Lake Wylie Real Estate Information

Neighborhood Spotlight: Mill Creek Falls

September 12, 2022 by lkw_df Leave a Comment

Now that school is back in, you have time to reflect on the best bits of summer. For many of us, those times are on the water. If you want to be close to Lake Wylie, the master-planned community of Mill Creek Falls brings you the best of everything.

This great neighborhood has a very active homeowners association which organizes events and activities throughout the year. Many of these events center around the Junior Olympic sized pool or the Clubhouse. They range from a chili cook-off to an Easter egg hunt and are perfect for residents of all ages. In addition, amenities include tennis courts, gazebo, picnic area, walking trails, children’s pool, and a six-acre lake.

Outside of Mill Creek Falls, you are close to highway access, outlet malls, restaurants, grocery stores, entertainment venues, sports venues, and the town of Lake Wylie. Public boat launches and parks are nearby so you can take full advantage of the lake lifestyle. The neighborhood is located off of highway 274 on the South Carolina side of Lake Wylie which means you get the advantage of lower taxes and highly desirable schools.

Homes in Mill Creek Falls were built between 2005 and about 2015. They are single-family homes with semi-custom details. Many of them have been remodeled and updated since they were built. The average sales price for these homes is right around $450,000. They range between a 3 bedroom, 2 bath with just over 1,500 square feet for $320,000 all the way to a 5 bedroom, 3.5 bath with almost 3,500 square feet for $620,000.

Currently there are 5 homes for sale in Mill Creek Falls which represents a 1.8 month supply of inventory. This is compared to a 1.9 month supply for the whole of Lake Wylie and a 3 month supply in York County. In the past year, around 3 homes per month sold in Mill Creek Falls showing that there is a very stable market in the neighborhood. To schedule a private tour of available homes in Mill Creek Falls, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Windward Cove Lake Wylie 9/8/22

August 30, 2022 by lkw_df Leave a Comment

Windward Cove is a gem of a neighborhood in the Steele Creek area of Charlotte, North Carolina near the shores of Lake Wylie. With gated access to the lake and a community boat ramp, residents can take full advantage of watersports and everything the lake lifestyle has to offer.

Windward Cove is located off of Shopton Road with easy highway access. Residents are close to shopping, and dining. They have an easy commute to Uptown Charlotte, and are close to Carowinds Amusement Park for fun throughout the year.

Homes in Windward Cove were built between the mid-late 1990’s and the early 2000’s. Most of these homes have 3-5 bedrooms and 2-3.5 bathrooms. Square footage is typically around 1,800-4,000. Many of these homes have been improved and remodeled in the years since they were built. Some of them have amazing additions that were built in recent years such as in-ground salt water pools, fully finished basements, home offices, and much more.

In the past year, three homes sold in Windward Cove. They reneged between a 3 bedroom, 2 bath home with 1984 square feet that sold for $450,000 to a 4 bedroom, 2.5 bath home with 2,406 square feet that sold for $504,851. There is currently one home for sale in Windward Cove, but it is already under contract. If you would like to get in on this fabulous spot, you have to act quickly because these homes don’t stay on the market for long.

If you want to know more about Windward 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.

UDO Passes Charlotte City Council Vote

August 25, 2022 by lkw_df Leave a Comment

Planning and Zoning laws in the Queen City are a complicated issue and were developed over a lot of time with standardization. That’s what the Unified Development Ordinance or UDO aims to change. There are many areas of the UDO that homeowners in Charlotte contested, but City Council on Monday the 22nd voted 6-4 to adopt the ordinance. Here’s what it means for Lake Wylie folks who have a Charlotte address.

The item that got the most pushback from residents is the change in zoning to allow multi-family development in areas typically set aside for single-family only housing. It means that a parcel that used to have just one house could be developed to have many different families living all together adding urban density and preventing suburban sprawl. Many residents are concerned about the ruling changing the character of neighborhoods and inviting more gentrification. This change in zoning would not affect anyone who lives in a neighborhood with an Homeowners Association as the rules of the HOA will still apply regardless of what City Council does.

