on Lake Wylie in Charlotte, is conveniently located to everything you need while offering an idyllic setting. Within five miles of the community, you will find the popular RiverGate shopping center, which offers groceries, big box stores such as SuperTarget and Best Buy, and plenty of eateries and more. Plus, the conveniences and diversity of all the Charlotte neighborhoods are close by.

Don’t miss this opportunity to get into The Sanctuary at a steal.  There are no HOA dues in the community and you will not want to miss these views!

For more information on this property and others like it, call 803-831-8588.

 

Fantastic waterfront property: 7215 Buckland Road in Charlotte!

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Rear of home takes full advantage of the water views with large deck spaces, terraced back yard and lots of windows!

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Front of home, which blends beautifully with its surroundings and wooded land

This waterfront home has everything you need for a fantastic Lake Wylie lifestyle and is convenient to the Steele Creek area of Charlotte and major thoroughfares to keep you connected to the outside world.

Tucked away in Brown’s Cove on the Catawba River, this beautiful 1990 cedar-sided home is priced at $635,000 and offers more than 240 feet of cove shoreline with deck, docks and boat lifts for making the most of a waterfront lifestyle.

 

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Fish or launch your boat or Jet Ski from your own back yard!

Inside, the home is chock full of beautiful woodwork, hardwood floors, wood paneled ceilings and exposed beams. Oversized windows bring nature inside and flood the main living areas with natural light.

 

livingroom

Big, beautiful windows and natural wood tones bring warmth to the large living area that overlooks the water.

This home has 3 bedrooms and 3 bathrooms and more than 3,300 square feet of living space, including a 3rd story loft area. The property also has a detached 2-car garage with plenty of storage space!

The master suite with its sunken hot tub is located off the main level living area, which is wide open with expansive hardwood floors and vaulted ceilings. A beautiful stacked stone fireplace creates a beautiful focal point and gathering area for friends and family.

The well-appointed, open kitchen includes a peninsula bar with seating and lots of prep space.

The lower level walk up has a wood-burning stove and plenty of space for a game room, rec room or just extra living space or home office.

This lovely home is situated on nearly an acre of land west of I-485 near the Dixie-Berryhill area of Charlotte. It is not in a subdivision so there is no HOA or deed restrictions.

From this home at 7215 Buckland Road, I-485 is less than 3 miles away at Steele Creek Road. There you will also find great shopping at Charlotte Premium Outlets.

The entire Charlotte area is close at hand:

  • Charlotte Douglas airport is approximately 9 miles away
  • Uptown is less than 12 miles away
  • SouthPark is 10.5 miles
  • Ballantyne is 14 miles via I-485
  • Carowinds is 11 miles

For nearby and everyday shopping, WhiteHall Commons Shopping Center, which has Publix, Lowe’s and WalMart, is less than 6 miles from home.

This spectacular home is a chance to own waterfront property at a great price and is definitely worth a look!

803-831-8588

Lake Wylie, Charlotte inventory continues to drop in March

Inventory is low across the entire Carolina Multiple Listing Service area. This includes the Lake Wylie area, which saw inventory levels drop by 20% in March from year-ago figures.  low-inventory

Homes for sale in March dropped to 361 from 451, according to monthly statistics released by the Carolina Regional Realtor Association.

The lowered inventory and rising demand also reduced time on market for Lake Wylie-area homes, which dropped 36% to 76 days. Year-to-date days on market also dropped by 16% to 89 days from 106 days for the same period in 2015.

The average price of Lake Wylie-area homes remained largely unchanged at $350,787 for year-over-year, while the year-to-date average sales price rose 15% to $361,960.

This is a sign of increased demand in a time where there is not enough on the market to satisfy buyer needs. There was only 4.4 months inventory in March, which is a drop of 2 months from March 2015.

The reality is most sellers are also buyers, which makes listing a house a scary prospect if you are not sure you can find the ideal home to move into. That could be one factor in the 30% drop in new listing for March. Year-to-date new listings were down 15% to 338 from 2015.

In Mecklenburg County as a whole, the number of new listings was nearly unchanged from a year ago at 2,435, and the average sales price jumped 4.3% to $280,665. Where Mecklenburg Co. took the biggest hit was in inventory, which fell nearly 42% in March to 1.8 months. Days on the market dropped to 51.

The City of Charlotte saw inventory fall to below 2 months as well (1.7 months), while the average sales price jumped 2.2% to $271,386. New listings dropped by almost 5% to 1,891 for March.

Luxury waterfront in Belmont’s Reflection Pointe

The Belmont community of Reflection Pointe is an upscale, gated neighborhood on the tip of the peninsula formed by the Catawba and South Fork rivers.

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This beautiful waterfront property sold in 2015.

The waterfront community is just 10 minutes south of historic downtown Belmont via Southpoint Road and has 362 home sites for your perfect custom home. You can bring in your own builder or choose from the community’s list of approved builders. There are many homes already built but also many lots available.

Reflection Pointe’s location is fantastic with only a 30 minute commute into Center City and about 25 minutes to Charlotte Douglas airport. Both Wilkinson Boulevard and I-85 can bring you to I-485 loop.

Community amenities include a freeform, lagoon-style swimming pool, clubhouse, lighted tennis courts, paved walking trails, recreation field, playground and a marina with deeded boat slips and a sandy beach.

Some of the builders that have built custom homes in the neighborhood are McSpadden Custom Homes, Rouse Builders and Yeary Homes.

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The view from one of the waterfront homes in Reflection Pointe.

