June’s numbers reflect a steady drop in inventory

Screen Shot 2016-07-24 at 8.05.27 PMA sellers market continues to prevail in Lake Wylie as well as in the entire Carolina MLS area.  June’s market update from the Charlotte Regional Realtor Association indicates a massive drop in the month’s supply of inventory, down 31.8 percent  from the 2015 June numbers. There was also an 8 percent  increase in the average sales price of homes, and an increase in sales price is a typical result of low inventory. Furthermore, the median sales price of homes has been steadily on the rise since 2012 and the trend is continuing.Screen Shot 2016-07-24 at 8.04.04 PM

Fort Mill’s inventory is also down from June of the previous year, however only by 13 percent. Lake Wylie’s inventory is down 29 percent, and York County’s inventory as a whole is down 28.9 percent.

Closed sales in York County, Lake Wylie, Fort Mill and the entire Carolina MLS area were down for June. However, Lake Wylie saw a lot of activity last month, with pending sales up over 52 percent from the year prior.  Fort Mill’s pending sales were up over 34 percent , and York County’s pending sales were up 32 percent. There was definitely a lot more action in June 2016 than there was in June 2015, also indicating a strong seller’s market.

With strong sales as well as a steady drop in inventory in the region, the average sales price continues to rise and sellers are seeming to have the upper hand.

June’s regional stats are fairly indicative of national real estate numbers. Inventory is low in many major markets across the country and housing prices are climbing.

Stay tuned for next month’s market update and a look at the region’s trends.

Spotlight: The Coves on River Oaks


The beautiful Coves on River Oaks offers residents large home lots in a peaceful lakeside setting.

Developer May Green Properties planned the 250-acre neighborhood that has just 160 home sites. It is located just north of the intersection of highways 557 and 274. It’s just 2 miles north of the Buster Boyd Bridge.

Aside from the proximity to Lake Wylie and all it has to offer, the neighborhood has walking trails and lots of common area green space. Additionally, it is close to local shopping, dining and restaurants.

Veranda Classic Homes has 6 floor plans to choose from or buyers can choose their own builder for a 3,000-square-foot minimum home size. The homes are priced from the high $400,000s to the $700,000s.

A custom Craftsman-style home that sold in The Coves on River Oaks last year.

Some of the custom builders in The Coves are MJ Palmer Construction Co., Aspen Homes, Beckham Custom Homes and Holmes Construction.

The first 3 phases of the community sold out, and May Green is offering “estate” lots of 4 to 10 acres in size. Even the standard home size lots of 1.4 to 3 acres are large compared to most planned community lots. There are no waterfront lots but many water view lots.

Currently, 8 homes are for sale in The Coves on River Oaks. One home is a 2010 resale home and the rest are new construction. Three are under contract as of March 1.

Only 4 of the 9 homes sold during the last 12 months were resale homes. The average sales price was $582,478, with an average price per square foot of just under $139.

Resale homes sold for an average of 94.5% of list price. The overall sales average was 97% of list price.

Fewer than 1 home sells per month in The Coves, which puts inventory at more than 8 months. Nearby neighborhood The Landing has 9 months of inventory and 9 homes currently listed for sale.

The Coves on River Oaks is zoned for Crowders Creek Elementary, Oak Ridge Middle School and Clover High School.

York Co. proposes housing freeze


A new proposed ordinance would not allow any further building permits to be issued in York Co. communities where there is a concern of the impact of rapid growth, such as the Lake Wylie area.

The York County Council is moving to enforce this is in unincorporated areas of Fort Mill and Bethel townships, according to a Rock Hill Herald report.

In addition to the Lake Wylie area, the land between the Catawba River and North Carolina line would also be impacted by the proposed freeze.

Concern came from residents currently living in the high-growth areas that the areas were being overbuilt and that roadways were not meant to handle the increased traffic more building would bring.

All new construction of single-family and multi-family homes would be stopped until an impact study can be completed.

A detailed outline of the proposed ordinance is expected to be ready for a council vote April 4.

Concern over the construction boom is not a new issue for the Lake Wylie area. A little more than a year ago there were 20 subdivisions planned or under way. Those projects alone would cover 2,000 acres.

While the increased population helps the local economy, it also puts strain on public services, like roads and the school system.

York County Councilman Bruce Henderson last year called for a building moratorium and tighter restrictions on future construction. His effort failed, though the county has made an ongoing effort to change county codes.

It appears the county will revisit this issue again April 18. Population density is definitely a concern for an area and community that prides itself on living a laid-back, lakeside lifestyle.


Builder buys hundreds of acres on Lake Wylie

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Bonterra Builders has purchased a large tract of land near Lake Wylie in southwest Mecklenburg County, according to a report in the Charlotte Observer.

Bonterra, whose homes are also in Lake Wylie’s Heron Cove and Belmont’s Morgan Branch, purchased a 213-acre tract off York Road for approximately 6 million, the report said.

The land is southwest of McDowell Nature Preserve just before the bridge. The southern border of the land purchased abuts the waterfront homes on the north side of Boyd’s Cove.

The report did not give a timeline or a plan from Bonterra for the land.

Bonterra lists 29 communities in and around the Charlotte region it has planned or completed.

It builds homes in all price points from the $100,000s to near $900,000. The homes in Lake Wylie’s Heron Cove are large in size and are priced in the $400,000s.

