Lake Wylie Realty 803-831-8588
Your #1 Source For Lake Wylie Real Estate Information
Waterfront Home values continue to rise along with inventory which is something you don’t see very often in the Real Estate Market, Average Home prices are in excess of 1.7 Million Dollars
Strong demand has cooled a bit and Homes are selling below the 50 day mark with inventory around 80 Homes for sale. Overall it’s a pretty balanced market,
If your interested in Buying or Selling give the Pro’s a call.
The trend of the last few months is persisting in the Charlotte Region at the moment and homes are staying on the market longer before a sale while selling for a little bit less than list price. This shows that sellers are willing to make concessions which is not something we were seeing last year at this time.
In addition to the longer time on the market, there are more homes on the market giving buyers more choices than they have had in a long time. There are now 4,667 homes listed for sale, up to a 1.3 month supply of inventory. This is a far cry from the 4-6 month supply which signals a balanced market between buyers and sellers. This means that we are still in the persisting sellers market.
From this same report from the Canopy Realtor Association, you can see data for the Lake Wylie area. When you look into the numbers, you see some of the same trends. Homes are staying on the market for an average of 41 days before going under contract. This is up 141.2% from the 17 day average last May.
Prices seem to be holding steady in Lake Wylie. Average sales prices are down just 0.1% to $604,508. Sellers are still getting an average of 98.6% of list price from their homes. We are seeing a slowdown in the market, which typically happens during the summer months, but didn’t happen last year in the frenzy of sales before this slowdown.
This slowdown doesn’t mean that now is a bad time to list your home. It just means that you have to be prepared that it could take a month or more before you get a contract on your home instead of getting multiple offers the first day.
If you are curious about what your home is worth or if it’s a good time for you to buy, give us a call at 803-831-8588. We would love to share our perspective on Lake Wylie and the Charlotte area. You can view current listings and create custom searches on our website here.
If you are looking for a waterfront community on Lake Wylie, take a look at Masons Crossing. This neighborhood is zoned for highly desirable Clover schools, has lower South Carolina taxes, and has stunning views of the lake.
Masons Crossing is located off of Lake Wylie Road in the Crowders Creek section of Lake Wylie. Highway 49 is very close so you can easily connect to the town of Lake Wylie for shopping, dining, and community events. Across the bridge, you have even more options in Rivergate. A Charlotte commute is pretty reasonable, but most of these homes have home offices so working from home is a pleasure.
Homes in Masons Crossing are grand in scale and sit on estate sized lots. All of the homes are custom built with amazing and unique features. Waterfront lots will command a premium when and if they ever come up for sale. The interior lots have amazing old growth trees and plenty of privacy making them a retreat. Homes range between 2,500 to 7,300 square feet of living space and typically have between 3 and 5 bedrooms and 3 full and 1 half bath to 5 full and 2 half baths. Expect soaring ceilings, custom storage, gourmet kitchens, and spa-like primary retreats.
In the last year, just one home sold in Masons Crossing. There is currently one home listed for sale and it went under contract in the first month of being listed. This means that you have to be ready as soon as one of these gems is ready to list so you can be the first one with an offer. We can help you through that entire process.
If you are curious about what your home is worth or if it’s a good time for you to buy, give us a call at 803-831-8588. We would love to share our perspective on Lake Wylie and the Charlotte area. You can view current listings and create custom searches on our website here.
If you are looking for a neighborhood zoned for amazing Clover schools, but you want to be close to Lake Wylie, check out Southwoods. This great neighborhood has smaller homes on good sized lots, with extremely reasonable price tags. These homes typically sell quickly so you have to be ready when one comes on the market.
If you are coming into Lake Wylie across the Buster Boyd Bridge on 49, take state highway 274 North. Southwoods is located on your left just a couple of miles past Pole Branch Road. This great location has you close to town, but far enough away that it’s nice and quiet. Residents are close to shopping, dining, and entertainment in Belmont, and Lake Wylie. A little bit further away you will have many options for larger shops and restaurants as well as highway access for an Uptown commute or just a trip into the city.
Originally built in the late 1980’s and early 1990’s, Southwoods homes are typically ranch style, and many have been updated and expanded since they were first built. The average home has 2 to 3 bedrooms and 2 bathrooms with 1,000 to 1,500 square feet of living space. Lots are between a fifth of an acre and a half acre in size.
In the past year, just three homes changed owners in Southwoods. Each home went under contract in 5 days or less. Prices ranged from $165,000 to $197,000. There is currently one home listed for sale in Southwoods, and it went under contract after just one day on the market. Because they sell so quickly, you have to be ready as soon as one of these great homes is offered for sale. Call us at 803-831-8588 and we can help you get all the paperwork done so you are ready to make your best offer.
If you are curious about what your home is worth or if it’s a good time for you to buy, give us a call at 803-831-8588. We would love to share our perspective on Lake Wylie and the Charlotte area. You can view current listings and create custom searches on our website here.
If the busyness of Lake Wylie is too much for you, there are some great neighborhoods with private ponds in the area. Lakedale is one of these. Lakedale has great homes on large lots, reasonable prices, and feeds to top rated Clover schools. With a South Carolina address, Lakedale also enjoys lower taxes than their North Carolina neighbors.
