October Market Report

The monthly report has been published with data from the Carolina Multiple Listing Services, Inc. The report is compiled by the Charlotte Regional Realtor Association which reports on the entire Charlotte metro area including parts of South Carolina. The report is clear, the trend in the Charlotte area is continuing once again. For yet another month, supply of homes has gone down while prices have risen. This is great news for sellers, as they can expect to receive top dollar for their homes, but it is continuing to be hard on buyers as they have to be ready for a home as soon as it hits the market and be ready to pay top dollar.

When you look at the numbers for Lake Wylie, supply is falling and prices are still on the rise as well. Additionally, there are not many new listings compared to last year at this time so it is unlikely that the supply of homes on the market will recover soon. In fact, the supply of homes is down to just a 2.8 month supply, down from a 4.1 month supply last year. This decline of 31.7% brings the Lake Wylie area more in line with the rest of the Charlotte area. A balanced market between buyers and sellers is typically considered to be about a 4 to 6 month supply of homes so sellers have a distinct advantage at the moment.

Prices have been rising as the supply of homes dips which is a basic rule of supply and demand. The median sales price rose from $346,000 last year to $365,000 this year. The average price for a home sale rose to $438,669 which is getting closer to the average price in Lake Norman which was $498,318, just shy of $60,000 lower.

Closed sales were up from 62 last year to 121 this year, an increase of 95.2%. Pending sales were also up from 98 last year to 133 this year, an increase of 35.7%. New listings were down from 126 last year to just 110 this year, down 12.7%.

If you would like to help bring the new listing number higher by selling your home, give us a call at 803-831-8588. If you are interested in buying a home, first check out our website to view current listings and create a custom search. If you are interested in a particular neighborhood, we can let you know as soon as new listings are placed for sale.

New Shopping Options Coming in Steele Creek

One of the pitfalls of living in the Lake Wylie area is that there are not as many options for shopping and dining out there. If you live closer in to town, you have many more options, but you don’t have the lake lifestyle. These trade offs are about to be less of a problem for lake residents as they are about to get more shops and restaurants nearby.

The new shopping center will be located on Steele Creek Road near the intersection with Interstate 485. There are existing shops already across from this spot, including a Walgreens, Starbucks, and Harris Teeter. Less than a mile away are the Charlotte Premium Outlets. This new development is expected to have a wide range of tenants from a steak restaurant, to bank, to cell phone provider to healthcare services.

Konover South, an over 60 year old firm based out of Florida, bought the property for $4.8 million and closed the deal last week. This is their first property in North Carolina, though they have many properties in Florida and Ohio. They are now in the planning stage where they will come up with the design and work through the permitting process. The construction phase of the development should begin in early 2020 with completion sometime in 2021. They are planning on around 32,000 square feet of space so there could be more tenants depending upon the plan.

Lake residents will be pleased with additional retailers to support them. There are so many new developments in the Lake Wylie area that we need more options.

If you are interested in owning a home in the Lake Wylie area, call us at 803-831-8588 to schedule a private tour of homes. You can view current listings and create custom searches on our website here.

View the 2019 Parade of Homes

The annual Parade of Homes has already started, but there is still plenty of time to tour these amazing homes. This yearly event is brought to you by The Homebuilders Association of Greater Charlotte. It’s like the largest open house where you can tour a variety of different homes in different price points, areas, and styles. This event is free to the public, but it may just help you purchase your next home.

Homes on the tour are presented by local and national homebuilders and are in some of the most desirable neighborhoods. There are many neighborhoods in the Lake Wylie area that made the tour. The rest of the tour is spread over the entire Charlotte region.

The tour runs for three weekends with only the first already done. The next dates are October 11-13 and October 18-20. Homes are open from 11:00 am to 6:00 pm on Fridays and Saturdays, and from 1:00 pm to 6:00 pm on Sundays. Homes in neighborhoods closest to Lake Wylie are:

  • Paddlers Cove by Dan Ryan Builders
  • Arden Mill by Classica
  • Timberwood by Essex Homes
  • Harper’s Pointe by Taylor Morrison
  • The Meridians by Meritage Homes
  • Regency at Palisades by Toll Brothers (3 homes on the tour)
  • North Reach by Taylor Morrison
  • McLean by Essex Homes
  • Morgan’s Branch by Taylor Morrison

For more information on the most updated dates and times for the tour, you can like and follow on Facebook or you can check out the interactive Parade of Homes website ParadeCharlotte.com. They do have online maps or you can pick up a printed tour book at any of the homes.

Always remember that agents in those homes will work for the builder, so if you want fair representation in a transaction, bring your Realtor with you to help you negotiate. The seller pays for the buyers agent so there is no cost to you. If you are interested in purchasing a home in the Lake Wylie area, bring us along on the tour, or schedule a private tour without the crowds by calling 803-831-8588. You can view all current listings and create custom searches on our website here.

