Lake Wylie Real Estate Information

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.

Prepare to be fully relaxed in a low-maintenance active-living community right on the shores of Lake Wylie. Regency at Palisades is a new construction community developed and built by Toll Brothers. There are existing homes, new construction homes and a few quick move-in homes available. The community features abundant amenities, exquisite homes and a luxurious lifestyle.

Regency at Palisades is located south of York Road (highway 49) on the North Carolina side of the lake right near Palisades Elementary School. Within a 30 minute drive, residents can get to Uptown Charlotte or Charlotte Douglas International Airport. There are many different options for museums, sporting events both pro and amateur, theater, arts, entertainment, and more close by. Just to the North is McDowell Nature Preserve with over seven miles of walking and hiking trails.

A lifestyle director helps residents take advantage of the amenities and activities for the community. There is a full calendar of activities in the clubhouse, indoor pool, recreation facilities, spa, billiard and game room and more. Outside, explore the pickleball courts, outdoor pool, bocce courts and tennis courts, not to mention walking trails. The homeowners association also provides lawn maintenance for homes giving residents more time for other activities.

Homes in Regency at Palisades were started in 2014 and there are still lots available for you to build your dream home. There are 8 different floor plans available, but they can be customized to make them work for your lifestyle. These exceptionally crafted homes have master suites on the first floor, open floor plans and designer details.

Children in Regency at Palisades currently attend 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.

In the past year, homes in Regency at Palisades sold for between $419,000 and $732,217 with an average price of $524,865. There are currently 21 homes for sale in the neighborhood representing a 6.8 month supply of homes. Current listings have homes for sale in the low $300’s up to the high $600’s.

If you are looking for an amazing 1,500 acre master planned community, Regency at Palisades is right for you. This low-maintenance, high-end lifestyle can be yours every day.

If you are looking for a fantastic home with access to Lake Wylie and top rated Clover schools, check out Lake Forest. This amazing community has it all and a convenient location as well.

To get there from Charlotte, you can take Charlotte Highway all the way, or you can connect with I-485 or over to I-77. Carowinds Amusement Park is close by as well as Rivergate for shopping and dining. An Uptown commute will take around 30 minutes as will a trip to Charlotte Douglas International Airport.

Residents have access to a community boat launch suitable for canoes and kayaks. There are also many marinas nearby and public boat launches  available for use. Other amenities include a playground, recreation area and street lights.

Homes in Lake Forest were built between 2007 and 2014. Many of the homes are grand in scale with sizes ranging from 2,100 square feet to over 5,000 square feet. Lots are typically between a fifth and a third of an acre with some lots being much bigger. Many of the homes have outdoor living spaces including saltwater pools, outdoor kitchens, fire pits, decks, patios and sports courts.

Most of the homes in Lake Forest have three to five bedrooms and two and a half to four and a half bathrooms. Many homes have home offices, butlers pantries, mudrooms and many more builder features and upgraded features.

Lake Forest is currently zoned for top rated schools making the area even more desirable. Children attend Crowders Creek Elementary School, Oakridge Middle School, and Clover High School. Please verify school assignments as they can change from one school year to the next and zoning boundaries can cut through a neighborhood.

In the past year, homes in Lake Forest have sold for an average of $301,643 with $265,000 being the low and $330,000 being the high. There are currently 4 homes on the market which represents a 6.9 month supply of homes. This is in comparison to the 5.5 month supply for all of Lake Wylie. This means that the market is pretty balanced between buyers and sellers in Lake Forest at this time.

Another month has passed and we now have the monthly numbers from the Charlotte Regional Realtor Association. The data they use us from the Carolina Multiple Listing Services. In this monthly report, the CRRA compares numbers from this year to last year. Once again, the trends are showing that inventory is tight and prices are rising.

When you look at the entire Charlotte region, sales are down year over year by 6% from 4,800 to just 4,514. This is the 4th straight month of declines for the region. Average home price is up from $270,274 to $294,107, a rise of 8.8%. Homes are selling more quickly, just 38 days from list to sale, down from 43 days last year. Supply of homes went from 11,736 last year, down 14.3% to 10,052 this year representing a 2.4 month supply.

The story isn’t all grim however, pending sales are up 7.4% over 2017 from 4,443 to 4,771. New listings were also up slightly, up 1.5% from 5,576 to 5,660.

When you look at Lake Wylie, the picture is a little bit different, but keep in mind that with the smaller data set, numbers can be skewed by a few large homes selling, or a new construction neighborhood starting to sell homes.

In Lake Wylie, sales were up 16.7% from 108 to 126. Average home price was up 6.3% from $361,817 to $384,436. Homes are selling in an average of 63 days, down just one day from last year. Supply of homes went up from 393 to 417 representing a 4 month supply. This means that transactions are more balanced between buyers and sellers than in the Charlotte region as a whole.

Pending sales in Lake Wylie are up 3.3% from 92 to 95. New listings are up 17.5% from 126 to 148. This means that there are still many buyers in the area and they are motivated to buy even with higher average prices.

It remains to be seen if there is a general trend across the nation where the housing market is starting to cool down. Some analysts are predicting that prices are on the way down and that the market will balance as supply increases.