YTD Market Reflections

More than half of the year has already passed us by, and the real estate numbers for Lake Wylie look good. In fact, only three areas, Mt. Holly, Moresville, and Harrisburg, had a larger increase in closings. This is great news for current homeowners in the area as they can expect to see a stable market for equity in their homes as well as for resale values. It can be challenging for buyers as it means that the market is strong so finding a home can be tricky.

Lets dig into the numbers a bit, all numbers we are looking at are Year-to-date from January to June and we are comparing 2018 to 2019. All of these figures come from the Multiple Listings Services, Inc which is owned by the Carolina Regional Realtor Association. In 2018 there were 601 home sales that closed. During the same period of 2019, there have been 656. This increase of 55 closings represents a rise of 9.2%.

New listings and pending sales are indicators of how the market will do for the next few months as those will head towards the closing table. In 2018 there were 954 new listings. In 2019 so far there have been 1,019. This is an increase of 65 listings or 6.8%. Pending listings were 677 in 2018 and are at 826 in 2019. Increasing by a whopping 22%, this represents 149 additional pending sales.

Price is the other big factor when comparing data from year to year. One waterfront sale can make a big difference in numbers as the sample size is smaller and can be skewed. In 2018, the average price for a home sold was $395,023 and in 2019 it is $396,509. This is a modest increase of just $1,486 which is just a 0.4% increase. Homes are selling a little bit quicker as well, in just 121 days from list to close. This is a whole week quicker than 2018 at this time.

It appears that the Lake Wylie area can expect the real estate market to remain strong at least for the near future. If you are interested in buying or selling a home near or on Lake Wylie, give us a call at 803-831-8588. You can view current listings and create your own custom searches on our website here.

Neighborhood Spotlight: Harpers Green

If you are looking for an elegant townhome in walking distance to shopping, dining, and close to Lake Wylie, check out Harpers Green. This amazing gated community was built between 2010 and 2014 and is zoned for award winning Clover schools.

Harpers Green is located just west of the intersection of Highway 49 and Highway 557 and close to the Buster Boyd Bridge. This means that residents can quickly get to Uptown Charlotte, Charlotte Douglas International Airport, or public boat launches to ignore the world and be at peace with the lake. Just down the road is McDowell Nature Preserve and additional shopping and dining in The Palisades.

Homes in Harpers Green range in size from 2,000 to 2,200 square feet and have 3 or 4 bedrooms and 2.5 bathrooms. These homes have open floor plans, drop zones just inside the oversized one car garages, and lots of storage. Kitchens have oversized islands and many have stainless appliances.

The exteriors are varied, some with stone accents, some have shed dormers, shingles, or brick accents. Homes have patio areas, some with ceiling fans, yards, and firepits. The homeowners association is responsible for lawn maintenance, exterior maintenance, and trash service.

In the past year, 8 homes in Harpers Green have sold for between $205,000 and $265,000. Homes went under contract after an average of just 23 days on the market. Currently there are seven homes on the market here with four already under contract. List prices range from $215,000 to $252,900.

If you are interested in touring homes in Harpers Green, give us a call at 803-831-8588. You can view current listings and create your own custom searches on our website here.

New Development Needs More Time

County planners for York County, SC met on August 1 to review new housing developments. One of the most exciting projects is for a proposed 224 acres that spans from Bethel School Road all the way to Crowders Creek. This is right behind existing homes in Paddlers Cove and the new sports park which is underway. This plan would be on the south side of the creek. This development is in the initial stages of the process and is under review for the preliminary plat and permitting at this point. As we find out more details we will publish them.

The second major development that was discussed was Meriway Pointe with developer Walton Development. They have asked for another extension for their plan for 449 homes on just about 213 acres on the North of Crowders Creek. These extensions are not uncommon and property owners can request up to 5 each year while in the process. This would be the third extension this year on this particular project.

It looks like getting connected to utilities, specifically water and sewer is the holdup at this point. There are some capacity issues that need to be ironed out that are causing delays. They should be resolved soon and the development schedule will be going once again.

Keep in mind that these projects are proposed and could run into substantial hurdles in the days ahead. Additional issues can always crop up as part of any project, large or small. Some or all of the plans could be altered or eliminated as part of the process.

To read more about these neighborhoods and the planning stages, see the full story in The Herald Online here. To schedule a tour of homes in the Lake Wylie area, call 803-831-8588. To view all current listings and create custom searches, click here.

July Market Report

The monthly market report has been published by the Charlotte Regional Realtor Association. They compile data about the entire region as well as parsing the data by city, town, and subregion from the Multiple Listing Services, Inc. This month it shows that we are once again seeing a shortage of homes which is driving prices higher yet. When homes do come on the market, they aren’t sitting long before they go under contract.

This trend has been going on for a while, but this month there was a steep rise in home prices from last year at this time. This deepens the crisis for buyers even as mortgage interest rates are now sitting below 4%.