Other major parts of the UDO involve parking minimums and rules for cars, electric vehicles and bikes. These are not too much of an issue the further out from the city center you are, but do come into play if you live close to a transit station. The ordinance also spells out how many charging stations and bike parking spots you need to have for mixed-use developments.

Residents will also have more ways to help preserve the historical nature of neighborhoods. This is meant to help stop gentrification from erasing our city’s history.

The UDO also sets rules for tree removal. In order to remove a heritage tree, one native to the area and of a specific size, you will need a permit and will have to plant a tree to replace it and possibly pay a fee. This measure is to help protect our tree canopy and keep areas of open space despite denser development.

To learn more about this issue or to talk 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.

Toll Lanes Could Come to Lake Wylie Area

August 18, 2022 by lkw_df Leave a Comment

A recent proposal could bring more toll lanes to the Lake Wylie area. The proposal calls for toll lanes on the southside of Charlotte, running from Brookshire Freeway (I-277) all the way south on I-77 to the South Carolina State line. Cintra, the company behind the toll lanes on the North stretch of I-77 from Brookshire Freeway to Moresville submitted an unsolicited proposal for the project.

Toll lanes can be controversial, especially when the rates for the lanes vary with the density of traffic. They can feel like “highway robbery” and at times are not any faster than the non-toll lanes. But, for those with the money, toll lanes can get you where you want to go a lot faster. Getting rid of toll booths in favor of rfid tags or pay by plate options became the norm during the Covid pandemic and have made toll lanes even faster and more convenient.

It remains to be seen if this unsolicited proposal becomes a big construction headache. There are many steps to the process before any project would begin. NCDOT or North Carolina Department of Transportation needs to review the proposal and funding would need to be arranged before any work would be completed. After that would be planning and measuring and design before they ever break ground on a project. Cintra estimates that if they clear all of those hurdles, they could begin work in the middle of 2024 with a completion estimate of mid-2029. But the toll lanes on the northern stretch were plagued with cost and time overruns so the mid-2029 timeline could be optimistic.

We would assume that the same company will take care of payments on any future lanes so once again people can sign up for a NCQuickPass. The pass will work on all express lanes around the area including the Monroe Expressway, I-77 toll lanes, and any future projects like toll lanes on I-485.

To learn more about this issue or to learn 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.

July Market Report – Greater Lake Wylie Area

August 15, 2022 by lkw_df Leave a Comment

Once again, the monthly numbers have been published by the Canopy Realtor Association for the Greater Charlotte Metro Area and for the Greater Lake Wylie Area. The trend we are seeing is that there is more inventory of homes for sale, but prices have not yet dropped so we are still firmly in a seller’s market. This means that sellers have the upper hand in real estate transactions right now, but we are seeing signs that buyers have more power in negotiations.

When you look at the whole Charlotte region, you see that there is now a 1.4 month supply of homes, representing 6,637 listings. This is up 23.9% from 5,356 last July. The average sales price was up 15.4% from $397,474 last July to $458,635 this July. New listings, pending sales and closings were all down year over year as we see the effects of higher prices and higher interest rates reflected in the report.

When you look at the data for Lake Wylie, you see the same trend. There are 23 more homes for sale this year, or 14.1% more. Average price is up almost $24,000 in just one year or 4.4% higher. New listings are down 13.8%, pending sales are down 29.2%, and closed sales are down 47.8% year over year. Homes are still selling quickly, with the average home spending just 10 days on the market before going under contract. They are also still selling on average for 101.5% of list price.

With school starting, this is generally one of the slowest times of the year for real estate, especially for families who have kids in schools. However, it can be a great time of year to get a house because there is less competition from other buyers.

To learn more about the Real Estate Market or for information 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.

June Market Report – Greater Lake Wylie Area

July 18, 2022 by lkw_df Leave a Comment

The real estate market appears to be headed for a slight correction. According to the monthly data from the Canopy Realtor Association, the supply of homes in the Charlotte Region was up slightly in June, the first time in many months. This signals that the market may be slowing down from the furious pace it has sustained for the last few years. The supply of homes rose from 4,732 last June, to 5,334 this June, an increase of 602 homes or 12.7%.

