State of the Housing in the Charlotte Market by UNCC

A comprehensive report issued last week by the Childress Klein Center for Real Estate (CKCRE) at UNC Charlotte offered a sobering picture of the State of Housing in the eight-county Charlotte Region. Using a wide range of housing data from 2010 – 2017, the report concludes that our region is woefully under-producing both for-sale and rental housing, leading to a growing affordability crisis that is most directly impacting middle-income families.

Read the article:

https://rebiccharlotte.com/2019/01/22/unc-charlotte-state-of-housing-summit/

Lake Wylie/Steele Creek/ Charlotte Real Estate report

The yearly numbers are in for 2018 for the Lake Wylie/Steele Creek Real Estate Market. The Carolina Realtors Association compiles data from the Carolina Multiple Listing Services to get a portrait of the local real estate market and provide us with data to analyze for our readers interested in Real Estate. This is what they show.

The Charlotte Region:

When you start digging into the numbers, for the entire Charlotte region sales were down 14% from December of 2017. Prices were up slightly, with the average sales price up 1.1% to $282,894. Inventory was down yet again from a 2.3 month supply to a 2.2 month supply, a decline of 550 homes. This leaves sellers again in the best position in real estate deals with a balanced market considered to be a 4-6 month supply of inventory. Pending sales were dead even and new listings were down 4.4% from this time last year.

In the Steele Creek area zip codes 28278 and 28273 the Market is extremely tight,

1325 Homes were sold compared to around 2000 in 2017. Currently there were only 15 Homes priced under $300,000 in the entire 28273 area, most sell within 10 days of entering the market and the overwhelming majority of those were priced under $350,000.

York, Clover and Lake Wylie: Zip Codes 29710 and 29745

A similar pattern continues in the South Carolina Market, sales were down from 2017 from a high mark of 1300 to 1135 in 2018, the majority of those 848 were priced under $350,000. Current active inventory is 221 Homes.

When you look just at Lake Wylie, South Carolina non waterfront resale Homes the story is a little bit different. Closed sales were indeed down year over year 15.3% from 98 to 83. Due to the small sample size, the percentages can look extreme so please keep that in mind. Average price was up year over year to $409,539, an increase of 16.2%. Inventory was dead even from last year in terms of months of supply at 3.3, but remember about that extreme note from earlier, there were actually 26 more homes on the market.

This means that sellers are still in a slightly better position in the Lake Wylie area. New listings are on the rise in the area with many new construction projects helping to boost the supply. The new listings were up 23.9% from 67 to 83. Pending listings were down year over year from 75 to 62, down 17.3%. Homes spent longer on the market in 2018 with days on market up 102% from 51 to 103, but this probably reflects new construction homes which typically stay on the market substantially longer than existing Homes.

In River Hills there is an extreme shortage of Homes on the Market the lowest in recent memory 52 closed last year with currently only 9 on the Market. New Homes accounted for an amazing 245 sales with strong sales in the Paddlers Cove Community

WATERFONT MARKET UPDATE

Median prices continue to rise in the waterfront market due to low inventory and high demand, as of this writing there were just 91 active listings in both Carolinas down from the 120 to 140 we experienced over the last decade with a median asking price of $839,000 which is over $100,000 more than last year with only 5 priced below $600,000.

The 1 Million plus market was very active with 11 Million Dollar plus Homes closed in 2018 and currently 14 are on the market, both numbers are about the same as 2017. A total of about 120 legitimately waterfront Homes sold down from about 160 from the year before due to a shortage in inventory with a median price pushing close to $725,000 up from the low $600,000’s a number that stayed steady for some time.

TIPS FOR BUYERS AND SELLERS:

In this unusual Housing market it is still important to discuss Home staging, photography, drone shots, brochures, marketing, Web presence and most of all pricing strategy. Here are a few other tips to guide the process.

The Real Estate transaction is a complicated and emotional process. Contracts and addendums are extensive sometimes reaching 20 to 30 pages.

Make sure you review all the documents prior to listing or purchasing a property, that way there will be no surprises when time comes to make an offer or negotiate an offer..

Understand the hard deadlines for Loans to be approved, Inspections to take place and negotiations on any repairs, speaking of repairs this is the biggest deal killer of them all as Inspectors are paid to find out everything that is not perfect with the Property, that offends most all Sellers.

The best tip of all is always hire an experienced professional Agent not a friend of a friend that just got Licensed or the former Barber or Hair Stylist. Transactional experience is key to a successful and Happy Purchase or Sale.

