Lake Wylie Blog

July Market Report

August 12, 2020 by lkw_df Leave a Comment

The big story in the Charlotte area is once again lack of inventory. The Covid-19 crisis has affected all industries and real estate is no exception. We are now down to just 5,580 homes on the market, representing just a 1.3 month supply of homes. This is down 50% from the same time last year when we were lamenting inventory woes at just a 2.6 month supply of homes. A balanced market between buyers and sellers is typically considered to be a 4-6 month supply. This means that we are in a historic seller’s market meaning that sellers have been seeing multiple offers and they can expect to get top dollar for their homes. We have seen the average sales price creep ever higher to $344,991, up 10.6% from the same time last year.

These numbers are brought to you by the Canopy Realtor Association, which reports on real estate transactions throughout the Charlotte region with their Canopy Multiple Listing Service. According to their monthly report, closed sales were up 11.4%, pending sales were up 23.7% and new listings were up 4.1%. This shows that buyers and sellers are still in the market and are trying to take advantage of historically low interest rates for loans. We could start to see a rebound in the market over the next few months.

When you look at the numbers for Lake Wylie, you see that there are just 194 homes on the market, down from 465 last July. Homes are commanding a premium as the average sales price rose to $462,818 up 21.6% from last year at this time. Homes are selling above asking price as the average list price is $448,513. This means that you should expect to pay on average $14,305 more than list price on a home in the area. Pending sales in Lake Wylie are up 36.8%, but closed sales are down 2.5% and new listings are down 4.8%. Maybe people aren’t willing to give up the lake lifestyle during a pandemic.

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 on our website here.

Neighborhood Spotlight: Laurel Walk

August 8, 2020 by lkw_df Leave a Comment

Belmont has a gem of a neighborhood you should check out called Laurel Walk. This great spot is brought to you by Eastwood Homes and has some amazing features. First is the location, close to downtown Belmont, an easy 20 minute commute to Uptown Charlotte, and a short drive to Lake Wylie.

Secondly, you will love the craftsman-style homes set in a walkable community with front porches perfect for visiting with neighbors. And it’s not just the community that is walkable, you can walk to Belmont Town Center where you can get everything from groceries to take out food, to a haircut, to your morning coffee. Students can also walk to highly rated Belmont schools.

Laurel Walk offers both single family and townhome living options. These homes are new construction so you can help personalize and create the home of your dreams. All of the homes have open floor plans, large windows bringing in tons of natural light, and craftsman style attention to detail.

The single family homes start in the mid-$300,000’s and have at least 3 bedrooms and 2.5 bathrooms and all have 2 car garages. Square footage is typically around 2,600 and many of the homes have a guest suite on the main floor in addition to a luxury owner’s suite on the second floor. Yards are perfectly sized for less yard work so you have more time to yourself.

Townhomes start in the $260,000’s and have at 2-3 bedrooms and all have 1 car garages. Square footage for all units is right around 1,600. Highlights include a pet condo under the stairs in some units, quartz counters in the open kitchen, tankless hot water heaters, and again the craftsman style attention to detail.

Remember that you want representation for yourself if you are interested in new construction. The builder’s representatives work for the builder, not you as the buyer. If you would like to learn more about Laurel Walk or any other community in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings on our website here.

Pandemic Shifts

August 7, 2020 by lkw_df Leave a Comment

The Covid-19 pandemic has changed all facets of life as we knew it. Most of our children are no longer in physical school, and most of us are no longer physically going into our jobs. This dramatic shift may have some long lasting consequences. One of the major consequences could be a radical shift in commercial real estate.

Many offices have decided that with their workforce all working from home that they will not need a physical workplace anymore. This change means less overhead for the company, but can come with its own pitfalls if their workforce has to help manage their children’s online education at the same time they are trying to get work done.

Other offices are going to completely re-work how their offices function. They will turn more into meeting spaces with areas for working and collaboration. They can use their budgets that were previously held for business travel to make these changes without needing to take on additional debt.

Many companies are also looking to relocate their offices to places with less population density. This could mean shorter commute times for workers as businesses push out into the suburban areas. It could mean a radical shift in Uptown Charlotte.

It remains to be seen how many of the shifts that have been made due to the pandemic will remain in place once a vaccine is available and life returns to a new normal. Until that time, it will be interesting to see what creative solutions people come up with to make sure they can get everything done.

If you are interested in finding a home in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings on our website here.

Visit Bethelfields

July 31, 2020 by lkw_df Leave a Comment

If ever there was a time to take a closer look at a neighborhood, it’s now. While we are in the grips of this pandemic, people are spending more time dreaming about their perfect homes. We see the faults of our current homes and dream of a day when we can have a home free from those worries. This is a perfect time to revisit Bethelfields.

This beautiful neighborhood is located right on Lake Wylie. It offers all the benefits of small town living while being close enough to commute to the city. There is an amazing sense of community with amenities and events throughout the year for residents of all ages.

Amenities in Bethelfields include swimming pools, picnic tables, and walking trails. There is also storage for boats, trailers, and RV’s. And did we mention Lake Wylie?

Residents of Bethelfields enjoy lower South Carolina taxes and also pay no city taxes. With all of that value, they are still zoned for award winning Clover schools. This makes Bethelfields a great value for families with school aged children.

There are currently 6 homes on the market which represent six months of inventory. This means that there is currently a buyer’s market in the area which is rare during these pandemic times. For comparison, there is just 3.4 months of inventory for all of York County.

Homes sold for between $230,000 and $300,000 last year. Current listings range from $269,900 to $364,900 for 4 bedroom, 2.5 bathroom homes with around 2,300 to 3,000 square feet. Some of the homes even have 3 car garages.

If you are interested in learning more about Bethelfields or any other community in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings on our website here.