The median home price rose 10.4% from $240,000 up to $260,000. Homes are spending an average of 38 days on the market before a sale meaning homes are on the market 85 days from listing to closing. There are currently 9,416 homes on the market, down 15.3% from the 11,123 at this time last year.

When we look just at Lake Wylie, the numbers can be skewed because of smaller sample size, but they don’t look as dire as the entire Charlotte region. Median home price actually decreased slightly from $345,750 down to $341,500, a decrease of 1.2%. There are fourteen more homes on the market now than last year at this time, an increase of 3.4%. There are also 42 more new listings this year at this time vs. last year at this time, an increase of 28.6%.

This is hopeful for the Lake Wylie area where pending sales and closed sales were also up from last year. This means that buyers may be starting to be more equal to sellers in home purchase negotiations. Experts say a balanced market has around 6 months of inventory and Lake Wylie currently has a 3.8 month supply. This is substantially better than the 2.3 month supply for the entire Charlotte region.

If you are interested in buying or selling a home in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings and create custom searches on our website here.

Featured Listing: 6620 Gardner Lane

Do you want a waterfront home without the boat traffic on the lake? This home may be the perfect one for you! This amazing home overlooks a peaceful pond making you feel like you are in the country, yet you are close to everything in the city. This home is a true retreat.

Located just off Providence and Rea roads, 6620 Gardner Lane is close to The Arboretum for shopping, dining, entertainment, fitness, personal care and more. A quick trip will have you in SouthPark for the mall, concerts, shopping, dining, and many major employers. Uptown Charlotte is also a short commute for work or for a trip to the museum, a concert, or a sporting event. Getting to the airport for a vacation or work trip is a breeze. This location truly gives you the best of all worlds.

When you arrive at the home, you will be immediately struck by the beauty of the pond that you can see on the right side. When you see the home, you will notice the full brick exterior and three car garage. One of the garage bays has been turned into a workshop that has a separate entrance. The landscaping is lush and low maintenance.

Entering the home you will see amazing hardwood floors, plantation shutters, and amazing woodwork details. The home was built in 2017 and shows like brand new. The chef’s kitchen is sure to amaze and the open floor plan makes great sight lines for watching children. The large windows along the back of the home bring the beautiful pond indoors. Enjoy the screened in porch for evening meals, or a great cup of coffee in the morning.

There are four bedrooms and three and a half bathrooms in a total of 3,728 square feet. That means plenty of room for a family to stretch out. There is great storage in the many closets, built-ins, and laundry room. The home office, outdoor kitchen and outdoor fireplace are sure to please as well.

To schedule a private tour of this home or any other property in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here. To view the full listing for this property, click here.

Neighborhood Spotlight: Mill Creek Falls

If the last bit of summer has you thinking you’d like to live closer to the Lake, Mill Creek Falls could be the place for you. This master-planned community has great amenities, award winning schools, lower South Carolina taxes, and is still close enough to the city for commuting.

Mill Creek Falls was named after Mill Creek, a nearby tributary to Lake Wylie. The neighborhood was initially built between 2005 and 2006, and was completed over the next ten years. There is an active homeowners association which organizes events and activities throughout the year. These range from an annual chili cook-off to an Easter egg hunt. Many of the events are held at the Junior Olympic sized pool, and many at the Clubhouse. In addition, amenities include a children’s pool, tennis courts, gazebo, picnic area with barbecue grill, walking trails, and a six-acre lake for the community to enjoy.

Located off of Highway 274, Mill Creek Falls is just south of the North Carolina state line. This great spot means that you are close to the Lake and public lake access, as well as outlet malls, restaurants, grocery stores, entertainment, and the town of Clover.

Homes in Mill Creek Falls are single-family and semi-custom homes ranging between 2,000 and 4,000 square feet. Most of the homes have 3 to 5 bedrooms and 2.5-4 bathrooms. Average list price of homes is just under $300,000, though there is a pretty wide range depending on features and size of the home.

Currently there are 10 homes for sale in Mill Creek Falls which represents a 4 month supply of inventory. The entire Lake Wylie region now has a 6.1 month supply of inventory. This community has a very stable market with an average of 2.5 homes selling each month. To schedule a private tour of available homes in Mill Creek Falls, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Tega Cay Named Best City to Live in SC

Residents of Tega Cay already know, but recently a financial news and opinion company called 24/7 Wall St. chose Tega Cay as the best city to call home in South Carolina. 24/7 Wall St. is a widely published company based in Delaware.

Some of the methodology to determine the winning city included affordability, safe streets, a strong economy and a variety of options for entertainment. They also used data from the U.S. Census Bureau and the FBI to rank cities, towns, villages, and boroughs with at least 8,000 residents. Overall, 26 different factors were weighed in four categories: quality of life, affordability, economy and community.

Tega Cay ranked the highest in part because of population size (9,026), median home value ($301,200) and % of residents that live in poverty (less than 1%).  Median household income of $120,346, access to water for swimming, boating, and fishing also help Tega Cay top the list. Proximity to Charlotte helped push Tega Cay up to the top as well with access to high paying jobs.