 

David McCorkle

David lives on Lake Wylie and is the Principle Broker of Lake Wylie Realty. David has been a Licensed Broker for 40 Years.

 

New Restaurant Coming to Lake Wylie

Residents have been waiting with baited breath to find out what will replace beloved T-Bones on the Lake. The wait is finally over. A new restaurant and bar is headed to the prime Lake Wylie spot called Papa Doc’s Shore Club.

T-Bones on the lake was a fixture of Lake Wylie for 24 years. Located on Highway 49 on the South Carolina side of the Buster Boyd Bridge, T-Bones was the perfect location for car riders as well as boaters. It served thousands of customers Western themed seafood, steaks and late night comfort food. This location has been a restaurant for almost 50 years so before T-Bones it was Hungry Fisherman.

The new Papa Doc’s Shore Club is being put together by Charlotte’s Bottle Cap Group. In Charlotte they have been behind restaurants Ink N Ivy, All American Pub, Slate Charlotte, Whiskey Warehouse, Jacks Corner Tap, Brazwells Premium Pub, Hot Taco, Rosemont and Oak Room. They also have locations in Greenville and Charleston, South Carolina.

Papa Doc’s Shore Club is expected to serve a modern American menu including seafood influences. Offerings will include oysters, lobster tails, and daily chef’s specialties. The bar will feature a tiki-themed cocktail menu. They plan to serve lunch and dinner each day, have a merchandise store, and have to-go service for boaters.

Expect Papa Doc’s to be a great gathering space for community events as well. T-Bones was known for charity work and community events and Papa Doc’s wants to fill that slot. Hopefully they will continue the annual Lake Wylie Children’s Charity fall benefit concert, Riversweep, and the Lights on the Lake holiday boat parade as well as many smaller events throughout the year. An opening date has not yet been set, but expect it sometime in 2019.

For information on waterfront properties in Lake Wylie, take a look at our website, or call 803-831-8588.

To read more about this exciting new project, check out the articles in The Charlotte Business Journal or The Charlotte Observer.

Neighborhood Spotlight: Pierpointe

Come and visit Pierpointe, a remarkable enclave of custom homes on the main channel of Lake Wylie. These homes have stunning views both inside and outside and epitomize the lakeside lifestyle. Add close proximity to major employers, an international airport, and Uptown Charlotte and this location is perfect.

You approach Pierpointe from Pine Harbor Road at Shopton Road. This means that Rivergate is just minutes away providing most of the necessities. There are shops, restaurants, and grocery stores in Rivergate. Residents can quickly get to I-77 or I-485 to connect with Charlotte Douglas International Airport and Uptown Charlotte.

Homes in Pierpointe are grand in scale and full of unique features. Many of the homes have two-story plans and some have fully finished basements as well. Some of the homes have extensive formal gardens, some have guest houses, some have media rooms, there are surprises in each home. Most homes have over 4,000 square feet of living spaces with between 3 and 6 bedrooms and 3.5-4.5 bathrooms.

The waterfront homes in Pierpointe have truly stunning views of the lake. Homes take full advantage of the views with terraces, sunrooms, decks, boat houses with lifts, floating docks and lakeside seating areas. Some homes even have pools that overlook the water. All have outdoor living spaces and lush landscaping making a true retreat. The lots are large, most are at least half of an acre with many over an acre, providing privacy.

These homes don’t come on the market very often, in fact in the past year only two homes came up for sale. Prices range from the $700,000’s to over $1 million.

Children in Pierpointe currently attend Winget 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.

The Best Views: 7032 Brookview Drive

If you are looking for the best views on Lake Wylie in a newly remodeled space, you have to see 7032 Brookview Drive. This home has it all, amazing space upstairs, additional bedrooms and living space downstairs, a deck with million dollar views, covered patio, boathouse and more all in a great walkable location.

The home was originally built in 1977, but just underwent a major renovation. This includes a new three car garage, large enough to store cars, boats, and more. As you enter the property, the house is partially hidden behind a rise. As you approach you will see the new garage and paver patio and retaining wall.

As you enter the home, you will be amazed by the open floor plan and view all the way through and out the huge sunroom. This spacious feeling continues as you walk through the well appointed chef’s kitchen. There is a full dining room, or you can eat al fresco on the deck overlooking the water. The main floor also contains the master bedroom and bathroom as well as a half-bath.