Fall Festivals have Arrived

Labor Day has come and gone and this means that it is almost fall! This amazing time of year is perfect for picking apples, pumpkin patches, and festivals of all sorts. The cooler (hopefully) weather makes being outside with the community a great way to connect. Here are just a few of our favorite festivals close to Lake Wylie:

  • Grandiflora Glass – now through September 29th at Daniel Stowe Botanical Gardens. This is a botanical glass art exhibit within the gardens. Tickets are $14.95 for adults and $7.95 for children with children 2 and under free.
  • Mid Autumn Fest – September 14, 6-9 pm at Daniel Stowe Botanical Gardens. This is an Asian tradition of celebration beneath the harvest moon. Tickets are $14.95 for adults and $7.95 for children with children 2 and under free.
  • The Great Pumpkin Fest – September 14th – October 27th at Carowinds. Free with your $48 park admission, celebrate the season with a corn maze, hay bale maze, challenge course, crafts and more.
  • Flow Fest – September 21st and 22nd 7 am – 10 pm at the U.S. National Whitewater Center. Enjoy two days of yoga, mindfulness, and wellness. Cost is free to attend, workshops are an additional cost.
  • GO FEST – September 26th 6:30-9 pm in Downtown Gastonia. The streets will be closed for live music and local brews and food trucks.
  • Riverfest – September 28th 1-6 pm – Kevin Lofton Park in Belmont. This free festival will include log rolling and kayaking to highlight the river. Expect food trucks and vendor booths.
  • Fall Festival – October 5th 9 am to 6 pm, U. S. National Whitewater Center. Enjoy fall yoga, obstacle courses, apple cider and a build-your-own boat competition. Free to enjoy.
  • 20th Anniversary Festival – October 5th 11 am until 2 pm at Daniel Stowe Botanical Gardens. Visit this family party with petting zoo, crafts and activities. Free to members, $8 adults, $4 kids 2-12, under 2 free.

These are just some of the many festivals worth attending. While you are checking out these festivals, check out the communities they are in. If you are thinking of relocating your family to one of these great spots, call us. If you are interested in a private tour of neighborhoods and homes in the Lake Wylie area, call us at 803-831-8588 to schedule with us. To view current listings and create custom searches, click here.

New Development Permitting Center Approved

City council recently voted to approve construction on a new multi-departmental permitting facility. The new permitting facility will reside in the first floor of the Charlotte-Mecklenburg Government Center.

The space is intended to streamline the permitting process and allow all departments to work together more efficiently. City Manager Marcus D Jones said “The CLT Development Center is the product of our efforts to have collaborative partnerships with the development community. We are excited to bring new, innovative ways to work together to create great projects for Charlotte.”

The CLT Development Center space will house service teams from:

Charlotte Department of Transportation (CDOT)

Engineering

Urban Forestry

Construction Inspection

Charlotte Water

Erosion Control

Subdivision

Zoning

Fire

Plan Review Coordination

The new CLT Development Center will provide the same permitting services they do now as well as expedited services for an additional fee. This is great news for anyone doing a large scale remodel or addition to their home. It will also be invaluable for new construction homes as well as custom builds as expedited services can help projects stay on schedule. The CLT Development Center should be open for business in December of 2019.

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

 

To read more about the Development Permitting Center, click here.

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.

New Development One Step Closer in Southeast Gastonia

Though it has been talked about for years, a major residential project is about to be a step closer to fruition. The land in question sits at the intersection of Union Road and Union-New Hope Road, near the Carolina Speedway, and has 315 acres. There have been many different plans for the project over the last 15 years, but the recession derailed the plans.

This Thursday, the Gastonia Planning Commission will review and vote on a preliminary plat for a subdivision on the property. The plan is from Suncrest Real Estate and Land out of Phoenix, Arizona. It includes 400 single-family homes on 243 of the 314 acres. This would be phase one of the project which could be named Nolan Farm after the main street in the plan.

The zoning on the property could eventually allow for as many as 760 homes, though the expectation is that the number will be lower so there can be a mix of residential and commercial. With that many homes, there will need to be supporting businesses from gas stations and shops, to restaurants and entertainment. Within the community expected amenities include a clubhouse, pool, athletic courts, sidewalks, walking trail, pocket park and green space.

Part of the plan also includes extending utilities to accommodate the new homes. This means water and sewer upgrades which could begin as early as this summer if the plans are accepted. The next steps after utilities are grading the site and preparing roads to service the neighborhood.

If you would like to be in the loop on this development in the works, 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 this potential development, see the full article in the Gastonia Gazette.

