June Market Report

Home prices are still on the rise in the Charlotte area. This is in contrast with the rest of the nation where there has been a cool down in prices. This information was published by Case-Shiller from their S&P CoreLogic Report. It’s hard to know how long prices can go up, but they don’t appear to be stopping yet. This can be a boon to sellers, but can spell trouble for buyers who can get priced out of the market.

The Carolina Regional Realtor Association published numbers for June based on data from the Multiple Listing Services, Inc. Based on their data, average sales prices in the Charlotte region were up 7.1% year over year from $302,011 to $323,316. When you look at year to date number, they are also up 4.3% from $287,358 up to $299,703.

The Charlotte region also had a dip in sales, decline in inventory, and a slight decline in new listings. Pending listings were up 16.3% so there is hope that there will be strong sales numbers next month as many of the pending listings head to the closing table.

When you look at the numbers for Lake Wylie, average sales prices were up 3.9% from $382,553 to $397,428. Pending sales and new listings were both up, 25.9% and 14.5% respectively. This indicates that Lake Wylie sales are still strong despite lower inventory, down to just a 3.5 month supply.

Closed sales for homes in Lake Wylie were just about level with last year at the same time. Homes are selling more quickly than last year at this time. In June of 2018, homes were on the market for an average of 113 days from listing to closing. In June of 2019, homes were on the market for an average of 108 days from listing to closing, a decline of 4.4%. These homes spend an average of 58 days on the market before they were under contract.

If you are in the market to buy or sell a home in the Lake Wylie area, give us a call at 803-831-8588. If you would like to view current listings and create custom searches, click here.

Neighborhood Spotlight: Patriots Crossing

Patriots Crossing is a tiny little spot that should loom large on your radar. Just three streets comprise this neighborhood, but they are full of amazing homes that rarely come on the market.

Homes in Patriots Crossing have large estate sized lots with each lot coming in at or over 1 acre. Homes were built in the early 2000’s and many of them show as brand new. They have large floor plans with plenty of storage as well as flex spaces, home offices, gourmet kitchens, and outdoor living areas.

Another major draw for the neighborhood is the public schools. Homes in Patriots Crossing are currently zoned for highly desirable and award winning Clover Schools. This coupled with lower South Carolina taxes make this a great location for families.

Patriots Crossing is located just north on Highway 274 from Highway 49. This great spot is close to Daniel Stowe Botanical Gardens as well as great spots for shopping and dining. Public boat ramps are close by so you can enjoy the full Lake lifestyle as well. A trip to Uptown Charlotte is a breeze as is one to Charlotte Douglas International Airport.

Just one home sold in the last year in Patriots Crossing. It was only on the market for less than 60 days before going under contract. That home has 4 bedrooms, 4 full bathrooms, and over 3,000 square feet of living space. This stunning home has the flexibility to have either a first floor office, or guest suite with full bathroom, and sold for $365,000.

If you are interested in a home in Patriots Crossing or any other Lake Wylie neighborhood, give us a call at 803-831-8588. You can create custom searches and view current listings on our website here.

Explore Harpers Mill

If you are interested in a townhome in the Lake Wylie area, Harpers Mill is a great place to explore. There are great amenities, lake proximity, nearby options for shopping, dining, and entertainment. All of this within commuting distance to Uptown Charlotte, yet with lower South Carolina taxes and extraordinary Clover schools. No wonder these homes don’t stay on the market long.

Located right off Highway 49, Harpers Mill is just a few minutes away from the Buster Boyd Bridge. This great location is just down the road from public boat ramps for access to the Lake. Residents can walk to shopping and dining options and are also close to River Hills Country Club.

From Harpers Mill, a trip to Uptown Charlotte is just over 20 miles. A trip to Charlotte Douglas International Airport is just over 17 miles. Fort Mill, SC is just over 12 miles, and McDowell Nature Preserve is just across the bridge.

Homes in Harpers Mill come in groupings of four and six homes. End units typically command a premium as they only have one shared wall. Homes have 2-3 bedrooms and 2-2.5 bathrooms and around 1100 to 2000 square feet of living space.

In the past year, 17 homes sold in Harpers Mill with prices ranging from $135,000 to $215,000. This affordable price point is perfect for a starter home or for downsizing from a larger home. There are currently 6 homes for sale in Harpers Mill ranging in price from $147,000 to $219,900.

