Lake Homes Realty, an Alabama-based firm has ranked Lake Wylie the fifth-largest lake market from the 100-plus Multiple Listing Services they reported on. According to their report, the value of homes listed for sale, based on data for three months ending August 14th, was over $455 million. There were 1,082 homes available, which ranked Lake Wylie number 3. Their report only looked at homes and land that were adjacent to a lake, included a water view, lake access, or were in a lake-focused neighborhood. This could mean that neighborhoods that were not on the lake, but were considered by consumers to be lake listings were included as well.
When you look at the numbers from the most recent report from the Charlotte Regional Realtor Association’s Multiple Listing Service report, you find that the Lake Wylie region is humming along quite nicely. Almost category was up from the year before. Supply of homes was down to just a 3.2 month supply of homes, getting closer to the 2.2 month supply for the entire Charlotte region. This is not surprising given the general trend of lack of supply that has been plaguing the area for some time. New listings have not been able to keep pace, and this in turn has pushed prices even higher.
Lake Wylie is still more affordable than Lake Norman where the average price for a home is $472,444, but the average price for a home sale in Lake Wylie has risen to $423,236. Rising prices may be pushing some buyers to lakes further away from Charlotte when looking for their dream home or second home. However, there are still affordable options in Lake Wylie.
Pending sales were up 96.9% year over year and new listings were up 44.9% showing that for the next few months at least the market will continue to be strong. Closed sales were up 14% year over year and are up 12.8% year-to-date.
If you are interested in 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.