lake wylie real estate

June Market Report

July 17, 2019 by lkw_df Leave a Comment

Home prices are still on the rise in the Charlotte area. This is in contrast with the rest of the nation where there has been a cool down in prices. This information was published by Case-Shiller from their S&P CoreLogic Report. It’s hard to know how long prices can go up, but they don’t appear to be stopping yet. This can be a boon to sellers, but can spell trouble for buyers who can get priced out of the market.

The Carolina Regional Realtor Association published numbers for June based on data from the Multiple Listing Services, Inc. Based on their data, average sales prices in the Charlotte region were up 7.1% year over year from $302,011 to $323,316. When you look at year to date number, they are also up 4.3% from $287,358 up to $299,703.

The Charlotte region also had a dip in sales, decline in inventory, and a slight decline in new listings. Pending listings were up 16.3% so there is hope that there will be strong sales numbers next month as many of the pending listings head to the closing table.

When you look at the numbers for Lake Wylie, average sales prices were up 3.9% from $382,553 to $397,428. Pending sales and new listings were both up, 25.9% and 14.5% respectively. This indicates that Lake Wylie sales are still strong despite lower inventory, down to just a 3.5 month supply.

Closed sales for homes in Lake Wylie were just about level with last year at the same time. Homes are selling more quickly than last year at this time. In June of 2018, homes were on the market for an average of 113 days from listing to closing. In June of 2019, homes were on the market for an average of 108 days from listing to closing, a decline of 4.4%. These homes spend an average of 58 days on the market before they were under contract.

If you are in the market to buy or sell a home in the Lake Wylie area, give us a call at 803-831-8588. If you would like to view current listings and create custom searches, click here.

Neighborhood Spotlight: Patriots Crossing

July 16, 2019 by lkw_df Leave a Comment

Patriots Crossing is a tiny little spot that should loom large on your radar. Just three streets comprise this neighborhood, but they are full of amazing homes that rarely come on the market.

Homes in Patriots Crossing have large estate sized lots with each lot coming in at or over 1 acre. Homes were built in the early 2000’s and many of them show as brand new. They have large floor plans with plenty of storage as well as flex spaces, home offices, gourmet kitchens, and outdoor living areas.

Another major draw for the neighborhood is the public schools. Homes in Patriots Crossing are currently zoned for highly desirable and award winning Clover Schools. This coupled with lower South Carolina taxes make this a great location for families.

Patriots Crossing is located just north on Highway 274 from Highway 49. This great spot is close to Daniel Stowe Botanical Gardens as well as great spots for shopping and dining. Public boat ramps are close by so you can enjoy the full Lake lifestyle as well. A trip to Uptown Charlotte is a breeze as is one to Charlotte Douglas International Airport.

Just one home sold in the last year in Patriots Crossing. It was only on the market for less than 60 days before going under contract. That home has 4 bedrooms, 4 full bathrooms, and over 3,000 square feet of living space. This stunning home has the flexibility to have either a first floor office, or guest suite with full bathroom, and sold for $365,000.

If you are interested in a home in Patriots Crossing or any other Lake Wylie neighborhood, give us a call at 803-831-8588. You can create custom searches and view current listings on our website here.

Explore Harpers Mill

July 10, 2019 by lkw_df Leave a Comment

If you are interested in a townhome in the Lake Wylie area, Harpers Mill is a great place to explore. There are great amenities, lake proximity, nearby options for shopping, dining, and entertainment. All of this within commuting distance to Uptown Charlotte, yet with lower South Carolina taxes and extraordinary Clover schools. No wonder these homes don’t stay on the market long.

Located right off Highway 49, Harpers Mill is just a few minutes away from the Buster Boyd Bridge. This great location is just down the road from public boat ramps for access to the Lake. Residents can walk to shopping and dining options and are also close to River Hills Country Club.

