Lake Wylie Blog

Lake Wylie is about to get a new park which will service the entire community. The groundbreaking ceremony was held last Friday after a long process. This sports park dates back to a 2003-2004 land use plan and by next year will be an integral part of the Lake Wylie community.

Lake Wylie residents voted in 2016 to set up a tax district, which along with hospitality taxes will fund the build out of the $9.45 million site.

Located on a 50 acre parcel along Crowders Creek, the park will be adjacent to the Paddlers Cove subdivision on Field Day Lane.

The new as-yet unnamed park is slated to have many different sports fields to accommodate baseball, softball, soccer, football, and much more. According to the plan, there could be shelter buildings, a community center, and connections to the nature trails.

Families will have areas to have picnics, family reunions, or just a morning at the playground. For the sports enthusiasts and players, there will be tournaments, weekend games, and weekly practices. Summer camps are a distinct possibility as well as morning Tai-chi and fitness classes, boot-camps and more.

City Council has been working for many years to make this plan come to fruition, and they are glad that the project is now underway. Build out should take around a year so people of all ages should be able to enjoy the park next fall. As the area is still growing, city council is already working on plans for future parks to support this thriving community.

If you look at the entire Charlotte Region, you get a little bit different picture of the real estate market then if you look at just Lake Wylie. In the entire region, sales have dropped by 15.3% year over year. New listings were down 10.5% and pending sales were down 6.6%. They were down year over year and year-to-date though not as dramatically. The supply of homes is now at a 2.5 month supply, and these homes spent less time on the market before going under contract, just 36 days. The only thing going up were prices, up 5.2% from this time last year.

These numbers are from the monthly report by the Charlotte Regional Realtor Association and are based on the data from the Carolina Multiple Listing Services, Inc. President of the CRRA Jason Gentry said “Without a doubt, sales in September were affected by Hurricane Florence, as local Realtors and community volunteers mobilized to assist homeowners who were reeling from flood and wind damage. The impact of the storm, just off the heels of weakened summer sales, helped to depress sales locally.”

When you look at just Lake Wylie, the picture looks similar, though with a few important differences. Sales were dead even from this time last year with 106 homes sold in the month of September. This is encouraging as Lake Wylie did not see the same drop as the rest of the region.

Pending sales were down substantially as were new listings so we may follow closer with the entire region next month. There were 67 pending sales this September compared with 90 last September. This is a decline of 25.6% and could signal a severe drop in closed sales next month. New listings were down to 107 from last year’s 132, a drop of 18.9%. This at first appears grim, but year to date, pending sales are up 8.3% over last year and new listings are up 7.9%.

The supply of homes in Lake Wylie is down to a 4.2 month supply, down from last year with a 4.3 month supply. Homes have been staying on the market for an average of 55 days before accepting a contract, down from 60 days last year. This signals that there are still buyers out there and that they are acting quickly to purchase the homes that are for sale.

Sales prices are climbing, with the average sales price going up $2,261 from $390,908 last September to $393,169 this September. Year-to-date average sales price is up 4.5%.

Due to the smaller sample size for Lake Wylie compared to the Charlotte Region as a whole, sometimes numbers can appear skewed. It appears that Lake Wylie is following the wider trend that the market seems to be slowing. This could be due to the storm, rising interest rates, or a general cooling of the housing market. It is too early to make this call, though this is generally the time of year when the market cools.

 

If you are looking for a recently established neighborhood with grand homes near Lake Wylie, Montreux should be on your list. Built between 2009 and 2017, Montreux has old world estate homes, on large lots in close proximity to the lake lifestyle.

Montreux is located just off Youngblood Road near the Palisades on the North Carolina side of Lake Wylie. There is no direct access to the lake from the neighborhood, but there are public boat ramps and access points close by. There are many options for shopping, dining, and entertainment near to the neighborhood. A trip to Uptown Charlotte should take just over a half hour and a trip to Charlotte Douglas International Airport should take around a half hour.

Homes in Montreux are truly grand with the smallest home around 3,000 square feet and the largest at over 7,500 square feet. Many of these home include custom features such as bars, media rooms, gourmet kitchens, heated salt-water pools and much more. Most homes have a full bathroom for each bedroom. Homes have 4 or 5 bedrooms and from 3 full baths to 5 full baths and 4 half baths. Many homes have covered porches, some of them screened in.

Crown moulding, wainscotting, and trey ceilings are all common in homes in Montreux. In fact, these homes have many different design details and built-in features to please any homeowner. Expect three car garages, and lots of at least half an acre going up over a full acre. This leaves plenty of space for sports courts, pools, outdoor kitchens and much more.

In the past year, homes in Montreux have sold for between $440,000 and $900,000. There are currently two homes on the market representing a 4 month supply of inventory.

Children in Montreux are currently zoned for Palisades Park Elementary School, Southwest Middle School, and Olympic High School. Please verify school assignments as they can change from one school year to the next and zoning boundaries can cut through neighborhoods.