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.

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.

Neighborhood spotlight: Clover’s Longlea Estates

Longlea Estates is a beautiful neighborhood of stately homes located in the desirable town of Clover, which features low South Carolina taxes and one of the best school districts around. This neighborhood of custom-built, newer construction single-family homes is great for families and features a variety of floor plans,  and homes are situated on generously sized lots.

There are currently two homes on the market here representing 1.5 months of inventory, which is incredibly low and definitely indicates a seller’s market for this neighborhood. Clover as a whole has 5.1 months of inventory representing a fairly balanced market. Longlea Estates is clearly a desirable neighborhood with homes not staying on the market for long. The current average list price is $219,450.

While there has been a little bit of fluctuation in the average price per square foot, the square footage price hasn’t strayed far from $71 over the last year. There has, however, been a slight increase in the average sales price over the last 12 months.

Clover features a small town vibe but offers easy access to Charlotte’s big city amenities. Furthermore, Clover is conveniently located near all of the recreation of Lake Wylie and also features its own charming shopping, dining and entertainment.

You do not want to miss Longlea Estates, and for more homes available and other great neighborhoods in and around Lake Wylie, be sure to visit LKWRealty.com.

Neighborhood Spotlight: Retreat at Sunset Ridge

The Retreat at Sunset Ridge is conveniently located in the Lake Wylie/Clover area of South Carolina. This desirable, tucked away neighborhood features beautiful new construction estate homes that are completely customizable.

Homes in the neighborhood range in size from 2,600 square feet to over 4,400 square feet and can feature anywhere from three to six bedrooms, two master suites, gourmet kitchens, media rooms and more. Residents of the community can take advantage of not only the great school district here, but also of the lower York County taxes.

There are currently six homes on the market here representing 14.4 months of inventory. Thus, the Retreat at Sunset Ridge is definitely a buyer’s market. York County and Lake Wylie as a whole have 4.3 months and 5 months of inventory respectively, indicating a slight favor towards the sellers. However the ample inventory in this neighborhood gives buyers the advantage.

That being said, there has been very little change in the average price per square foot over the last year, with only a slight increase. The current average list price is $447,242.

The community offers easy access to the local public library as well as to great healthcare. Plus, it is conveniently located near Carolina Place Mall, Baxter Village, Rivergate Shopping Center and more.

If you are looking for beautiful new construction homes in a highly sought after part of town, you will not want to miss the Retreat at Sunset Ridge in Lake Wylie.

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.