From Harpers Mill, a trip to Uptown Charlotte is just over 20 miles. A trip to Charlotte Douglas International Airport is just over 17 miles. Fort Mill, SC is just over 12 miles, and McDowell Nature Preserve is just across the bridge.

Homes in Harpers Mill come in groupings of four and six homes. End units typically command a premium as they only have one shared wall. Homes have 2-3 bedrooms and 2-2.5 bathrooms and around 1100 to 2000 square feet of living space.

In the past year, 17 homes sold in Harpers Mill with prices ranging from $135,000 to $215,000. This affordable price point is perfect for a starter home or for downsizing from a larger home. There are currently 6 homes for sale in Harpers Mill ranging in price from $147,000 to $219,900.

If you are interested in touring homes in Harpers Mill, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Sunset Ridge

July 10, 2019 by lkw_df Leave a Comment

Rarely does a home in Sunset Ridge come on the market. These homes are truly remarkable and they don’t stay on the market long. They are located right along Lake Wylie Road near Highway 49 in close proximity to shopping, dining, and entertainment. Public boat ramps are just a few miles away. Children attend highly rated Clover Schools and parents pay lower South Carolina taxes.

Homes in Sunset Ridge are custom made and sit on large lots, some approaching two acres. This gives plenty of space for outdoor living including outdoor kitchens, sports courts, pools, firepits, lawn games and much more. Homes are grand in scale with most well over 3,000 square feet of living area. This means plenty of storage, great custom features, and flex spaces sure to please any family.

These homes are right around the corner from the new construction community called The Retreat at Sunset Ridge which is in close-out mode. There is currently only one new construction home left on the market.

In the last year, just two homes sold in Sunset Ridge. They had between 3 and 4 bedrooms and each had 3.5 bathrooms. Both had well over 3,000 square feet of living space and three car garages. One home sold for full list price at $565,000, the other home sold for 99% of the list price of $495,000.

If you are interested in learning more about Sunset Ridge or any other Lake Wylie community, give us a call at 803-831-8588. You can view all current listings and create custom searches on our website here.

Explore Forest Oaks

July 3, 2019 by lkw_df Leave a Comment

If you’re looking for a great family friendly neighborhood near Lake Wylie, South Carolina, look no further than Forest Oaks. This great spot is adjacent to River Hills Country Club and just steps away from the shore. Right down the road is the Buster Boyd Bridge with many shopping and dining options, some even within walking distance. About 5 minutes down the road is public boat access so you can take advantage of the full Lake lifestyle. This location is also perfect for anyone with an Uptown Charlotte commute.

Homes in Forest Oaks were built between 1989 and 2009, with most of the homes built in the early 2000’s. Homes range in size from 1,100 to 2,300 square feet. That makes them the perfect starter size for a small family or for downsizing from a larger home. Homes have 3 to 4 bedrooms and 2 to 3 bathrooms. Yards are small and easy to care for, and exteriors are low maintenance.

In the past year, 22 homes sold in Forest Oaks. This is a great neighborhood to watch closely as there are currently six homes on the market. Prices typically range from $155,000 to $231,000 so these homes are much less expensive than many other areas of Lake Wylie. There is currently a 3.4 month supply of inventory which is compared to a 6.4 month supply in the whole of Lake Wylie. This means that Forest Oaks is currently in a seller’s market.

If you would like a private tour of homes in Forest Oaks, call us at 803-831-8588. You can view current listings on our website here and also create custom searches to help find your perfect next home.

Proposals for Extension of Light Rail

June 27, 2019 by lkw_df Leave a Comment

County leaders for York County recently met to consider proposals for extension of the Lynx light rail system in Charlotte. They heard four small area plan proposals with one potentially serving the Lake Wylie area. This could be great for bringing in commuters and reducing traffic. It could also bring a lot of day-trippers for weekend fun on the lake.

