Lake Wylie Real Estate Information

The Charlotte area had a great year in the Real Estate market. Despite inventory woes, prices were up for both median and average for the entire year of 2019. Median price was up 7.1% over 2018 to $255,000. The average price was up 5.9% to $303,722. This is great news for sellers, but is not as great for buyers who have to bring more money to a purchase.

There is more good news for the entire Charlotte area where new listings, pending sales, and sales of homes were up year over year. Closed sales were up 5.9% with 50,854 homes successfully heading to the closing table. Pending sales were up 8.9% to 52,031 homes. There were 61,069 new listings, up 1.7%.

The numbers for Lake Wylie look good as well. Closed sales were up 19.7% to 1,474 homes sold. There were 1,536 pending sales, a rise of 27.2%. New listings were up to 1,850 which represents an increase of 11.3% year over year.  This looks good for 2020 as the market is robust with sales.

Also interesting is that the average sales price in the area is almost flat year over year. There was a slight increase from $397,844 last year and $399,851 this year. This 0.5% increase could be a sign of a few waterfront properties difference, or could be a trend with more affordable homes sold in the area. The median sale price was actually down year over year, but not by much. The 1.4% decrease took the median sales price from $354,765 to $349,900. It is important to remember that these numbers can be skewed compared to the whole Charlotte region due to small sample size.

Homes spent less time on the market in 2019 vs. 2018. Days on market until sale was down by 8 days from 69 to just 61, a decrease of 11.6%. This shows that the area is very desirable. It looks like Lake Wylie’s real estate market is in position to remain strong in 2020.

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 all current listings and create custom searches on our website here.

It’s a new year and there is a new name for the Carolina Regional Realtor Association. They have rebranded and are now known as the Canopy Realtor Association. The name means shelter, support, nurturing, growth, and coverage and is fitting since the association encompasses more area than ever before. It spans through 12 counties in North Carolina and 4 counties in South Carolina and now includes separate reporting for Asheville. They still provide the same reporting from the rebranded Canopy MLS previously Carolina MLS.

The big story from the Charlotte Region in December is the same as most of the rest of the year. There is a lack of inventory, and climbing prices in the area. There is now just a 1.7 month supply of homes in December 2019 compared with a 2.4 month supply in December of 2018, that’s a decrease of 29.2%. Average prices were up 9.9% from $281,728 to $309,752. There is hope for change next year as new listings, pending listings, and closed sales were all up over last year at this time. This could signal a very good January.

When you look at the numbers for Lake Wylie, we are starting to feel more of the inventory pinch that the rest of the region has been plagued with for so long. There is now a 2.3 month supply of homes, down 37.8% from a 3.7 month supply last year. Average home price was actually down from last year at this time from $410,735 to $369,221, a decline of 10.1%. Keep in mind that a few waterfront sales can change that number dramatically due to the small sample size. The market does look like it will be strong in January due to new listings, pending sales, and closed sales were all up year over year.

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 all current listings and create custom searches on our website here.