September Market Report

The numbers are out once again from the Canopy Realtor Association. They show the trend once again of low inventory, prices inching up higher, and homes selling quickly. When you look at the entire Charlotte Region, you see that despite more homes being listed than at the same time last year, that inventory has hit a historical low of just a 1.1 month supply. That means that just barely over 5,000 homes are on the market down from just under 10,500 last year.

When you look just at the Lake Wylie area, you see that inventory is down to just a 1.3 month supply, this means that 181 homes are on the market versus 430 last September. This typically means that the seller will have the upper hand in negotiations as there is limited supply so they can command a premium when they do sell.

Average Sales Prices are up 5.5% year over year to $440,675. Sellers are receiving on average 99.4% of list price when they sell. This means that most homes are selling at or above list price so buyers can’t expect any discounts right now.

Homes are selling quickly as well. Last year the average home went from listing to the closing table in 106 days, this year they are selling 10 days quicker at 96 days. This shows that there is high demand for the few homes that are listed right now.

New Listings and Pending Sales are both up, but they aren’t able to overcome the low inventory. The pandemic has exacerbated the already low inventory we have been tracking for the last few years. It remains to be seen if the market will recover quickly or slowly once there is a vaccine.

If you are in the market to buy or sell a home in the Lake Wylie area, call us at 803-831-8588. To view current listings and create custom searches for homes, visit LKWRealty.com

Neighborhood Spotlight: The Landing

Right on the shores of Lake Wylie, you’ll find a serene neighborhood called The Landing. This great community is close to Charlotte, but has lower South Carolina taxes, and is in the top rated Clover school district. This should be enough to entice most people, but then you add on great amenities, community events, and wonderful homes and it’s no wonder these homes don’t last long on the market.

The homes in The Landing are estate style homes with large lots of at least a half acre and plenty of space. Many of the homes have over 3,000 square feet of living space and some have over 6,000 square feet. These homes were built in the early 2000’s and have open floorplans, home offices, and waterfront homes have docks and boathouses.

In addition to these amazing homes, there are great amenities in The Landing. There are 25 boat slips for residents without direct water access. There is also a neighborhood park, clubhouse, and pool. There are around 2 miles of paved walking trails and sidewalks encouraging residents to take advantage of the outdoors. There is a competitive swim team for the kids, and many community events throughout the year.

There are currently 7 homes on the market in The Landing representing 5.6 months of inventory, but of the seven four are already under contract. Typically having 5.6 months of inventory represents a balanced market between buyers and sellers, but with the broader trend of low inventory in the region, sellers may still have the upper hand in negotiations.

In the last year, homes sold for between $365,000 and $1,060,000. This shows the difference between a small interior home and a large waterfront home.

To learn more about The Landing, call us at 803-831-8588. Visit our website LKWRealty.com to learn more about Lake Wylie and to view current listings and create custom searches of available homes.

Large Homes In Demand

Many markets across the United States are showing an interesting trend during the time of Covid-19. People are buying larger homes. There had been a trend for a while where people were downsizing and looking at tiny homes. It seemed like such a good idea to have a smaller footprint, and value experiences over things. That time has passed.

With many people now working from home and helping children with virtual school, many families are feeling the pinch of small spaces. Garages are being taken over by learning pods, and finding a quiet corner to take a business call can be a challenge. We are being asked to multitask on a level never seen before. This is where having a larger space can come in really handy.

Many buyers are looking for homes that have separate offices for two adults, as well as a space suitable for virtual school. Outdoor living spaces such as playscapes, pools, or space for lawn games or trampolines are also big selling points.

The place your home is located is not as big of an issue right now either. With work being conducted remotely for most office jobs, your home just has to be connected to speedy internet. This has allowed many people to contemplate moving to a great natural area such as Lake Wylie. The benefits of this are myriad. Not only do you get the fresh air and natural beauty, but you also get to be part of the lake lifestyle now and once this crisis is over.

To learn more about your options for purchasing a larger home in the Lake Wylie area, call us at 803-831-8588. Visit our website LKWRealty.com to learn more about Lake Wylie and to view current listings and create custom searches of available homes.

New Development on the Horizon

A new development is in the works on Lake Wylie and Little Allison Creek. The proposed project is being put together by Fielding Homes which is a local builder working in the Fort Mill and Lake Wylie areas. Their previous projects include Mason’s Bend and Paddler’s Cove just to name a few.

The new project is called Lakeside Glen and the plans show that it will be a 425-lot single-family residential project. The site sits on 305.7 acres located between Highway 274 and Allison Creek Road.

This project has been in the works for some time, with a preliminary plat originally filed in March of 2015. There have been changes and revisions since the original filing, the most notable has been increasing of minimum lot size.