Closed sales were also down year over year, with a decrease of 13.6%. New listings were up 4.1% year over year. These factors together signal that homes are spending longer on the market, and more people are listing their homes. Prices have yet to fall in accordance with the increased supply, we will have to wait to see if there is a corresponding price correction.

When you look at the numbers for Lake Wylie, you see a much smaller rise in inventory, just two homes more this year than last. It is not unusual for trends in smaller areas not to match the overall trend due to the small sample size. New listings, pending sales, and closings were all down year over year, 8%, 26.6%, and 26.9% respectively. Homes are still going under contract quickly, with the average of 16 days from list to contract.

Prices in the greater Lake Wylie area are still on the rise, with the average sales price coming in at $698,709 in June. This is up 36.1% from $513,455 last June. Sellers can also expect to get at or above list price with the average home selling for 102.3% of list price. This means that the market is still favoring sellers and will continue to do so until the supply of homes reaches a 4-6 month supply when the market is considered to be balanced between buyers and sellers. This shows that higher interest rates have not slowed buyers in our area yet.

If you want to know more about any 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: Lakepoint Lake Wylie

July 5, 2022 by lkw_df Leave a Comment

Tucked away just down the road from Daniel Stowe Botanical Garden, you’ll find Lakepoint. This great neighborhood is on the banks of Lake Wylie, but has a Belmont address so feeds to award winning and highly desirable Belmont schools.

Lakepoint is located just minutes from highway access to I-85 taking residents quickly to Charlotte Douglas International Airport, or into Uptown Charlotte. There are many options nearby for shopping, dining, and entertainment. Downtown Belmont is also close by for community events, shopping, and dining. But make no mistake, you won’t feel like you are close to everything. You feel like you are on a vacation, with amazing homes and the lake as your backyard.

Homes in Lakepoint were built between 2010 and 2021 so they look brand new. They have all of the features that today’s buyers love like large open kitchens, home offices, dual primary suites and much more. Sizes range between 2,500 to over 4,000 square feet with between 3 and 6 bedrooms, and 2.5-5 full bathrooms.

In the past year, just two homes sold in Lakepoint for $700,000 and $795,000. There is currently one home for sale in the neighborhood with almost 3,500 square feet of living space, 4 bedrooms and 3.5 bathrooms listed for $739,900.

If you want to know more about Lakepoint so you can be the first to know when a home is listed for sale, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: The Vineyards at Lake Wylie

June 28, 2022 by lkw_df Leave a Comment

Located 20 minutes from Uptown Charlotte, The Vineyards on Lake Wylie seem like a vacation destination. Resort style amenities and a premier community make this neighborhood top notch. Come enjoy the lake lifestyle with an existing construction home, or with a new construction home.

The Vineyards on Lake Wylie began in 2008 and there are still new construction homes being completed in the neighborhood. There are single-family homes as well as townhomes so there are options for many different sizes of families. Homes have between 3 and 6 bedrooms and 2.5-5 bathrooms with between 1,700 and 4,000+ square feet of living space.

Neighborhood amenities in The Vineyards on Lake Wylie include a cabana, clubhouse with fitness area, dog park with two areas for larger and smaller dogs, two outdoor pools (one geared towards kids and kids at heart, and one geared for lap swimming), secured playground, sidewalks, street lights, tennis courts, and groomed walking trails. There are also pickleball courts, bocce courts, canoe and kayak dock, community boat docks, a deep water boat launch, and a parking area for cars and boat trailers. At the lakeside, there are decks, picnic areas, and a boardwalk along the mile of waterfront. Homeowners Association fees are low, and residents are close to all of the shopping, dining, and entertainment you need.

In the last year, 43 homes changed owners in The Vineyards on Lake Wylie. They ranged from a townhome for just over $300,000 to a 5 bedroom executive home for $730,000. There are currently 18 homes offered for sale ranging from a townhome for around $350,000 to a 4,000+ square foot estate home for just over $1,250,000. All except for three of these homes are already under contract, so if you want to get in this community you need to act quickly.

If you want to know more about The Vineyards on Lake Wylie or to schedule a showing on one of these amazing homes, call us at 803-831-8588. You can view current listings and create custom searches on our website here.