 

Papa Doc’s To Open Soon

As soon as the liquor license is in hand, Papa Doc’s Shore Club is set to open to the public in the former space of T-Bones near the Buster Boyd Bridge in Lake Wylie. This past Thursday they began a charity event raising money for Lake Wylie Children’s Charity featuring a taste test of the cuisine. The sold-out charity event runs through Sunday.

Residents and visitors alike are excited for the opening after T-Bones on the Lake closed in December ending a 24 year run. This location is fantastic as you can arrive by foot, bike, car or boat to enjoy food, drinks and fellowship. Papa Doc’s is also close to Uptown Charlotte, around a half-hour, so is a perfect quick escape.

The new space has a tiki theme that you can enjoy as individuals, families, groups, or reserve for larger events. There is an oyster bar as well as lake themed decor and a large events space. With a total of 4 bars, the restaurant can seat 650 people. There is a huge outdoor deck, 38 boat slips, and many indoor seating and bar areas. The menu is large and varied so there is sure to be something to please every palate. Expect a wait at first as this is sure to be a popular spot.

If you are looking to buy 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.

To read more about Papa Doc’s Shore Club, read the full article in The Herald.

Gastonia Summer Concert Series Set to Begin

There are just a few short weeks left of the school year before the summer season is upon us. One of the most anticipated local events is the Downtown Summer Concert Series in Gastonia. There is a diverse lineup for this year sure to please a diverse audience. The first concert is Friday May 17th with a D.J. set at 6 pm and the main concert at 7 pm in downtown Gastonia.

Seven nights of concerts are planned for this year’s series being held every other week from May until August. The first six concerts will be held on Friday evenings and will follow the pattern of D.J. set at 6 pm and featured act at 7 pm. The final concert will be integrated as part of the annual Taste of Gaston festival and will be three separate concerts throughout the day and evening of Saturday August 10th.

The Gastonia Summer Concert Series is organized and overseen by the Gastonia East Rotary Club. They use a budget of $40,000 from the city to schedule shows, pay bands, coordinate vendors, and everything else needed for the events. Any remaining funds are used for public service projects in Gastonia.

Below is a list of the concerts scheduled for this year:

  • Friday, May 17 – On the Border (Eagles Tribute band)
  • Friday, May 31 – DeCarlo, featuring Tommy DeCarlo from the rock band Boston
  • Friday, June 14 – Hot Wire & Nantucket
  • Friday, June 28 – Runnin’ Down A Dream (Tom Petty tribute band)
  • Friday, July 12 – Legacy Motown Revue
  • Friday, July 26 – Randall Bramblett Band
  • Saturday, August 10 – Band of Oz from noon to 2:30 p.m., Jim Quick and Coastline from 3 to 5:30 p.m., and Trial by Fire (Journey tribute band) from 7 to 9:30 p.m.

For more information on this event, see the full article in the Gaston Gazette.

If you are interested in viewing a home in the Lake Wylie area, close to Gastonia for easy access to the Gastonia Summer Concert Series, give us a call at 803-831-8588 or click here to search through current listings.

New Restaurant Coming to Lake Wylie

Residents have been waiting with baited breath to find out what will replace beloved T-Bones on the Lake. The wait is finally over. A new restaurant and bar is headed to the prime Lake Wylie spot called Papa Doc’s Shore Club.

T-Bones on the lake was a fixture of Lake Wylie for 24 years. Located on Highway 49 on the South Carolina side of the Buster Boyd Bridge, T-Bones was the perfect location for car riders as well as boaters. It served thousands of customers Western themed seafood, steaks and late night comfort food. This location has been a restaurant for almost 50 years so before T-Bones it was Hungry Fisherman.

The new Papa Doc’s Shore Club is being put together by Charlotte’s Bottle Cap Group. In Charlotte they have been behind restaurants Ink N Ivy, All American Pub, Slate Charlotte, Whiskey Warehouse, Jacks Corner Tap, Brazwells Premium Pub, Hot Taco, Rosemont and Oak Room. They also have locations in Greenville and Charleston, South Carolina.

Papa Doc’s Shore Club is expected to serve a modern American menu including seafood influences. Offerings will include oysters, lobster tails, and daily chef’s specialties. The bar will feature a tiki-themed cocktail menu. They plan to serve lunch and dinner each day, have a merchandise store, and have to-go service for boaters.

Expect Papa Doc’s to be a great gathering space for community events as well. T-Bones was known for charity work and community events and Papa Doc’s wants to fill that slot. Hopefully they will continue the annual Lake Wylie Children’s Charity fall benefit concert, Riversweep, and the Lights on the Lake holiday boat parade as well as many smaller events throughout the year. An opening date has not yet been set, but expect it sometime in 2019.

For information on waterfront properties in Lake Wylie, take a look at our website, or call 803-831-8588.

To read more about this exciting new project, check out the articles in The Charlotte Business Journal or The Charlotte Observer.