Lake Wylie Blog

June Market Report – Greater Lake Wylie Area

July 18, 2022 by lkw_df Leave a Comment

The real estate market appears to be headed for a slight correction. According to the monthly data from the Canopy Realtor Association, the supply of homes in the Charlotte Region was up slightly in June, the first time in many months. This signals that the market may be slowing down from the furious pace it has sustained for the last few years. The supply of homes rose from 4,732 last June, to 5,334 this June, an increase of 602 homes or 12.7%.

Closed sales were also down year over year, with a decrease of 13.6%. New listings were up 4.1% year over year. These factors together signal that homes are spending longer on the market, and more people are listing their homes. Prices have yet to fall in accordance with the increased supply, we will have to wait to see if there is a corresponding price correction.

When you look at the numbers for Lake Wylie, you see a much smaller rise in inventory, just two homes more this year than last. It is not unusual for trends in smaller areas not to match the overall trend due to the small sample size. New listings, pending sales, and closings were all down year over year, 8%, 26.6%, and 26.9% respectively. Homes are still going under contract quickly, with the average of 16 days from list to contract.

Prices in the greater Lake Wylie area are still on the rise, with the average sales price coming in at $698,709 in June. This is up 36.1% from $513,455 last June. Sellers can also expect to get at or above list price with the average home selling for 102.3% of list price. This means that the market is still favoring sellers and will continue to do so until the supply of homes reaches a 4-6 month supply when the market is considered to be balanced between buyers and sellers. This shows that higher interest rates have not slowed buyers in our area yet.

If you want to know more about any home in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Boshamer Estates Clover/Lake Wylie

July 17, 2022 by lkw_df Leave a Comment

Maybe you are the type of person who wants a lake to enjoy, but you don’t want to share it with many other people. If this sounds like you, check out Boshamer Estates in Clover. These homes share a 6 acre fully stocked lake perfect for an afternoon of fishing, bird watching, or just floating on an intertube.

Boshamer Estates is located on the west side of Clover, off of State Highway 55 just a few minutes from town. Residents are close to shopping, dining, and community events. It takes approximately 45 minutes from Charlotte Douglas International Airport and about 50 minutes from Uptown Charlotte. A 20 minutes trip will have you at Lake Wylie for motorized water sports.

Homes in Boshamer Estates vary greatly as they were built between the 1970’s and 2016. Properties are between 3 and 7+ acres in size so many of the homes have multiple outbuildings perfect for workshops, boat and RV storage, garages, stables, barns, and guest quarters. The homes range in size from 1,300 square feet to 4,500 square feet in size. Some of the homes have amazing outdoor living spaces including pools and outdoor kitchens.

In the last year, only two homes changed owners in Boshamer Estates. The first was a 4 bedroom, 3 bath home with 1,939 square feet built in 2016. It sits on a 5.5 acre lot backing to the stocked pond and sold for $730,000. The other home was a 4 bedroom, 3 bath home with 4,592 square feet, built in 1992. It sits on a 3.37 acre lot and also backs to the stocked pond and sold for $710,000. There are currently no homes for sale in Boshamer Estates.

If you want to know more about Boshamer Estates so you can be the first to know when a home is listed for sale, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Lakepoint Lake Wylie

July 5, 2022 by lkw_df Leave a Comment

Tucked away just down the road from Daniel Stowe Botanical Garden, you’ll find Lakepoint. This great neighborhood is on the banks of Lake Wylie, but has a Belmont address so feeds to award winning and highly desirable Belmont schools.

Lakepoint is located just minutes from highway access to I-85 taking residents quickly to Charlotte Douglas International Airport, or into Uptown Charlotte. There are many options nearby for shopping, dining, and entertainment. Downtown Belmont is also close by for community events, shopping, and dining. But make no mistake, you won’t feel like you are close to everything. You feel like you are on a vacation, with amazing homes and the lake as your backyard.

Homes in Lakepoint were built between 2010 and 2021 so they look brand new. They have all of the features that today’s buyers love like large open kitchens, home offices, dual primary suites and much more. Sizes range between 2,500 to over 4,000 square feet with between 3 and 6 bedrooms, and 2.5-5 full bathrooms.