There are not many more details available at this time so we still don’t know the size or price range of the homes yet. The York County Planning Commission will continue to work with Fielding Homes as this project comes to fruition.

To learn more about this new development, call us at 803-831-8588. Visit our website LKWRealty.com to learn more about Lake Wylie and to view current listings and create custom searches of available homes.

Custom Build in The Retreat at Sunset Ridge

If you are one of the many people who desire the laid-back lake lifestyle, The Retreat at Sunset Ridge might be the place for you. This desirable neighborhood is tucked away and private, but is still convenient to Lake Wylie, Clover, and Uptown Charlotte. The neighborhood features new construction custom estate homes. There are existing homes that occasionally come on the market, or you can build your dream home from the ground up.

Homes in the neighborhood are typically between 2,600 to over 4,400 square feet. They can have anywhere from three to six bedrooms, owner’s suites, guest suites, gourmet kitchens, media rooms, and many more custom features. Homes typically sell in the $500,000’s and land typically sells for $50,000-$85,000 depending on size, topography, and proximity to the lake.

In the last year, only four homes sold in The Retreat at Sunset Ridge. This means that there is not much turnover in the neighborhood which is great if you already own a home there, but can make things tricky if you are trying to get into the neighborhood. That’s where we can help because we know the moment a home is listed on the market, and in some instances, we know before a home is listed and we can help you to be the first to get a sneak peek.

There are currently two homes on the market in The Retreat at Sunset Ridge and both of them are already under contract. There are also 5 lots currently for sale which are perfect for getting a start on your dream home. If you would like to schedule a private tour of homesites, give us a call at 803-831-8588. We can help you get in contact with approved builders for the neighborhood to start you on your way.

You do not want to miss a home in The Retreat at Sunset Ridge, and for more homes available and other great neighborhoods in and around Lake Wylie, be sure to visit LKWRealty.com.

Keep An Eye Out For Trinity Townes

Coming August 10th, there will be a new townhome development in Tega Cay brought to you by Ryan Homes. Named Trinity Townes, homes will start in the $280,000’s to the $350,000’s. Homes will be part of the highly desirable Fort Mill School District and will have lower South Carolina property taxes.

Homes in Trinity Townes will be three story townhomes with up to 2,300 square feet of living space, and two car garages. There are options which include a first floor bedroom, covered porch, and outdoor fireplace. Kitchens are large and open to living rooms making the space feel even more grand. Bedrooms are generous with ample closet space.

One of the best parts of Trinity Townes is proximity to Lake Wylie and Baxter Village. This means that you have shopping, dining, and recreation all within a few minutes. There are public access points nearby for boat launching at Nivens Creek Landing which is less than a mile away. There is easy access to I-77 for a morning commute as well.

Homes are not yet on the market, but are expected to be available starting August 10th. If you are interested in learning more about the process of buying a new construction home, give us a call, we work for you, but the seller will pay our costs. We can help you make sure you are getting the best deal and the most options and upgrades for your money.

If you are interested in buying or selling a home in the Lake Wylie area, give us a call at 803-831-8588. You can create custom searches of current listings on our website here.

Neighborhood Spotlight: Carolina Orchards

There has been a big trend recently of active communities for adults age 55 and over. Carolina Orchards is a prime example of just such a place done right. It has luxurious homes and resort style amenities in a maintenance-free setting all in Fort Mill, SC, just minutes away from Lake Wylie.

Carolina Orchards is brought to you by Del Webb-Pulte homes and is located on the west side of Fort Mill, SC just off SC highway 460 across from Springfield Elementary School. This great location is close to shopping, dining, and entertainment in Fort Mill, as well as being less than 10 miles to Tega Cay. It will take around 25 minutes to get to Charlotte Douglas International Airport and 25 minutes to get to Uptown Charlotte.

Homes in Carolina Orchards range from 2-4 bedrooms with 2-4.5 bathrooms in 1,263 to almost 3,000 square feet of living space. These homes are new construction and can be customized to meet your needs. Most of the plans are ranch style, though there are some plans with two stories. Homes have open floor plans with space inside and outside for entertaining.

Amenities include a state-of-the-art fitness center, hobby rooms, game rooms, indoor pool, outdoor pool, and sports facilities for pickleball, bocce, tennis, and a dog park. There are indoor and outdoor gathering spaces as well as great walking throughout the neighborhood.

In the last year, 40 homes sold in Carolina Orchards for between $275,000 and $617,015 with an average sale price of $439,207. There are currently 10 homes on the market representing 2.9 months of inventory. The wider Fort Mill area has a 4 month supply of homes for sale at the moment.

