Lake Wylie Real Estate Information

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.

Get Prepared Now for the sales season Lake Wylie SC 2022

February 3, 2022 by lkw_df Leave a Comment

Spring is typically when the homebuying season awakens from its winter and holiday slumber and roars onto the scene. This year, we could see a robust spring market as many people who held off listing homes flood the market with homes for sale. This means that both buyers and sellers need to be ready. The buyers who act early in the season should have an advantage as well because mortgage rates are expected to start rising in March.

The best way for a buyer to get prepared is to get prequalified for a loan. This helps you to determine how much house you can afford and will help you to narrow down neighborhoods that will work for you. Knowing what kind of house you want and where you want it is the next step to narrow your home search. After that, check available listings and create a custom search so you can know the minute a matching home is listed for sale.

The best way for a seller to get prepared is to get started on the process of staging your home. This means de-cluttering and de-personalizing your home so a buyer can imagine themselves living there. It is also a great idea to fix anything that is wrong with the home for instance leaky faucets or peeling paint. This helps you to get top dollar and can save you lots of money when it comes to repair negotiations in a contract.

If both buyers and sellers are prepared as soon as the ground thaws, we should see the spring season off to a great start. We will have to keep an eye on interest rates to see if there is a slowdown in the market in March or April. This will apply to sellers as well because after they sell their home, they will become the buyers that need to worry about rising rates. This could mean that the spring season will start in February this year.

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

Don’t Miss Out on Unique Properties

January 11, 2022 by lkw_df Leave a Comment

When you are looking for a home on Lake Wylie, you may have only focused your search on specific neighborhoods. Maybe you are interested in homes zoned to a particular school, or you want to be on the North or South Carolina side of the lake. Maybe you are searching for the perfect retreat or waterfront oasis. One thing not to miss out on, are homes not in a specific neighborhood.

Many of the older, more established homes on Lake Wylie were built before many of the neighborhoods were built. This means that you could be excluding the perfect property from your search criteria. Some of these homes have amazing features that are not allowed on newer properties, like boat houses. Some of these homes don’t specify which schools they are zoned for so if you are using a school to narrow your search, you will miss these unique homes in your parameters.

Some of these homes that could be excluded from your search are true finds, like homes built in the 1940’s but have been extensively remodeled to look like a new home. Some have large private lots with private beaches. Some have amazing wooden cathedral ceilings with amazing views of the lake.

If you want help with your property search so you can find the home of your dreams in Lake Wylie, give us a call at 803-831-8588. We can help guide your search so you don’t miss the perfect home. You can search for properties and create custom searches on our website here.

Neighborhood Spotlight: North Reach

January 7, 2022 by lkw_df Leave a Comment

Your opportunity to build a home from the ground up in North Reach may be over, but you can still get in on this amazing new construction neighborhood. Builder Taylor Morrison is in closeout mode with the community, and is finishing the last homes. This is great news for buyers who don’t want to deal with the noise and dirt of construction.

North Reach is located on the North Carolina side of Lake Wylie right before the Buster Boyd Bridge. This great location is just 15 miles away from Uptown Charlotte. There are many swimming and fishing spots nearby, as well as yacht clubs and marinas. McDowell Nature Preserve and Daniel Stowe Botanical Garden are nearby and there are great options for shopping and dining close by.

Amenities for the neighborhood are about finished as well. They include a fishing cabin, walking trails, and a well-equipped outdoor exercise area. Homes in North Reach include a social membership to the Palisades Country Club, though owners are responsible for membership fees and dues. The country club features a junior Olympic swimming pool, tennis courts and fully equipped clubhouse. If you choose to become a full club member, you can enjoy the manicured golf course as well.

Homes in North Reach are open-concept with modern layouts. Floor plans are flexible so they can accommodate home offices. Homes have 2-4 bedrooms, 2-4 bathrooms, and 1,900-3,600 square feet of living space. They have 2 or 3 car attached garages, and are energy efficient.

In the last year, 34 homes finished being built and sold. There are currently 9 homes for sale, and all of them are under contract and are expected to be completed and the sales finalized before spring. Sales prices ranged from $338,877 to $607,547.

If you would like to be the first to know about a home coming up for sale in North Reach, 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.