Walk downstairs and you will find an additional living room, two bedrooms and another full bathroom. All of the bathrooms have been fully remodeled. With 3,220 square feet of living space and 3 bedrooms and 2.5 bathrooms, this homes is a great value at the current list price of $899,000.

You can access the lake from the walk-out basement or from the upstairs deck. You can walk all the way down to the covered dock with boat lift. With just under an acre, you will have plenty of room to enjoy everything the lake has to offer and have room for all of your guests.

Children in the neighborhood currently attend Oakridge 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 boundaries can sometimes cut through neighborhoods.

The location of this home really has few rivals. Lake Wylie YMCA and T-Bones on the Lake are within walking distance as are many other local businesses. York Road (highway 49) is just down the road making it easy to connect with I-77 and I-485. Rivergate is just down the road for additional shopping needs. Carowinds Amusement Park, Charlotte Douglas International Airport, and Uptown Charlotte are just short trips away. Closer to home you’ll find McDowell Nature Preserve and Daniel Stowe Botanical Gardens. Don’t miss your chance to own this stunning home.

 

Million Dollar View: 16201 Cozy Cove Road

Located right at the end of Cozy Cove road just past the Palisades you’ll find a truly spectacular home at 16201 Cozy Cove Road. Though not part of the Palisades, this home has an even more impressive view of beautiful Lake Wylie.

As you approach the home you see the all brick facade with side-load two-car garage. The lot is just over one acre so there is privacy from neighbors as well as room for lots of outdoor living. Relax on your beautiful sandy beach or take your boat out from one of the two covered boat lifts at the end of the pier. Relax and swim in the water from the floating dock, or just enjoy the view from the covered deck.

Inside this home rivals the outside. Enter through the front door and you will see high ceilings, columns, hardwood floors, and crown moulding. Explore through the 4,856 square feet and you will find 4 bedrooms and 4 full bathrooms. The master bedroom is on the main floor as are two of the additional bedrooms. You will also see the grand kitchen, dining room, great room and light filled sunroom.

Downstairs you will find a fully finished walk out basement with a full second living quarters, billiard room, and bar. You will also find the 4th bedroom and bathroom. Walk out to take advantage of the views of Lake Wylie’s main channel.

The 20 miles to Uptown Charlotte will take you right around a half-hour if you want to see a sporting event, museum, concert, night out, or commute. Charlotte Douglas International Airport is 18 miles away and will also take right around a half-hour.

Shopping, dining, entertainment and more are close-by at Rivergate. Just a little bit further away you will have more options at I-485 or I-77, both of which are close by. This close highway access is great for feeling connected to the city when you are relaxing with your lakeside living.

This home was made for entertaining and is move-in ready. Currently priced at $1,199,000, this home won’t last long. For more information, see our full listing here.

Gorgeous Lake Living: 5350 Blue Bird Lane

Located on a fully wooded lot facing the main channel of Lake Wylie, you’ll find Cedar Lodge. This unique home sits on possibly the best property on the Lake. There are breathtaking views from all over the property but especially from the glassed-in porch.

When you approach the property, you will see over 300 feet of road frontage. This gives plenty of privacy from neighbors making Cedar Lodge feel like a retreat. There are 1.9 acres of property included as well as the main house, adjacent bunk house and a large garage workshop.

The main home is a 1,566 square foot home with 2 bedrooms and one bathroom built in 1975. It includes the glassed-in porch which measures 26’ x 16’. This room is truly what makes this home spectacular as you can enjoy living on the water all year round from up here. This lake house is truly a classic.

Next to the main house is a second living quarters in the form of a bunk house which has one bedroom and one bathroom. This is a great place for guests, or for the kids to stay and have separate space from parents.

For the maker in your family, there is a large garage workshop that measures 24’ by 30’. This space is perfect for all of your projects, or just for storage space for a great car.

The best part of the home however, is the over 400 feet of lake frontage. This includes a pier and boat lift as well as two private sandy beaches. The views are incredible so this property is a must see.

The location of this house is great as well. Secluded and away from it all, but close enough for a commute or a trip to Uptown. A trip to Charlotte Douglas International Airport will take around 45 minutes and Uptown Charlotte takes around

5350 Blue Bird Lane is on the South Carolina side of the lake which comes with lower South Carolina Taxes. Current listing price is $685,900.

 

Neighborhood Spotlight: Lake Ridge at Pinsto Forest

Lake Ridge at Pinsto Forest is the premier location in Pinsto Forest. This grouping of 40 homes have waterfront and views of the main channel of Lake Wylie. These homes are in Belmont School District so have award winning schools. Some of the homes have private marina access to enjoy all the beauty of Lake Wylie from the water.

