Lake Wylie Real Estate

Lake Wylie New Large Projects Underway 3/2022

March 21, 2022 by lkw_df Leave a Comment

Charlotte City Council will meet tonight to discuss rezoning of many properties, but the two largest projects are both in the Lake Wylie area. It could be exciting to have new large projects in the area, but it can also cause traffic so many residents have mixed feelings about these big projects.

The first project up for a vote by the City Council is also the largest. At 184.9 acres, this Steele Creek project is expected to be approved as the Zoning Committee approved it with a vote of 7-0 in favor. The petition for rezoning was filed by Steele Creek, LLC and involves property just south of I-485 and east of Steele Creek Road. Based on the filing, developers want a mixed use development with homes, offices, retail, and greenspace.

The next project before City Council is 102 acres located north of Mount Holly Road east of the Catawba River. This rezoning petition was filed by DHIC, LLC and Reventure Park Investments North, LLC. The proposed zoning change would make the land suitable for mixed-use, and innovation. The builders plans outline townhomes, apartments, community amenities, and a community boat dock. Staff recommendation is to approve the petition as long as transportation, environmental and site and building design issues are resolved.

Both projects have to go through the zoning approval process before they can get plans approved and break ground. It could be some time before units are available for sale or rent, but we will keep our eyes on the projects.

For more information on these new construction projects or about buying or selling 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.

Lake Wylie Waterfront | Rock Island Point

March 7, 2022 by lkw_df Leave a Comment

On the North Carolina side of Lake Wylie, you’ll find an amazing neighborhood called Rock Island Point. It has great waterfront homes, close to Charlotte, but still feeling like you’re on vacation every day.

Rock Island Point is located off of Shopton Road, just down from the Charlotte Premium Outlets. Residents are also close to Charlotte Douglas International Airport, and a quick commute to Uptown Charlotte. There are lots of options nearby for shopping, eating out, and entertainment including Carowinds Amusement Park.

The community was built in the mid-1990’s and the homes range between 2,000 and 4,000 square feet. Some of the homes have in-ground pools, spa-like bathrooms, home offices, and fully finished basements. Homes have between 3 to 4 bedrooms and 2.5-3.5 bathrooms. Many of the homes have been updated since they were built.

In the past year, just two homes sold in Rock Island Point. Neither of the homes was on the waterfront. Prices ranged between $370,000 to $519,000. Both homes sold after just 3 days on the market. There is currently one waterfront home on the market, but it went under contract the same day it was listed for sale. If you want to be the newest resident of Rock Island Point, you have to be ready to put in an offer as soon as a home is listed. We can help you with that.

For more information on Rock Island Point or about buying or selling 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: Ridgewater Lake Wylie area

March 1, 2022 by lkw_df Leave a Comment

If you are looking for a new construction home near Lake Wylie, Ridgewater in Southwest Charlotte is a great spot to land. These affordable homes offer resort style living close to shopping, outdoor recreation, with easy commute times. The wooded community feels tranquil, creating a retreat so you will always feel like you are on vacation.

Ridgewater is located off McKee Road south of Youngblood Road right near The Palisades and just down the road from Rivergate Shopping Center. There is nearby highway access making an Uptown commute into Charlotte a breeze. Also nearby are McDowell Nature Preserve, Daniel Stowe Botanical Gardens, Carowinds Amusement Park, and Lake Wylie.

Builder Mattamy Homes is offering their Classic Series in the neighborhood featuring single-family homes with one and two-story plans. Some homes have basements as well for additional living space and storage. Homes have between 3 and 6 bedrooms with options for bonus rooms, home offices, and much more. There are five different plans to choose from with a variety of options to customize the space for a total of 2,003-3,258 square feet. Homes have two or three car garages.

Community amenities for Ridgewater include a swimming pool, cabana with covered patio, playground, pocket parks, and nearby lake access.

In the past year, 44 homes went to the closing table in Ridgewater. They sold for between $307,500 and $553,644 with the average sales price coming in at $454,731.

