May Market Report

This month, though the supply of homes on the market has declined in the Charlotte region, there are many other market indicators that have increased. Closed sales, pending sales, and new listings were all up, .5%, 17.3%, and 2.8% respectively. Prices are also up over last year, with the average sales price up 3.4% from $299,723 to $309,859. The total inventory for the region is down 10.1% from 10,506 to 9,443. This means that buyers are competing for just 2.3 months of inventory giving sellers more of the power in transactions. (A balanced market between buyers and sellers is generally a 4-6 month supply of homes.)

When you look at just Lake Wylie, the numbers are a little bit different, however you need to know that the numbers could look skewed due to the small sample size. For instance, the average sales price was down 1.8% year over year, but that could be due to just one waterfront home as they typically command a premium.

Closed sales were up 18.8% over last year, from 112 to 133, a difference of 21 additional sales. New listings were up 2.6%, and pending sales were up a whopping 42.5% from 113 to 161. This is a great indicator that the market is still strong as many of these pending homes will head to the closing table to boost next months closed sales number.

Homes are selling quicker than last year as well with the days from listing to closing down to 103 from 121, a decline of 14.9%. Homes are on the market for an average of 60 days until sale, down from 65 days last May.

These trends are showing no end in sight yet for the current lack of supply and price increases. All of these trends are taken from the monthly report published by the Carolina Regional Realtor Association. The numbers are from the Multiple Listing Services, Inc.

If you are looking to buy or sell 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.

Neighborhood Spotlight: Mariners Watch Cove

If you’ve had your eye on the exclusive community of Mariners Watch Cove in York, SC, you’re not alone. This popular spot is part of the Allison Creek Peninsula on the shores of Lake Wylie and is truly stunning. With million dollar views, large lots, majestic trees, and stellar homes, you won’t believe you are just 45 minutes from Uptown Charlotte.

To get to Mariners Watch Cove, you have to enter from Hands Mill Highway/Highway 274. Once on the peninsula you feel your cares disappear as you enjoy the splendor of Lake Wylie between Big and Little Allison Creeks. Waterfront homes enjoy year round views of the Lake, while inland homes may have seasonal views.

Though it feels like a retreat, Mariners Watch Cove is only 20 minutes away from York and Clover, South Carolina. 30 minutes away you will find Rock Hill, South Carolina, and 45 minutes will get you to Charlotte Douglas International Airport. Residents are currently zoned for award winning and highly desirable Clover Schools, and also enjoy lower South Carolina taxes.

Homes in Mariners Watch Cove are luxurious and custom built. Most homes have well over 3,000 square feet and some include second living quarters, fully finished basements, guest houses, elevators, wine cellars, boat houses and much more.

It is rare to see one of these homes come on the market, in fact three homes sold in 2017, and two are currently on the market. Waterfront lots command a premium and typically sell for well over $1 million. Interior lots are fantastic as well, though they only have lake access from the public boat ramps the nearest of which is Allison Creek Public on Viesta Road. Interior homes typically sell in the $300,000’s to the $500,000’s.

To schedule a private tour of the two current listings in this amazing neighborhood, call us at 803-831-8588. To view current listings and create custom searches, click here.

Featured Listing: 13525 Grand Palisades Parkway

Rarely does a unique opportunity come up in The Palisades. This one of a kind custom home by Kingswood Homes is in an exclusive gated enclave containing just 7 homes. The location is perfect and is walking distance to amenities. Neighborhood amenities include a clubhouse, golf course, equestrian facilities, pool, fitness center, tennis courts, recreation area, walking trails, and playground.

This home is truly custom and built by one of the finest builders in Charlotte. To see more of their projects and to check out their reputation, visit them at kingswoodhomes.com. This home is consistent with their attention to detail and unrivaled quality.

Coming through the gates, you will first see the paver driveway and side entry garage. The flagstone front porch will lead you into the home where you will be enchanted by the gleaming hardwood floors and high ceilings. The home is open from back to front and the high ceilings are accented by a detailed coffered ceiling in the living room. You’ll love the chef’s kitchen with large island and custom cabinetry. Entertaining is a breeze in the huge outdoor living area complete with fireplace and built-in grill. This home shows like new.

Throughout the 4,297 square feet of this home, there is a space for every member of your family. There are 4 bedrooms and 4.5 bathrooms with the bonus room counting as one of the bedrooms. Each room has ample storage and abundant natural light.

To schedule a private tour of this amazing home, call us at 803-831-8588. To see the full listing for this property, click here. To view additional listings and create custom searches, click here.

Census Data Is In, Here’s What It Means

The U.S. Census Bureau data is in. They calculated population estimates between July 2017 and 2018. The data shows that the Charlotte metro area grew by 13,151 residents, representing a rise of 1.5% for a total of 872,498 residents. This puts Charlotte at #5 in the nation for growth when you look at cities with at least 50,000 residents.