Interior homes start in the $400,000s, and waterfront homes are $900,000 and up. Lots are priced from $150,000 to $450,000 for dockable waterfront and $50,000 to $100,000 for interior lots.

Three resale homes sold during the last 12 months in Reflection Pointe for an average sales price of $845,000 and $162 per square foot. Two of the homes sold were waterfront properties; one sold for $1.3 million and the other $870,000. The interior home sold for $365,000.

There are currently 8 homes listed for sale in Reflection Pointe.

Four of the properties are waterfront – 3 resale homes and 1 pre-construction home. The waterfront home list prices range from $839,000 to $1 million. Two are under contract as of April 7.

One beautiful water view resale home is listed for $850,000.

The remaining 3 homes for sale are interior resale homes and range in list price from $499,900 to $630,000.

For information regarding building lots, see the Reflection Pointe HOA web site.

Homes in the neighborhood are zoned for Gaston County’s Belmont Central Elementary, Belmont Middle School and South Point (N.C.) High School.

Spotlight: The Vineyards on Lake Wylie

vineyards

A beautiful manicured lawn surrounds the lighted entrance to The Vineyards.

The Vineyards on Lake Wylie is a single-home and condominium community that offers waterfront living while still being minutes from Charlotte Douglas airport, Uptown and historic downtown Belmont.

Located west of the airport on the peninsula adjacent to Belmont, The Vineyards is just south of Wilkinson Boulevard and west of I-485.

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Waterfront home sites with docks awaiting building!

Have no fear of airport noise! With flight paths traveling parallel to the neighborhood, there are no low-flying aircraft over The Vineyards to disturb your peace and quiet!

Including a great location on the water and near the city, the neighborhood offers waterfront homes and a 50-slip marina for boat storage.

Neighborhood amenities include a dog park, walking trails, boat slips and docks, playgrounds, pool with water slide and clubhouse with community room.

The D.R. Horton community, which started going up in 2009 with the condominium construction, is geared toward both families and empty-nesters with two distinct neighborhoods.. Though not age restricted, one section features ranch homes or master bedroom down plans for active adults. Lawn care is included in the HOA fees for those homes.

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A walking trail meanders past the resident boat slips.

The Napa Cottages, Kenwood Villas and Salinas Estates. The homes range in size from 1,356 square feet to 2,755 square feet and start in the $230,000s. Kenwood Villas are attached residences, with 4 homes per building and 2-car garages. There are 6 ranch plans for single-family, detached residences.

In its family-oriented neighborhood, The Vineyards has 8 2-story home plans ranging in size from 2,500 square feet to 3,205 square feet. Prices start in the $250,000s.

Calistoga is the neighborhood’s larger family floor plans that start at 2,560 square feet and $249,000. All the plans have 4 bedrooms and attached 2-car garages. Most plans include a large first-floor family room and 2nd floor bonus space. The Cambridge plan offers a third level and expands the home to 6 bedrooms and 2 bonus spaces.

Waterfront properties currently listed on The Vineyards’ site are priced from just under $451,000 to $536,000.

There is no sales data available on the single-family home portion of The Vineyards yet, however, the townhomes are selling at an average of 1.7 per month during the last 12 months for an average price of $277,245 and $124 per square foot.

There are currently 46 townhomes listed for sale in The Vineyards, both new construction and resale residences. Nineteen are under contract as of April 5.

There are many nearby destinations outside The Vineyards. Metro Charlotte is a 20-minute commute. Downtown Belmont and the U.S. National Whitewater Center are both about 15 minutes away. Toward the west are Kings Mountain and Crowders Mountain state parks.

If you love the idea of staying near the city and not making a move further south to the Tega Cay area then The Vineyards on Lake Wylie is a perfect compromise of seclusion and convenience for nearby shopping, dining and activities. With active adults in mind, there is surely a home to fit every family!

Neighborhood spotlight: Clover’s Tullamore

tullamoreentrance

Great Clover schools, lower taxes and nearby Lake Wylie are just a few of the reason to take a look at the Essex Homes community of Tullamore in Clover!

Tullamore is just south of Autumn Cove and Crowders Creek Elementary School off SC 49/274.

Just 5 miles from the state border, Tullamore is convenient to all the lake-area amenities as well as 25 minutes from I-485/I-77 interchange near Westinghouse Boulevard. Nearby recreational destinations include Daniel Stowe Botanical Garden, McDowell Nature Preserve and Crowders and Kings mountain state parks.

Shopping and dining is very close just north of Tullamore at the intersection of Highway 557. There is a Lowe’s, WalMart as well as restaurants, banks and a grocery store. Further east on 49 there are even more dining options before crossing the Buster Boyd Bridge toward McDowell Nature Preserve.

For boaters, there is access near the Buster Boyd Bridge and Lake Wylie Marina.

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An Essex Home in Tullamore

Neighborhood amenities include a picnic area and playgrounds.

Essex Homes is in the process of building out the 101 home sites in Tullamore, and only new construction is available.

The homes in Tullamore range from 2,100 square feet to 4,096 square feet and are priced starting in the $300,000s. Both ranch and 2-story homes are available in Tullamore on generously-sized lots. Essex is offering 10 home plans with a range of customizable options.

There are currently 11 homes listed for sale in Tullamore. Only 2 homes are under contract as of March 3.

A total of 7 homes have sold in the last 12 months in Tullamore. The average sales price for the homes that have sold in Tullamore is $308,409 and less than $96 per square foot.

The neighborhood is zoned for Crowders Creek Elementary School, Oak Ridge Middle School and Clover High School.

Essex Homes is also building homes in The Bluffs and Handsmill on Lake Wylie.