Located just North of the intersection of Highway 274 and Pole Branch Road, Lakedale is close to everything you need. There are great restaurants nearby as well as shopping, churches, schools, and entertainment. Nearby highway access will connect you quickly with Uptown Charlotte as well as Charlotte Douglas International Airport.
Homes in Lakedale are mostly ranch style with two or three bedrooms and at least 2 bathrooms. Many have garages or outbuildings for workshops, extra parking, or gazebos for enjoying the outdoors. While the pond is not large enough for big boats, residents can kayak, fish, or swim to relax on the water.
Homes in Lakedale don’t come on the market very often. In the last year, just one home and one lot were offered for sale and subsequently sold. Both sold in less than 4 days on the market. There is currently one lot for sale that is already under contract. There is also a home that is coming soon to be offered for sale. The lots typically sell for between $100,000 and $150,000 depending on size and features. Existing homes typically sell for under $300,000 depending on size of lot, size of the home, and if they have direct access to the pond.
If you are curious about what your home is worth or if it’s a good time for you to buy, give us a call at 803-831-8588. We would love to share our perspective on Lake Wylie and the Charlotte area. You can view current listings and create custom searches on our website here.
Have you always wanted a patio home, but also want a large private lot? Look no further than 2 Five Oaks Lane in River Hills. This new listing has everything you have been looking for as well as an expansive back deck perfect for entertaining friends and family in your own private wooded setting.
River Hills is a wonderful gated community with a golf course, a playground, recreation area, security, tennis courts, and walking trails. There is 24/7 security with a manned gatehouse. Horses from nearby YMCA Camp Thunderbird are a common sight and there are posted crossing locations just outside the neighborhood. There is a dog park, community garden, and a beach park. For an additional cost, you can join the marina club or the country club or both.
Located just across the Buster Boyd Bridge on the South Carolina side of Lake Wylie, River Hills is in easy commuting distance from Charlote, North Carolina. Residents enjoy lower South Carolina taxes, yet still feed to top rated Clover schools. There are many nearby options for shopping, dining, and services nearby.
This home at 2 Five Oaks Lane features a basement lot with two bedrooms and a bathroom on the lower level. The main level features the primary bedroom with walk-in closet and updated walk-in shower. The spacious living space brings in lots of natural light and highlights the fireplace. The dining room opens to the deck for indoor/outdoor dining and entertaining.
Full disclosure, this home is owned by one of our own agents, and we can work with you or you and your agent to make a smooth transition for you to own this amazing home.
For information about touring this home or about buying and selling homes in the Lake Wylie Area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.
The numbers are in, published by the Canopy Realtor Association. Once again, the Charlotte Region is seeing prices continue to climb as we are finally getting more inventory back on the market. The average home price was up 7.3% in December to $436,920. Inventory was up a staggering 54% from 4,206 homes for sale last December to 6,479 this December. This means that buyers have more choices, but they will still pay more as prices don’t seem like they are going to fall anytime soon. There are still discounts to be had however as the average home is now selling for 94.7% of list price instead of 100.2% of list price like last December.
When you look at the numbers for the Lake Wylie area, you see that there is definitely more inventory, 148 homes for sale compared to 126 last December, an increase of 17.5%. Prices however have gone down slightly from $568,701 last December to $548,539 this December. This decrease of just over $20,000 could be caused by just a waterfront property or two due to the small sample size. We’ll need to see the numbers going forward before we declare a price decrease trend.
One trend we can state for sure is that homes are spending more time on the market than last year before a sale. 52 days on average this year as opposed to 32 days last year during the height of the frenzy. This 62.5% increase is largely due to higher interest rates and the rise in prices. This has provided many more options for buyers and helped them so they don’t have to rush into such a big decision.
Buyers are paying on average 95.3% of list price so they are not having to make the types of concessions we were seeing last year. Buyers need no longer offer to skip inspections or appraisals. This brings more equality to contracts so buyers have more power and sellers don’t hold all the cards.
For information about buying and selling homes in the Lake Wylie Area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.
For many parts of the country, we have seen prices go up with no end in sight to the growth. Charlotte has been one of the cities where we have seen consistent growth in prices for homes. This growth has been fueled in recent years by lack of supply of homes. With fewer homes available and more people moving to the area, we were at a critical point where homes were seeing multiple offers for over list price and buyers foregoing inspections and more to win contracts.
Experts are saying that many parts of the country are due for a correction. This would stabilize the market and keep consumer confidence high. But, those experts are saying that the Charlotte market won’t see a dramatic price decline that other places may see. This retention of prices is great for sellers, but will continue to stretch buyers. For people staying put, it can stretch them when it comes time for tax reassessments.
Existing home sales have been falling nationwide for the past nine months. The trend we are seeing in the Charlotte area is that pending home sales have declined. This shows buyer demand has slowed. Homes are staying on the market longer before going under contract. There is also more inventory of homes for sale.
These conditions usually coincide with prices coming down, but they are still rising in the area. In fact, the Canopy Realtor Association reports that the median sales price grew 16.9% up from $325,000 to $379,990 when you compare January through November of 2021 to the same period in 2022.
Job growth in the region should keep the area desirable, but with more inventory of homes for sale, buyers don’t just have to get the first home available, and they are less likely to lose out on homes due to multiple offers. Hopefully inventory will continue to rise and a price correction could follow.
For more information about buying and selling homes in the Lake Wylie Area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.