When you widen out to look at the suburbs around Charlotte, there has been an even greater change to some areas, and three of the top growth areas are around Lake Wylie. Lake Wylie in York County was not included in the Census numbers as it is unincorporated, but based on new construction in the area and low housing inventory, has had tremendous growth as well.

When you compare growth from the new Census numbers to the previous Census completed in 2010, you see that Many of the areas near the Lake have gained a tremendous number of new residents. Tega Cay in York County has added 3,082 residents in that time for a 39.6% increase to 10,863 residents. Clover, also in York County has added 1,282 residents for a 25% increase to 6,397 residents. Belmont, which Apartment Therapy just named one of the Coolest Suburbs in America, had a 22.2% increase totaling 12,495 residents, an increase of 2,272 residents.

All of this growth is a good thing as it means that the Charlotte area is vibrant and attractive. What it can mean for someone moving here for the first time is that they need a good Realtor to help them find a home in the area just right for them and their family. That’s where we can help. We can show you homes around the Lake Wylie area and can help you get settled into a new life here.

To schedule a tour of housing options in the Lake Wylie area, give us a call at 803-831-8588. Be sure to visit our search page where you can view current listings and create custom searches.

To read more about the Census numbers, see The Charlotte Business Journal article.

Take A Closer Look: The Glades at Windswept Cove

Right along Big Allison Creek, one of the most coveted spots on Lake Wylie, sits the waterfront community of Windswept Cove. Connected to Windswept Cove, accessed from Concord Road are The Glades at Windswept Cove. With over 224 acres, this South Carolina community boasts just over 100 homesites with large lots, great homes and the highly desirable Clover School District.

Homes in The Glades at Windswept Cove sit perched a fabulous spot, with winding lanes, rolling hills, and a magnificent view of the Lake. Lots average 1.6 acres, though some lots are 2 acres or more. Waterfront homes command a premium, but have piers and boat docks. Interior lots have great views as well as tree lined lots and privacy. The natural beauty of the area is protected by environmental covenants which limit the mass clearing of trees on home sites.

Homes here were mostly built between 2008 and 2009 and are grand in scale, most having over 4,000 square feet of living space. These homes are custom built and have amazing attention to detail. There is a true sense of community, though there is no homeowners association. Prices can vary widely due to size and lot location.

This great location is between Lake Wylie and Rock Hill. There are many options nearby for shopping and restaurants. Two miles away will find you at the Commodore Yacht Club Marina. Allison Creek Public boat ramp is just minutes away as well. A trip to Uptown Charlotte should take around 45 minutes.

To see housing options in The Glades at Windswept Cove area or any other Lake Wylie area home, give us a call at 803-831-8588. You can read more about Windswept Cove here. Be sure to visit our search page where you can view current listings and create custom searches.

Lake Wylie Confirmed Attractive for Retirees

Niche, a Pittsburgh-based research and review site, just released their rankings for the top spots in the Charlotte area for retirees and those soon to reach retirement. Lake Wylie and surrounding communities rank high on the list and it’s not hard to see why. The Lake lifestyle and abundance of great homes are attractive all on their own, but Niche also measured many other factors to come up with a score for each area. Some of those included share of residents 65 or older, proximity to amenities such as restaurants, golf courses, exercise facilities, and health care. The categories were weighted with percentage of residents 65 years or older getting the most at 15%.

Belmont came in at #18 in the Charlotte area and nationally in at number 3,984. The area gets an A grade for Public Schools, Housing, Good for Families, and Jobs. B grades were earned for Cost of Living, Outdoor Activities, Crime and Safety, Nightlife, Weather, Health and Fitness, and Commute.

Lake Wylie as a whole came in at #12 in the Charlotte area and nationally in at number 2,977. Lake Wylie gets A grades for Public Schools, Housing, Good for Families and Jobs. B grades were given out for Cost of Living, Outdoor Activities, Crime and Safety, Nightlife, Diversity, Weather, and Health and Fitness. The only C given here was for Commute.

Tega Cay came in at #4 in the entire Charlotte area and 1,411 nationally. This great area received A grades for Public Schools, Housing, Good for Families, and Jobs. B grades were awarded for Cost of Living, Outdoor Activities, Crime and Safety, Nightlife, Diversity, Weather, and Health and Fitness. They did however receive a C for commute.

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

To read more about the Niche rankings, see the full story in the Charlotte Business Journal.

Featured Listing: 4548 Water Oak Drive

Just listed is this amazing custom built home located in The Coves. This home sits on a one acre estate sized lot with a private backyard with large screened porch, patio, mature trees, and lots of green space. The lake is across the street and you can enjoy views from the front and side yards. It’s a true must see!

Amazing attention to detail is the hallmark of this true custom home. Outside you’ll find a side-load two car garage, full brick veneer, and lush landscaping. Inside you’ll find gleaming hardwood flooring and abundant natural light. Extensive mouldings, trey ceiling, coffered ceiling, and wainscoting are throughout. Plantation shutters, vaulted ceilings, and an open floorplan make this home perfect for any family.