The light rail plan proposals are a way to look at the area in a different way. This means that leaders have to look at how the light rail may affect properties in the proposed path, look at supporting infrastructure, and look at opportunities for how development patterns may change. There is also a potential that the light rail could head to Rock Hill as well which could be a place to park and ride until a Lake Wylie corridor comes to fruition. The Rock Hill connection is especially likely as the Charlotte Panthers just announced that they are building a training facility there.

There are many more steps to take after the proposals are laid out. There are traffic studies, land acquisition, and much more. There will be interstate cooperation by North and South Carolina. There will be funding hurdles and bureaucratic hurdles to be cleared, but it is an exciting prospect for many people.

If you are interested in buying or selling a home in the Lake Wylie area, give us a call at 803-831-8588. To create custom searches and view all current listings, click here.

To read more about these proposals, visit the Herald Online here.

Neighborhood Spotlight: The Coves on River Oaks

June 22, 2019 by lkw_df Leave a Comment

Just two miles North of the Buster Boyd Bridge sits the beautiful neighborhood of The Coves on River Oaks. This fabulous location is home to 160 homes situated within the 250-acre planned development. There is great proximity to the lake with many homes having water views and some with water frontage. There are many options nearby for shopping, dining, and entertainment as well as public boat ramps for water access.

May Green Properties was the developer on The Coves on River Oaks, though homes were built by a variety of custom home builders. This helps each home to feel unique through design, features, building materials, and style. Lots are large, all are over one acre and many over two acres. The large lots accommodate grand homes with most homes in the 3,800-4,900 square foot range.

Homes in The Coves on River Oaks typically have between 4 and 5 bedrooms and 3.5-4.5 bathrooms. Many of these homes have home offices, media rooms, bonus rooms, flex spaces, gourmet kitchens, butlers pantries, and outdoor living spaces including many with private pools.

There are currently 4 homes for sale in The Coves on River Oaks and all are currently under contract. These homes are highly desirable and go under contract quickly. Price ranges for these listings is from $545,000 to $925,000 with the premium price going to a waterfront property. In the past year homes sold for between $515,000 and $679,000 though none was a waterfront listing.

Desirable schools are another draw to The Coves on River Oaks as current zoning is for award winning Clover Schools. Residents also enjoy lower South Carolina taxes. All this and more within commuting distance to Rock Hill, Fort Mill, Gastonia, or Uptown Charlotte.

If you are interested in learning more about The Coves on River Oaks, give us a call at 803-831-8588. You can create custom searches and view current listings on our website here.

To read more about The Coves on River Oaks, click here.

May Market Report

June 12, 2019 by lkw_df Leave a Comment

This month, though the supply of homes on the market has declined in the Charlotte region, there are many other market indicators that have increased. Closed sales, pending sales, and new listings were all up, .5%, 17.3%, and 2.8% respectively. Prices are also up over last year, with the average sales price up 3.4% from $299,723 to $309,859. The total inventory for the region is down 10.1% from 10,506 to 9,443. This means that buyers are competing for just 2.3 months of inventory giving sellers more of the power in transactions. (A balanced market between buyers and sellers is generally a 4-6 month supply of homes.)

When you look at just Lake Wylie, the numbers are a little bit different, however you need to know that the numbers could look skewed due to the small sample size. For instance, the average sales price was down 1.8% year over year, but that could be due to just one waterfront home as they typically command a premium.

Closed sales were up 18.8% over last year, from 112 to 133, a difference of 21 additional sales. New listings were up 2.6%, and pending sales were up a whopping 42.5% from 113 to 161. This is a great indicator that the market is still strong as many of these pending homes will head to the closing table to boost next months closed sales number.

Homes are selling quicker than last year as well with the days from listing to closing down to 103 from 121, a decline of 14.9%. Homes are on the market for an average of 60 days until sale, down from 65 days last May.

These trends are showing no end in sight yet for the current lack of supply and price increases. All of these trends are taken from the monthly report published by the Carolina Regional Realtor Association. The numbers are from the Multiple Listing Services, Inc.

If you are looking to buy or sell a home in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings and create custom searches on our website here.