If you are 55 or older and are interested in this amazing neighborhood, give us a call at 803-831-8588 and we will schedule a tour of available homes. You can view current listings and create custom searches on our website here.

Join the Lake Life

What better gift can you give your dad this Father’s Day than a new home on Lake Wylie? There are so many to choose from at all different price points. What better way to escape the heat than to join the many people who already enjoy the lake lifestyle?

So, you’ve decided to become a homeowner. What’s the next step? You need a Realtor to help you through the process. They are trained professionals who work just for you to walk you through the largest single investment you will probably make in your lifetime.

The first step they will help you through is to get pre-qualified for a loan. This process can be time consuming as you need to provide documentation of your finances to your loan originator. This will include information about your employment, your bank records, and outstanding debts. This will help you know how much home you can afford.

When you have this information, it is time to circle back with your Realtor to start looking for homes. This will initially be done with a search engine like this one here.  Your Realtor has even more search parameters they can set up for you in a custom search so they can narrow down your prospective homes.

Once you have narrowed your search, it is time to go and see the homes in person. It can be hard to tell from photos what the feel of a home is, be sure to pay particular attention to the neighborhood, the location of amenities, the distance to shops and entertainment. It’s a good idea to view the home at different times of day to see traffic to and from work.

The next step is to choose the home of your dreams and work with your Realtor to craft an offer. There could be a few rounds of negotiations, or it could be a done deal the first time. It all depends on how many other people are vying for the same home.

When you have an accepted offer, you need to schedule to have the home inspected to make sure there are no outstanding maintenance issues. If there are, this is time for another round of negotiations where the seller will either fix issues or give you money to compensate you for repairs you will have to do once you own the home.

The next steps are all about getting your loan in order. You will need to provide further documentation to your loan originator, then once all of the paperwork is done, you head to the closing table. You will sign paperwork and the home is yours. Get ready to jump into Lake Wylie as you become the newest resident.

If you are ready to get the process started, give us a call at 803-831-8588. You can view current listings and create custom searches on our website here.

Featured Listing: 144 Autumn Falls #17

A rare opportunity to own an immaculate townhome in Autumn Cove is available now. This wonderful home has everything you need and is close to shopping, dining, highway access, commuting distance to Uptown Charlotte, and is close to Lake Wylie. The home is zoned for award winning Clover schools, yet has lower South Carolina taxes. This impressive home is a must see and won’t last long.

This home has a great open floor plan with the kitchen open to the breakfast room, and large great room. This is the perfect place to entertain as there is also a dining room and a half bath downstairs. Upstairs you will find the large master with spacious walk-in-closet and en suite bath complete with a garden tub and separate shower. There are two additional bedrooms and one more full bathroom upstairs.

Outside this home you will find a private fenced back yard with patio perfect for outdoor dining and relaxing by the fire pit. There is also a one car garage perfect for car storage or to set up as a workshop.

Autumn Cove is located right across the street from Crowders Creek Elementary School on the Lake Wylie Road peninsula. This means that you are close to the Buster Boyd Bridge right in the heart of Lake Wylie. Residents can enjoy the outdoor community pool, playground, and walking trails.

If you would like to schedule a private tour of this home or any other home in the Lake Wylie area, give us a call at 803-831-8588. You can view additional details on this home here and view all current listings and create custom searches on our website here.

Explore Golden Pond

Picture yourself living in a great neighborhood close to Lake Wylie with a private pond, and oversized lots with tons of privacy. Sound good, then you need to check out Golden Pond. This pocket neighborhood is located off of Hands Mill Highway on the South Carolina side of the lake.

From Golden Pond, you can get to Charlotte Highway 49 in just a few minutes so you can have a quick commute in to Uptown Charlotte and Rock Hill. This also connects you to the lake to enjoy watersports, as well as into the town of Lake Wylie for shopping, dining, and community gatherings.

The homes in Golden Pond are varied and range from ranch style to double wide homes. Homes were built in the late 1990’s and typically have 3-4 bedrooms, 2-4 bathrooms, and around 1,200 to 2,000 square feet. Many of the homes have multiple outbuildings for storage, parking, workshops, second living quarters and more. Some of the homes have great features to enjoy the wildlife such as decks, patios, and sunrooms. There are even a few with pools, either in-ground or above-ground. There is no homeowner’s association so you can be as active or inactive in the community as suits your needs.

Homes in Golden Pond sell quickly, in the last year only four homes sold in a range of 0 to 12 days on the market before they went under contract. These homes sold for between $123,000 and $164,000 so they are a great value due to the location and size of lots.

If you are interested in a home in Golden Pond, call us at 803-831-8588. We will let you know as soon as one comes on the market. You can view current listings and create custom searches on our website here.