In the past year, just two homes sold in Lakepoint for $700,000 and $795,000. There is currently one home for sale in the neighborhood with almost 3,500 square feet of living space, 4 bedrooms and 3.5 bathrooms listed for $739,900.

If you want to know more about Lakepoint so you can be the first to know when a home is listed for sale, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Elizabeth Coming to Fort Mill

July 5, 2022 by lkw_df Leave a Comment

Maybe you don’t want to be right on Lake Wylie, but you want to be close enough to drop by whenever you’d like. If that is you, then the new master planned community of Elizabeth in Fort Mill might be right for you. With great amenities and easy access to shopping, dining, and recreation, this community is great for all types of families.

Lennar Homes is developing this project and there are currently two phases that are for sale with an additional phase coming soon. Construction is underway, but there are opportunities to customize one of these amazing homes to meet the needs of your family. Additional phases will be underway in the coming months.

Amenities for Elizabeth are set to include a clubhouse, pool, fitness center, walking trails, and playground. The community is zoned for highly rated Fort Mill, SC schools, but has lower South Carolina taxes. Nearby outdoor recreation is found at Lake Wylie, and Anne Springs Close Greenway.

The first community is Trinity. These are three story townhomes with detached garages. Homes have over 2,000 square feet, two bedrooms, and two and a half bathrooms. 24 homesites are currently under construction with prices expected in the low $400,000’s.

The second community already underway is Chase. Also a townhome community, Chase features larger homes with first floor primary suites. These homes range from 1,800 to 2,300 square feet of living space in two story plans with detached one car garages. 24 homesites are currently underway and prices are expected in the high $300,000’s to the low $400,000’s.

Coming soon will be the first phase of single-family homes in Elizabeth. 207 homesites in a community called Enclave are expected soon. Details on these homes are coming soon, but are expected to be spacious and start in the low $500,000’s.

If you want to know more about this upcoming project, and how to get in before prices inevitably go up, or you want to schedule a showing on a home in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: The Vineyards at Lake Wylie

June 28, 2022 by lkw_df Leave a Comment

Located 20 minutes from Uptown Charlotte, The Vineyards on Lake Wylie seem like a vacation destination. Resort style amenities and a premier community make this neighborhood top notch. Come enjoy the lake lifestyle with an existing construction home, or with a new construction home.

The Vineyards on Lake Wylie began in 2008 and there are still new construction homes being completed in the neighborhood. There are single-family homes as well as townhomes so there are options for many different sizes of families. Homes have between 3 and 6 bedrooms and 2.5-5 bathrooms with between 1,700 and 4,000+ square feet of living space.

Neighborhood amenities in The Vineyards on Lake Wylie include a cabana, clubhouse with fitness area, dog park with two areas for larger and smaller dogs, two outdoor pools (one geared towards kids and kids at heart, and one geared for lap swimming), secured playground, sidewalks, street lights, tennis courts, and groomed walking trails. There are also pickleball courts, bocce courts, canoe and kayak dock, community boat docks, a deep water boat launch, and a parking area for cars and boat trailers. At the lakeside, there are decks, picnic areas, and a boardwalk along the mile of waterfront. Homeowners Association fees are low, and residents are close to all of the shopping, dining, and entertainment you need.

In the last year, 43 homes changed owners in The Vineyards on Lake Wylie. They ranged from a townhome for just over $300,000 to a 5 bedroom executive home for $730,000. There are currently 18 homes offered for sale ranging from a townhome for around $350,000 to a 4,000+ square foot estate home for just over $1,250,000. All except for three of these homes are already under contract, so if you want to get in this community you need to act quickly.

If you want to know more about The Vineyards on Lake Wylie or to schedule a showing on one of these amazing homes, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Allison Creek Estates Lake Wylie

June 27, 2022 by lkw_df Leave a Comment

If you are looking for a perfect waterfront home with a large lot for plenty of privacy, look no further than Allison Creek Estates. These amazing homes don’t come on the market very often, but when they do, they are true showpieces that won’t last long.