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

Neighborhood Spotlight: Sunset Ridge

Rarely does a home in Sunset Ridge come on the market. These homes are truly remarkable and they don’t stay on the market long. They are located right along Lake Wylie Road near Highway 49 in close proximity to shopping, dining, and entertainment. Public boat ramps are just a few miles away. Children attend highly rated Clover Schools and parents pay lower South Carolina taxes.

Homes in Sunset Ridge are custom made and sit on large lots, some approaching two acres. This gives plenty of space for outdoor living including outdoor kitchens, sports courts, pools, firepits, lawn games and much more. Homes are grand in scale with most well over 3,000 square feet of living area. This means plenty of storage, great custom features, and flex spaces sure to please any family.

These homes are right around the corner from the new construction community called The Retreat at Sunset Ridge which is in close-out mode. There is currently only one new construction home left on the market.

In the last year, just two homes sold in Sunset Ridge. They had between 3 and 4 bedrooms and each had 3.5 bathrooms. Both had well over 3,000 square feet of living space and three car garages. One home sold for full list price at $565,000, the other home sold for 99% of the list price of $495,000.

If you are interested in learning more about Sunset Ridge or any other Lake Wylie community, give us a call at 803-831-8588. You can view all current listings and create custom searches on our website here.

Neighborhood Spotlight: Kings Grove Manor

If you are looking for your next family home, look no further than Kings Grove Manor. This great neighborhood is located near Lake Wylie and McDowell Nature Preserve and has both existing homes and new construction homes available. There are great neighborhood amenities including pool, cabana, and community walking trails. It takes no time to get to Uptown Charlotte, and has low South Carolina taxes and desirable Clover schools.

Builder Mattamy Homes is still offering new construction homes in Kings Grove Manor featuring one and two-story designs. These homes start in the mid-$200’s and have 1,700 to 2,700 square feet with 3-5 bedrooms and 2-3.5 bathrooms. Seven floor plans are available with the ability to customize and personalize these homes to fit your family.

Existing homes in the neighborhood were built in the past few years so they show like new. They have similar features to the new construction homes, but may be just right for you since they are ready to move in. All homes have easy to maintain small lots with two car garages.

There are currently 7 homes for sale in Kings Grove Manor, with three resales and four new construction. This represents just 3 months of inventory, compared to the 6.7 months supply for the whole of Lake Wylie.

If you are interested in touring homes in Kings Grove Manor, give us a call at 803-831-8588. You can view current listings on our website here and also create custom searches to help find your perfect next home.

Explore Forest Oaks

If you’re looking for a great family friendly neighborhood near Lake Wylie, South Carolina, look no further than Forest Oaks. This great spot is adjacent to River Hills Country Club and just steps away from the shore. Right down the road is the Buster Boyd Bridge with many shopping and dining options, some even within walking distance. About 5 minutes down the road is public boat access so you can take advantage of the full Lake lifestyle. This location is also perfect for anyone with an Uptown Charlotte commute.

Homes in Forest Oaks were built between 1989 and 2009, with most of the homes built in the early 2000’s. Homes range in size from 1,100 to 2,300 square feet. That makes them the perfect starter size for a small family or for downsizing from a larger home. Homes have 3 to 4 bedrooms and 2 to 3 bathrooms. Yards are small and easy to care for, and exteriors are low maintenance.

In the past year, 22 homes sold in Forest Oaks. This is a great neighborhood to watch closely as there are currently six homes on the market. Prices typically range from $155,000 to $231,000 so these homes are much less expensive than many other areas of Lake Wylie. There is currently a 3.4 month supply of inventory which is compared to a 6.4 month supply in the whole of Lake Wylie. This means that Forest Oaks is currently in a seller’s market.

If you would like a private tour of homes in Forest Oaks, call us at 803-831-8588. You can view current listings on our website here and also create custom searches to help find your perfect next home.

Proposals for Extension of Light Rail

County leaders for York County recently met to consider proposals for extension of the Lynx light rail system in Charlotte. They heard four small area plan proposals with one potentially serving the Lake Wylie area. This could be great for bringing in commuters and reducing traffic. It could also bring a lot of day-trippers for weekend fun on the lake.

The light rail plan proposals are a way to look at the area in a different way. This means that leaders have to look at how the light rail may affect properties in the proposed path, look at supporting infrastructure, and look at opportunities for how development patterns may change. There is also a potential that the light rail could head to Rock Hill as well which could be a place to park and ride until a Lake Wylie corridor comes to fruition. The Rock Hill connection is especially likely as the Charlotte Panthers just announced that they are building a training facility there.