Access to bars and restaurants make Tega Cay stand out. Education level of the population, access to libraries, museums, and movie theaters were factored in as well. Travel time to work, violent crime rate, property crime rate, unemployment, transit methods, and employment growth were used to rank cities as well.

When all was said and done, Tega Cay topped the list. Locals may not be terribly happy that this list is out because it could cause many more people to know about this amazing spot. If you would like to jump on a chance to own a home in Tega Cay, schedule a personal tour of homes with us by calling 803-831-8588. If you would like to view current listings and create custom searches, click here.

To read more about the ranking, click the link to the article in the Herald here.

Neighborhood Spotlight: The Cottages at The Landing

If you love The Landing, but don’t quite have the means to get into one of the amazing custom homes here, The Cottages at The Landing may be just the place for you. These homes have all yard work taken care of by the Homeowners Association, so they are perfect for anyone without the time or the green thumb to care for a yard. This means they are perfect for young professionals, empty-nesters, young families or really anyone.

The Cottages at The Landing backs right up to The Landing neighborhood. This location just off Highway 49 near the intersection of Highway 274 means that residents are just 30 minutes from Rock Hill, Uptown Charlotte, Gastonia, or Charlotte-Douglas International Airport. You are also steps away from Lake Wylie and the whole lake lifestyle.

Residents also enjoy the Shoppes at The Landing with retail, restaurants, banking and more. There are also many other options within walking distance for dining, shopping, groceries, and all of your other necessities. Children in The Cottages at The Landing are zoned for award winning Clover schools. Also nearby are Daniel Stowe Botanical Garden, Kings Mountain State Park, and McDowell Nature Preserve.

Homes in The Cottages at The Landing are mostly 3 bedroom and 2 bathroom with between 1,600 to just over 2,100 square feet of living space. These cottage style homes have open floor plans, perfect for entertaining. These homes have amazing details with trey ceilings, wainscotting, mouldings, hardwood flooring, front and rear porches, and two car garages. Some of the homes have guest suites, home offices, walk-in-closets and much more.

Homes in The Cottages at The Landing don’t come on the market often and they don’t stay on the market long before they go under contract. Prices are typically in the $300,000’s and are a great value. If you would like to schedule a personal tour of homes in this or any other Lake Wylie neighborhood, give us a call at 803-831-8588. You can also view current listings on our website here.

New Development Permitting Center Approved

City council recently voted to approve construction on a new multi-departmental permitting facility. The new permitting facility will reside in the first floor of the Charlotte-Mecklenburg Government Center.

The space is intended to streamline the permitting process and allow all departments to work together more efficiently. City Manager Marcus D Jones said “The CLT Development Center is the product of our efforts to have collaborative partnerships with the development community. We are excited to bring new, innovative ways to work together to create great projects for Charlotte.”

The CLT Development Center space will house service teams from:

Charlotte Department of Transportation (CDOT)

Engineering

Urban Forestry

Construction Inspection

Charlotte Water

Erosion Control

Subdivision

Zoning

Fire

Plan Review Coordination

The new CLT Development Center will provide the same permitting services they do now as well as expedited services for an additional fee. This is great news for anyone doing a large scale remodel or addition to their home. It will also be invaluable for new construction homes as well as custom builds as expedited services can help projects stay on schedule. The CLT Development Center should be open for business in December of 2019.

If you are interested in buying or selling a home in the Lake Wylie area, call us at 803-831-8588. To view current listings and create custom searches, click here.

 

To read more about the Development Permitting Center, click here.

Featured Listing: 1300 Saddle Drive

If you are looking for a home that is a true escape from the hustle and bustle of the city, but you still need to be close to town, this home is for you! The five acre homesite is private and features a hardwood canopy which lends privacy and tranquility.

Located just off highway 49 in York, 1300 Saddle Drive is conveniently close to shopping, dining, schools, churches, and much more. A trip to Uptown Charlotte is just over 30 miles away and a trip to Charlotte Douglas International Airport is just under 30 miles.

As you approach the home from highway 49, you wind up your private driveway to your own personal oasis. The hardwood canopy screens your private pool from view of neighbors. Enjoy chilly nights gathered with friends and family at the firepit. There is plenty of room for yard games, gardens, playscapes and much more.

For the collector or hobbyist, there is a 28×40 workshop with three garage doors, one of which overlooks the pool. There is also a sunroom at the rear of the home that overlooks the pool.

Inside this home you will find three bedrooms and two and a half bathrooms in 2,317 square feet. The home has been tastefully updated since it was built in 1994. The updates include a true owners suite with updated bath and walk-in-closet with customized shelving.

This home is part of the Shiloh Farms neighborhood where just 5 homes sold in the last year. There are currently five listings in Shiloh Farms, which represents a full year supply. Current list price on 1300 Saddle Drive is $419,900.

If you are interested in scheduling a private tour of this home or any other listing in Shiloh Farms, call us at 803-831-8588. To view current listings and create custom searches, click here.