There are currently 23 homes for sale at varying stages of construction with only one of those homes not already under contract. According to the builder, there will be seven additional homes that should be listed soon, so if this one home is not your dream home, we can help you be ready when those seven are released.

For more information on buying or selling a home in Ridgewater 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.

January 2022 Market Report – Greater Lake Wylie Area

February 17, 2022 by lkw_df Leave a Comment

As things are starting to return to normal on the Covid front, many people are wondering if everything else is going to return to normal as well. When we look at the real estate numbers for January, we can say that the real estate market is not quite normal yet. Prices are still much higher than expected and inventory is still close to an all time low.

When you look at the Canopy Realtor Association report for the entire Charlotte region for January, you see that prices are rising, inventory is low, and homes are selling quickly. Average sales prices are still over 100% of list price meaning that there are still bidding wars and some multiple offer situations happening. And this is typically the slowest part of the yearly cycle.

When you look at the numbers for Lake Wylie, you see that there were 69 homes on the market, down from 165 in January of 2021. Due to lack of supply, the pandemic, and a host of other factors, prices have risen to a median home price of $504,833. This is up 37.8% in only one year. Homes are selling for an average of 101.1% of list price and going under contract in an average of 25 days.

New listings, pending sales, and closed sales were all down in January when compared to the previous year. This indicates that many sellers are waiting for the typically busy spring season to list their homes. This strategy may backfire this year as interest rates are on the rise which can price many buyers out of the market. We may not see as many multiple offer situations if there is a flood of new listings and fewer buyers able to purchase them.

What this means for buyers is they need to bring more money to the table and be prepared for a little less competition for homes. What it means for sellers is they need to be ready for a sale to be quick, but maybe not as quick as last year. We are still seeing homes selling quickly and for sellers to insist on leasing the home back for a month or two after closing so they have time to purchase their next home. Both buyers and sellers need to be aware of this trend, so they can prepare.

For more information on buying or selling 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: Boatshore lake Wylie/ Rock Hill SC

January 24, 2022 by lkw_df Leave a Comment

If you think you can’t afford to live on the lake, you may be surprised to find you are incorrect. The highly desirable neighborhood of Boatshore has affordable single-family homes on Lake Wylie. This great location has a Rock Hill address and feeds to Rock Hill schools but has lower South Carolina taxes. This neighborhood is definitely worth a closer look.

Boatshore is located in Rock Hill off of Mt Gallant Road near Pier 51 restaurant. The neighborhood location is convenient to highway access to connect with Uptown Charlotte and Charlotte Douglas International Airport. There is great shopping, dining, and entertainment nearby as well.

The streets in Boatshore are all named after butterfly species, and you will see many natural elements in the neighborhood and the surrounding community. There are nature preserves nearby, as well as Ebenezer Park just down the road. The park features a public boat ramp for lake access as well as other amenities.

There are 72 homes in Boatshore spread along one main street and five cul-de-sacs. It is not a through neighborhood so there is little traffic. Homes here were built in the early 2000’s and are typically between 1,100 and 1,500 square feet with 3 bedrooms and 2 bathrooms. Many of the homes have decks, patios, and porches to take advantage of the great weather.

In the past two years nine homes in Boatshore have sold for an average price of $231,933. The price range over that same time period was $195,000 – $277,500. These homes are great for singles, families, and are great for downsizing. There are currently no homes for sale in the community, but we can help you be the first to know when a home is listed here. Boatshore is definitely worth a look.

For more information on buying or selling a home in Boatshore 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.

Neighborhood Spotlight: Cooks Cove Lake Wylie

January 21, 2022 by lkw_df Leave a Comment

If you are looking for a custom home in a gated community on the shores of Lake Wylie, look no further than Cooks Cove. This exclusive enclave of homes has a great location, great schools, and wonderful homes that are rarely listed for sale.

Cooks Cove is located right off Lake Wylie Road in the heart of Lake Wylie. The neighborhood is in commuting distance to Uptown Charlotte, and highway access to I-485 and I-77 are convenient via Highway 49. There are many options for dining, shopping, and entertainment nearby, as well as parks and of course, the lake.