Allison Creek Estates is located on a private peninsula right off Hands Mill Highway on the South Carolina side of Lake Wylie with a view of the main channel all the way across to Goat Island and across to Tega Cay. This great location makes you feel like you are living in a vacation paradise, but you are still close to everything you need. The neighborhood is zoned for award winning Clover Schools, making it even more desirable.

Homes in Allison Creek Estates range from simple single-family homes with lots of potential, to elaborate estates with over 13,000 square feet designed for entertaining. These amazing homes don’t come on the market very often, in fact since the MLS has been keeping data, just three homes have sold, though one of the three changed owners twice.

There is currently one home listed for sale in Allison Creek Estates and it is a stunner. It has 7,000 finished square feet and 6,000 partially finished square feet so it is perfect for your extended family gathering. It sits on a private 3.5 acre lot with an oversized three car garage, a detached 1,678 square foot workshop and over 240 feet of frontage on the lake.

If you want to know more about Allison Creek Estates or any other neighborhood in the Lake Wylie Area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Carolina Thread Trail Expanding

June 27, 2022 by lkw_df Leave a Comment

For all of you outdoors enthusiasts, the Carolina Thread Trail is about to expand. The governing board announced 16 new partner grant recipients including the Abbey Creek Greenway in Belmont, and the Jack White Trail in Rock Hill. The expansions total $752,500 which will provide infrastructure for expanding trails throughout the region.

The Abbey Creek Greenway is located near Wilkinson Boulevard and will ultimately connect the Catawba River to Loftin Park. The Carolina Thread Trail approved $30,000 for the purpose of acquisition of land for the construction of the greenway trail.

The Jack White Trail is located along Dave Lyle Boulevard in Rock Hill. It will connect the Manchester Creek Trail from downtown Rock Hill to the Catawba River. $30,000 was approved to design the extension.

In addition, there will be more extensions built by Catawba Lands Conservancy, Cramerton’s Rocky Branch Trail, and more in surrounding counties. In all, there are currently 350 miles of greenways and trails, and 170 miles of blueways already open to the public, with many more in the plan. There are many access points so you can enjoy exercising in nature from lots of locations near Lake Wylie.

If you want to know more about any of these upcoming projects or want to schedule a showing on a home in the Lake Wylie area, call us at 803-831-8588. We can help you with anything you need to buy or sell a home. You can view current listings and create custom searches on our website here.

May Market Report – Greater Lake Wylie Area

June 24, 2022 by lkw_df Leave a Comment

Canopy Realtor Association has released the monthly numbers from the Canopy Multiple Listing Service. According to the report, the big story is that sales are down, and pending sales are also down for the Charlotte Region. This means lower sales volume this month and the expectation of lower sales volume next month as fewer sales are expected to close. This signals a cool down of the market, largely driven by rising interest rates for loans and higher prices for homes.

Inventory of homes is still below one month of supply, and we are seeing more homes sell above list price than in the past few months with the average sale commanding 102.9% of list price. This means that we have not seen the recovery in the market we expected, but new listings were up 4.4% as some sellers are worried they will miss out on the action of the current market.

When you look at just the numbers for the Greater Lake Wylie area, you see that sales are down 21%, pending sales are down 21.7%, and new listings have not had the resurgence of the Charlotte area as a whole as they are down 11.7%. Please keep in mind that the small sample size can make the data seem extreme.

Prices are still on the rise in Lake Wylie with the average sale price up to $600,717 in May. This is up 15.9% from May of 2021. Homes are selling for an average of 102.4% of list price and are going under contract in about 17 days on average with closing in 109 days after listing on average.

What does that mean for you as a buyer or a seller? As a buyer, it means that homes are out there, but you might need to wait until the perfect home is listed which could mean that you will have a higher interest rate as the Federal Reserve keeps raising the benchmark rate. As a seller, it means that there could be lots of buyers for your home, but as interest rates rise, your home might be on the market for a longer time before a sale.

If you want to know more about the market conditions in Lake Wylie, call us at 803-831-8588. You can view current listings and create custom searches on our website here.