Located off South Point Road at Stowe Road, Lake Ridge at Pinsto Forest is tucked away from everything lending privacy and escape. Many options for shopping, dining, and entertainment are close by if you can tear yourself away from the Lake. A quick trip will take residents to Charlotte Douglas International Airport, Uptown Charlotte, Downtown Belmont and many more destinations.

Homes in Lake Ridge at Pinsto Forest are grand ranging from over 3,000 square feet to over 4,000 square feet of living space. These homes include luxury features such as libraries, sunrooms, decks, stonework patios, verandas, pools, and wine cellars.

In the past year, homes in Lake Ridge at Pinsto Forest sold for between $430,000 and $1,350,000. Homes have between 4 and 6 bedrooms and 3.5 and 4.5 bathrooms. Lots are range from just over half of an acre to 1.25 acres. These homes were built between 1996 and 1998 so many of them have been remodeled and updated since they were built. This only makes these amazing homes more desirable. Most of the homes have the master suite on the main floor. Gourmet kitchens and open floor plans are common in these homes as are home offices, fully finished basements and much more.

Children in Lake Ridge at Pinsto Forest currently attend Belmont Central Elementary School, Belmont Middle School, and South Point High School. Please verify school assignments as boundaries can change from one school year to the next.

Don Stephens longtime Lake Wylie Realtor passes away

 

Don Stephens longtime Lake Wylie Realtor and Partner in Lake Wylie Realty passed away unexpectedly at Home last week. Don was recently awarded the Realtor Emeritus designation from the National Association of Realtors for 40 years of service to the Community and the Industry, no one in this area has ever achieved that status.  We used to laugh about the fact that Don probable sold every Home on the Lake at one time or another and some twice. Don knew the Lake like the back of his hand and was the real “MISTER LAKE WYLIE”

Don was a native of Charlotte a true Gentleman and Scholar and will be greatly missed, He is survived by his Daughter Natalie and her Husband  Andy Adams of Clover, three Grandchildren and of course  all his friends and Business associates over the years. So long Don.

Fine Waterfront Living: 8560 Lilybet Lane

If you’re looking for a pristine home on Lake Wylie’s waterfront with a gourmet kitchen and grandfathered enclosed boathouse, look no further than 8560 Lilybet Lane. This amazing home has been completely renovated and has unfinished space over the detached garage that can be turned into income property.

Located on a private cove, you will never have to deal with the wake on the main channel. This makes this property perfect for your own beach. The fully enclosed boathouse has a boat lift and floating dock. Along the shore, a clever fire pit has been constructed with a patio and built in benches perfect for relaxing and watching the sunset. You can also see stunning views from the large lakeside deck along the back of the home, or from the screened in porch.

This property is only 20 minutes from Uptown Charlotte. Just up the street is the Charlotte Yacht Club, and Berewick neighborhood. There is easy access to I-485 and you are minutes from shopping at Charlotte Premium Outlets. Shopping and dining options are also available on Steel Creek Road a few minutes away. If you need to feel like you have more of a retreat, there is a 5.15 acre parcel behind this property that is also for sale at this time which can be subdivided to make a family compound, or kept as a buffer for solitude.

Inside the home, you will find three bedrooms and two bathrooms in a thoughtfully laid out ranch style home with 2,013 square feet of heated living space. Hardwood floors go all through the home. Plentiful windows let in abundant light and lake views. The vaulted ceiling in the living room makes the whole home feel like a retreat. The kitchen is a chef’s dream with dynamic cooking system stove with downdraft vent. The fridge is built in and there is a large stainless farm sink. Stainless appliances and warm wood cabinetry round out the space. The bar space is great for additional seating for entertaining or just for an easy breakfast spot.

Both bathrooms have been recently remodeled with new fixtures, tile, vanities and counters. The master bath has a huge soaking tub and lots of great storage. There is a separate laundry room with storage cabinets and utility sink.

The exterior is constructed with stone and vinyl for minimal maintenance. There are also two separate storage outbuildings on the property perfect for a workshop or storage for kayaks, life preservers, and water toys.

Current zoning has children in the neighborhood attending Berewick Elementary, Kennedy Middle and Olympic High Schools. Please verify school assignments for accuracy.

Don’t miss out on this rare opportunity to own this stunning home currently listed for $699,900. At .83 acres with waterfront, private cove and boathouse, it’s a steal. For more information, check out our full listing page here.