Cooks Cove was built in the early 2000’s and features all custom homes with stunning features. Some of those features include wine cellars, sports courts, libraries, home theaters, and salt-water pools. Homes have at least 4 bedrooms and 4 bathrooms, and have 4,000 to over 8,000 square feet of living space. Included in that space, expect spa-like primary suites, secondary suites, and open entertaining spaces. Most homes have home offices, but why work from there when you can work from your dock, boathouse, or floating dock? Many homes have extensive outdoor living spaces to take advantage of lake views.

In the past year, only one home and one lot changed owners in Cooks Cove. In the last 2 years, only seven properties were sold showing the desirability of the community and how reluctant anyone is to leave. Homes on wooded interior lots typically sell in the $500,000’s to $600,000’s while waterfront homes sell for well over $1 million.

For more information on buying or selling a home in Cooks Cove 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.

Year End Market Wrap-up Charlotte/Lake Wylie area

January 18, 2022 by lkw_df Leave a Comment

It can be difficult to see a trend when you are just looking at monthly reporting, but that is not the case when you look at the Charlotte area. The pattern that is emerging right now is that the real estate market in the Charlotte area is the same as has been all year and is likely to continue for some time.

The year end data from the Canopy Realtor Association from their Multiple Listing Service clearly shows that prices are up, inventory is down, and homes are selling quickly and for above list price. This shows tremendous buyer demand is still going strong.

When you look at the Greater Lake Wylie area, you see the same pattern holding true. There were 1,794 homes sold in 2021, up 12.3% from 2020. These homes went under contract in an average of 22 days, down 54.2% from 48 days in 2020.

The median home price rose to $442,003. This is up 17.9% from $375,000 in 2020. You would think this would deter buyers from entering the market, but pending sales and new listings were both up, 5.4% and 4.3% respectively showing strong buyer engagement.

Homes in Lake Wylie sold for 101.4% of list price, showing that buyers are still willing to bring additional money to the table to secure the home they dream of. We are seeing a slowdown in the number of homes getting multiple offers, but that could pick back up in the spring.

If you have been holding off from listing your home, you may be in good company come spring, so it will be more important than ever to have your home stand out from the crowd.

As a buyer, more homes for sale can mean that you are overwhelmed with choice and need guidance helping narrow your search.

We can help you with either scenario. Call us for help with preparing your home for a sale, or for help finding your dream home. Call us at 803-831-8588 to get started. You can view current listings and create custom searches on our website here.

December Market Report – Greater Lake Wylie Area

January 13, 2022 by lkw_df Leave a Comment

The December numbers have been published by the Canopy Realtor Association. The report indicates that the entire yearly trend is here to stay for a while at least. Home prices are still on the rise with the average home price in the Charlotte area climbing to $410,119. Inventory is at an all time low with just 3,041 homes for sale in the area representing 0.6 months supply of inventory. Homes are selling quickly and, in a lot of cases, still selling for above list price.

When you look at the numbers for Lake Wylie, prices are definitely on the rise. The average home price in December was $570,379 and the median price came in at $508,750. With demand still high, prices don’t seem like they are going to be coming down any time soon.

Inventory in Lake Wylie is at a 0.6 month supply or just 91 homes for sale. This is down 50.8% from last December when there were 185 homes for sale.

Homes in Lake Wylie are selling for an average of 26 days from list until contract. This is down 33.3% from last December when it was 39 days. This means that buyers have to be ready to put in an offer as soon as a home is listed.

In Lake Wylie, homes are selling for an average of 101% of list price. This means that buyers are still having to be ready to offer above list price and we are still seeing multiple offers on some homes.

Pending sales are up 17.3% from last December, and that should result in strong closed sales in January. Buyers may be spooked by the idea of rising interest rates. We could see a strong winter season as buyers want to lock in mortgage rates before they rise.

For more information on buying or selling 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.