With Bonterra’s development likely coming to the Boyd’s Cove area, now is the time to get in on a beautiful waterfront home there.

This gorgeous ranch built in 2000 has expansive waterfront views throughout and nearly 5,000 square feet of living space. Screen Shot 2016-02-09 at 9.38.44 AM

The home has been fastidiously maintained and is ready for summer fun and watching sunsets from the porch!

Spotlight: Belmont’s Adams Bluff


If you’re in the market for a house and like the idea of small-town living then look no further than Adams Bluff in beautiful downtown Belmont.

Just 3 blocks from the quaint center of town, Adams Bluff is south of Wilkinson Boulevard between Park and Catawba streets.

Moving to Belmont does not mean giving up conveniences, however. Downtown Belmont is bustling with restaurants, shops and Belmont’s own Rivermen Brewing Co., which will be within walking distance when it moves to its new downtown location on Ervin Street.

For commuters, downtown Charlotte is just 10 miles away, and the airport is only 6 miles. For recreation, the U.S. National Whitewater Center is a quick 6 miles down the road, as is the Daniel Stowe Botanical Garden.

Homes in Adams Bluff range in size from about 1,000 square feet to 2,000 square feet. Despite being so close to downtown, the neighborhood is surrounded by wooded areas and has 4 walking trails throughout.

An average of 1 home has sold per month in Adams Bluff over the last 12 months. Currently, there are 3 homes listed on the market, all of which are under contract. Adams Bluff’s 3 months of market inventory is still well below the average for Belmont and Gaston County, which have 5.2 and 5.4 months, respectively.

Homes have sold for more than list price in the neighborhood during the past year, bringing the average seller discount to just 0.5%. Of the 12 homes sold, only 4 sold for below full list price or more than list price.

The highest and lowest sales prices in the neighborhood were $169,900 and $120,000. Expect to pay an average price per square foot of about $111 in Adams Bluff.

Belmont is rapidly evolving as a standalone destination and not simply a bedroom community for Charlotte’s work force, and Adams Bluff is a perfect place to call home!

Escape hectic life in Heron Cove

Screen Shot 2016-01-14 at 7.46.40 PMHeron Cove on Lake Wylie is the best of work and play. Its location makes traveling to Charlotte or Rock Hill a quick commute, less than 20 minutes for both. For recreation, all of Lake Wylie’s 12,000-plus acres is out your door to be enjoyed!

The neighborhood of 104 home sites, located just west of the Buster Boyd Bridge, is full of custom homes built by 5 builders on lots of a half acre to 1.5 acres. There is a community pool, walking trails and Lake Park for residents to enjoy.

The nearby River Hills Plantation Country Club features an 18-hole golf course, tennis courts, a fitness center and other amenities. Daniel Stowe Botanical Garden is nearby, as is Coffer Dam, one of the best fishing spots on the lake. McDowell Nature Preserve is just across the bridge on Highway 49. The 1,100-acre preserve is largely undeveloped and home to lots of wildlife.

Homes in Heron Cove range from the $400,000s to $900,000s. According to the Heron Cove Web site, there are still interior and waterfront lots available.

Currently, there are 3 homes listed on the market in Heron Cove. Over the last 12 months fewer than 1 home per month has sold. The average sales price is $486,737. The average price per square foot is just under $127.

Six homes sold in Heron Cove in 2015 for an average of 98% of list price.

If you’re interested in living on the lake then take a look in Heron Cove. The real estate market heats up with the weather, and you don’t want to miss out on Lake Wylie life!

Lakefront Living: Tips On Purchasing Lakefront Property

lakefrontLakefront homes are a certain niche in real estate. Choosing to live on a lake requires a certain amount of lifestyle choices to consider. Typically, homes located on a lake are considered more valuable, which leads to a higher price tag. Even when the housing market declines, the lake housing market holds steady as the value does not decrease with the market. When considering the purchase of a lakefront home, it is important to consider many factors. Here are a few tips before purchasing lakefront property.


Location: Be conscious of where the house is located on the lake. This could include an area of the lake that is rocky or sandy, if the windows primarily face the lake, or if there is a boat launchpad nearby.
State of the Home:  When looking to purchase a home on a lake, consider that there is constantly moisture in the air. Be wary of purchasing a home that has had previous damage or issues with affected wood, metal or stone that is attached to the home. Contact a home inspector for this step, if possible.
Hire the Right Realtor: The right realtor will understand what you are looking for and avoids wasting your time on properties that are not within your budget. You want a realtor you can trust to help you attain the best deal on your next home.
If you’re in need of a realtor in Lake Wylie, contact Lake Wylie Realty!







Just Listed Riverpointe Waterview SOLD


This is a beautiful home with fantastic year-round water views. The home is a true custom with features that impress as soon as you enter the front door. Extensive landscaping includes both irrigation and lighting features. The incredible view along with convenient water access afforded by the community marina allows for the true lakefront lifestyle at a fraction of the cost. This is a must see home! SOLD IN ONE WEEK!!!

River Hills Property of the Month SOLD

River Hills Entrance

RIVER HILLS CONDO 13 Longbow, Lake Wylie: Beautiful end unit that is move in ready. Numerous upgrades including bathrooms, kitchen, floors, and enclosed patio. HVAC system has been replaced and is under warranty. Fresh paint and new carpet make this condo look like new. Great location with immediate access to the marina, pool, and walking trails. Call Quinn 704-906-6636 SOLD