Coming Soon: Pringle Townes

July 31, 2020 by lkw_df Leave a Comment

Due to the historic situation right now, there are some opportunities that are around that would not have existed at any other time. Interest rates are at historic lows so people who may not have been able to afford a home before are finding themselves in a position to purchase a first home. Many other people are in position to downsize from a larger home and want a home that has little to no maintenance. Pringle Townes by Pulte Homes in Southwest Charlotte can be the answer to both of these desires.

Location is one of the best features for Pringle Townes. It is convenient to many employers, Charlotte Douglas International Airport, and is just 25 minutes from Uptown Charlotte. Also nearby you’ll find multiple options for shopping and dining with Charlotte Outlet Mall nearby. You’ll find nearby grocery stores as well as the farmer’s market offering the freshest produce. You will be close to Topgolf and Carowinds, both options for great entertainment. And don’t forget you are just minutes from Lake Wylie, perfect for nature hikes and watersports of all kinds.

Highway access is nearby to connect you to all parts of Charlotte. You can connect to I-485 via Shopton Road or Brown Grier Road/Arrowood Road. This Steele Creek area is booming with growth and has many options for homes perfect for young professionals, and families alike.

Homes will have open concept floorplans with large open kitchens and spacious owner’s suites. Abundant light will come in through large windows.

Home prices will start in the $200,000’s and there will be virtual tours and online tours available so you can tour from your computer or smart phone. If you are interested in learning more about this community or any other community in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings on our website here.

Explore Emerald Point

July 23, 2020 by lkw_df Leave a Comment

If you are looking for a waterfront condo on Lake Wylie with little to no maintenance, look no further than Emerald Point. This amazing spot sits on one of the best views on the lake. These stunning views come in one of the lake’s largest condominium communities. The area has beautiful landscaping, community boat docks, swimming pool, club house, pier, and tennis courts.

Emerald Point is in the perfect location, just five minutes from I-485. This means that you can quickly get to Uptown Charlotte, Charlotte Douglas International Airport or any other part of the city with ease. There are many nearby just off Shopton Road. You will find grocery stores, restaurants, and plenty of shopping at and around Charlotte Premium Outlets.

Homes in Emerald Point are typically 2-3 bedrooms with 2-3 bathrooms. Many of the homes have been renovated to include high end features such as granite counters, hardwood flooring, custom closets and more. To take advantage of the views of the lake, homes have outdoor living spaces for gathering, eating, or just sitting and reading a book.

In the past year, 14 homes sold in Emerald Point and most of them sold in less than a month. They are very popular so you have to act fast when one comes on the market. There are currently three homes for sale, but they are all already under contract. Homes typically sell for between $185,000 to $359,000. Prices vary depending on if they have a waterfront view, deeded boat slip, and size and number of bedrooms and bathrooms.

If you are interested in a home in Emerald Point or another neighborhood in the Lake Wylie area, give us a call at 803-831-8588. You can create custom searches of current listings on our website here.

Keep An Eye Out For Trinity Townes

July 23, 2020 by lkw_df Leave a Comment

Coming August 10th, there will be a new townhome development in Tega Cay brought to you by Ryan Homes. Named Trinity Townes, homes will start in the $280,000’s to the $350,000’s. Homes will be part of the highly desirable Fort Mill School District and will have lower South Carolina property taxes.

Homes in Trinity Townes will be three story townhomes with up to 2,300 square feet of living space, and two car garages. There are options which include a first floor bedroom, covered porch, and outdoor fireplace. Kitchens are large and open to living rooms making the space feel even more grand. Bedrooms are generous with ample closet space.

One of the best parts of Trinity Townes is proximity to Lake Wylie and Baxter Village. This means that you have shopping, dining, and recreation all within a few minutes. There are public access points nearby for boat launching at Nivens Creek Landing which is less than a mile away. There is easy access to I-77 for a morning commute as well.

Homes are not yet on the market, but are expected to be available starting August 10th. If you are interested in learning more about the process of buying a new construction home, give us a call, we work for you, but the seller will pay our costs. We can help you make sure you are getting the best deal and the most options and upgrades for your money.

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 create custom searches of current listings on our website here.

Featured Listing: 9 Sandy Cove Road

July 14, 2020 by lkw_df Leave a Comment

Towards the end of Southpoint peninsula, you’ll find one of the best views of Lake Wylie and it can be all yours. Our new listing at 9 Sandy Cove Road is a true gem at the end of a cul-de-sac street in coveted River Hills. This home has the perfect vantage point for watching sunsets and sunrises from the very private, tucked away property.

This home features 210 feet of unobstructed, main channel views on a peninsula shaped lot. You can enjoy them from the enclosed screen porch, or from the open patio or from most of the rooms which have water views. This full brick home was built in 1978, but has been updated and feels light and open. Outside you will find new landscaping, an all new dock with lift and boat cover, and a shared beach area. There is a 2 car garage with a workshop and lots of storage. The driveway is large and can fit at least 10 cars, perfect for entertaining.

Inside you will find this home has been meticulously maintained and well cared for. There are two fireplaces, an open renovated kitchen with bar area. All bathrooms have been recently renovated as well as the mud/laundry room. There are four bedrooms and three and a half bathrooms in the home and all have lots of storage space and additional storage in the floored attic. You will enjoy all of the 4,030 square feet of this amazing home.

This home is located in the gated, country club community of River Hills. This amazing community features a business center, club house, dog park, fitness center, golf course, outdoor pool, playground, pond, recreation area, tennis courts and walking trails. There is private security in addition to sidewalks and street lights. The home is currently zoned for award winning Clover schools.

If you are interested in learning more about this gem of a home, give us a call at 803-831-8588. To view the full listing, click here. To view all current listings and create custom searches, visit our website here.