Within the 3,520 square feet in this home are 5 bedrooms, 4 full bathrooms, and a powder room. The master is on the main floor as are a breakfast room and dining room. Upstairs you will find three bedrooms, two full baths and a large bonus space. There is plenty of room to set up a home office or media room.

This home resides in The Coves, a great Lake Wylie neighborhood built in phases in the early 2000’s. You’ll feel like you are in a true retreat, though restaurants and shops are just 5 minutes away. If you have a boat, you can store it just 3 miles away at the Harbortowne Marina. This home is located just down the road from the Daniel Stowe Botanical Garden, close to shopping, dining, and easy access to Uptown Charlotte and Charlotte Douglas International Airport.

If you are interested in scheduling a private tour of this amazing home, give us a call at 803-831-8588. You can view additional photos on the full listing here.

Explore Manors At Handsmill

If you love the Handsmill area of Lake Wylie and want a new construction home, Manors At Handsmill may be the right choice for you. This section of Handsmill has new construction homes built by True Homes that share the same private gated community and amenities. Enjoy the slower pace of Lake living, just 40 minutes away from Uptown Charlotte.

True Homes has 11 floor plans to choose from in Manors At Handsmill ranging from 2,157 to 3,614 square feet. These homes have between 3-6 bedrooms and 2-5.5 bathrooms. Many of the plans have home offices, flex spaces, gourmet kitchens, butler’s pantries, trey ceilings, and much more. Homes have one or two stories and many include drop zones with cubby storage perfect for coats and backpacks. Children in Manors At Handsmill currently attend desirable and award winning Clover schools.

The amenities are a major draw for people moving to Manors At Handsmill. They equal or exceed any other upscale lakeside community. There are two community marinas, docks, Resident’s Club Clubhouse, pool and fitness center. Outside you will find walking trails, a sandy beach, park, playground, playfield, boat and RV storage area and garden plots. These are all in addition to the 300 miles of shoreline and 14,000 square miles of Lake Wylie.

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Prices start at $273,900, though most homes with upgrades and options sell for over $300,000. Properties with water frontage command a premium and have sold for up to $1.7 million.

If you are looking to buy a home in Manors At Handsmill, give us a call at 803-831-8588. You can view current listings and create custom searches on our website here.

April Market Report

Analysts are optimistic about a slow-down in the rapid pace of home price increases in the Charlotte area. There also appears to be a halt to the decline in the number of homes sold, bucking an 11-month trend. It remains to be seen if the halt is temporary, or the beginning of a longer trend. Homebuyers could use a break as they have not had equal footing in real estate transactions with sellers for a long time with the persisting low inventory and rising prices.

When you look at just Lake Wylie, you see that homes are selling quicker than at this time last year. In fact, cumulative days on market before sale went from 96 days down to 69 days, down 28.1%. Days from listing to closing also reduced from 128 to 103, a reduction of 19.5%.

Inventory is down slightly in the area, from 3.9 to 3.8 months of supply, but not nearly as low as the entire Charlotte area at 2.2 months. New listings are up slightly year over year from 176 to 178, a rise of 1.1%. Closed sales are up 7.1% from 113 to 121. But the big story in Lake Wylie is that pending sales were up a whopping 30.4% from 115 to 150! This is great news for the next few months as we should see strong sales numbers when these pending sales head to the closing table.

Prices in Lake Wylie are headed down per the report, but remember due to small sample size, a few large transactions, or lack of them, can skew numbers so we need to wait and see if this is part of a larger trend. Average sales price was down 5.3% from $395,080 to $374,062. Median sales price was also lower by 8.4%, from $360,426 down to $330,000.

If you are looking to buy or sell 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.

 

Just Listed: 5929 Johnson Road

Newly listed is a true lakefront custom home that leaves no detail to chance. Careful thought, meticulous planning, and exquisite execution brought this amazing home together. Now it can be yours with only enjoyment ahead.

This home is located on a cove off the main channel of Lake Wylie with a Clover address that feeds to award winning and desirable Clover schools. The home is located within a community, but is not a part of the HOA. The lot is very private and is a dockable waterfront homesite. The home sits on an acre of property giving privacy, but also room for outdoor entertainment and living spaces.

This home is unique as it has a fully finished basement, as well as a carriage house with a suite perfect for a caregiver or the in-laws complete with full kitchen. Also included are a en-suite laundry, fitness room, and home office. You’ll be amazed at the custom built-ins, the chef’s kitchen, and the details like chair rail and wood inset trey ceiling.

You’ll love to relax on the deck or have morning coffee on the screened-in porch. The view of the lake is phenomenal. You can tool around the neighborhood on a golf cart and park it in its own private garage. You’ll also love the abundance of natural light that plays on the vaulted ceiling in the main living area.

To schedule a private tour of this home, give us a call at 803-831-8588. You can view the full listing and see additional photos here. To view additional listings and create custom searches, visit our website here.