There are many more steps to take after the proposals are laid out. There are traffic studies, land acquisition, and much more. There will be interstate cooperation by North and South Carolina. There will be funding hurdles and bureaucratic hurdles to be cleared, but it is an exciting prospect for many people.

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

To read more about these proposals, visit the Herald Online here.

Take a Closer Look: Tioga Pointe

Homes in Tioga Pointe don’t come up for sale often so you have to be ready when one comes on the market. These amazing homes are grand in scale and reside on large lots right on the shores of Lake Wylie, South Carolina. This means lower South Carolina taxes, highly sought after Clover schools, and great proximity to Uptown Charlotte.

Tioga Pointe is located just off of Lake Wylie Road close to the junction with Highway 49. This gives residents great access to highways leading to shopping, dining, and entertainment. It also means a quick trip to Charlotte Douglas International Airport, or a straightforward commute to Uptown Charlotte.

In the past year, just three homes sold in Tioga Pointe ranging from $460,000 to $628,000. These homes sit on lots of at least an acre in size and range from 3,050 to 3,849 square feet. Three or four bedrooms are the most common with 2.5 to 5 full bathrooms. Many of these homes were custom built and have all of the features you could ask for. Some have gourmet kitchens, home offices, second living quarters, in-ground salt water pools, and much more. There is no HOA for the neighborhood.

There is currently only one home on the market in Tioga Pointe. If you would like to schedule a private tour of that home, give us a call at 803-831-8588. You can view all current listings and create custom searches on our website here.

Neighborhood Spotlight: The Coves on River Oaks

Just two miles North of the Buster Boyd Bridge sits the beautiful neighborhood of The Coves on River Oaks. This fabulous location is home to 160 homes situated within the 250-acre planned development. There is great proximity to the lake with many homes having water views and some with water frontage. There are many options nearby for shopping, dining, and entertainment as well as public boat ramps for water access.

May Green Properties was the developer on The Coves on River Oaks, though homes were built by a variety of custom home builders. This helps each home to feel unique through design, features, building materials, and style. Lots are large, all are over one acre and many over two acres. The large lots accommodate grand homes with most homes in the 3,800-4,900 square foot range.

Homes in The Coves on River Oaks typically have between 4 and 5 bedrooms and 3.5-4.5 bathrooms. Many of these homes have home offices, media rooms, bonus rooms, flex spaces, gourmet kitchens, butlers pantries, and outdoor living spaces including many with private pools.

There are currently 4 homes for sale in The Coves on River Oaks and all are currently under contract. These homes are highly desirable and go under contract quickly. Price ranges for these listings is from $545,000 to $925,000 with the premium price going to a waterfront property. In the past year homes sold for between $515,000 and $679,000 though none was a waterfront listing.

Desirable schools are another draw to The Coves on River Oaks as current zoning is for award winning Clover Schools. Residents also enjoy lower South Carolina taxes. All this and more within commuting distance to Rock Hill, Fort Mill, Gastonia, or Uptown Charlotte.

If you are interested in learning more about The Coves on River Oaks, give us a call at 803-831-8588. You can create custom searches and view current listings on our website here.

To read more about The Coves on River Oaks, click here.

Take a Closer Look: Masons Crossing

Right on the waterfront of Lake Wylie you will find a wonderful community of Masons Crossing. This spot is great as highway access is just 15 miles away. This means that you get a waterfront retreat within commuting distance to Uptown Charlotte. There are also great options nearby for shopping, dining, and entertainment. Also convenient are Carowinds, Fort Mill, Rock Hill, and Charlotte Douglas International Airport.

Homes in Masons Crossing are grand in scale and have estate sized lots. These custom homes are stunning and have amazing features making each home unique. Waterfront lots command a premium, but are worth every penny with amazing year round views in addition to boat houses, floating docks, stunning decks and porches to capture the lake lifestyle.

Masons Crossing is currently zoned for award winning and desirable Clover schools. Residents get all of this and lower South Carolina taxes. In the past year, homes in Masons Crossing sold for between $442,000 and $1,275,000. Homes typically have between 2,500 and 7,300 square feet of living space.

With five homes currently on the market, Masons Crossing currently has a 15 month supply of homes. This is compared to the 6.4 month supply for the whole of Lake Wylie and the 4.8 month supply in York County. This means that Masons Crossing is in a buyers market at the moment.

To view additional information about Masons Crossing, click here. To schedule a private tour of homes in Masons Crossing, call us at 803-831-8588. To view all current listings and create custom searches, visit our website here.