lake wylie real estate

November Market Report – Greater Lake Wylie Area

December 14, 2022 by lkw_df Leave a Comment

The real estate market in the Charlotte area is seeing a rise in inventory, but have not yet seen a corresponding fall in prices. The homes that are for sale are staying on the market longer before going under contract, and are now averaging 95.7% of list price received. This is down 4.5% from 100.2% at this time last year. What this means is that we are seeing fewer homes receiving multiple offers and homes are no longer expecting to sell for above list price. This is a great relief for buyers.

When you look at the numbers for the Greater Lake Wylie Area, you see most of the same trend. We are seeing a rise in inventory, from 149 homes for sale last November to 185 homes this November representing an increase of 24.2%.

Homes are staying on the market longer before going under contract. Last November they averaged 21 days, but this November we are sitting at 37 days. This can feel like an agonizingly long time to sellers who were used to the crazy market we saw last year, but homes are still selling even with higher interest rates on loans.

Homes are selling for less than list price on average. Last November, we were seeing many multiple offer situations driving prices to an average of 100.8% of list price. This November we are seeing fewer homes getting multiple offers and the average is now 94.5%. This can mean a big savings for buyers as a $500,000 home could have cost them $504,000 last year could cost only $472,500 this year, a savings of $31,500.

Prices however are still climbing, with the average year-to-date up 19.3% from last year. This increase was from $495,143 last year up to $590,523 this year, or an increase of $95,380. This still puts sellers in a great position even if they are not getting above list price, they are still selling their homes for more money overall.

For more information about the real estate market 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.

Neighborhood Spotlight: Chateau

December 8, 2022 by lkw_df Leave a Comment

The work Chateau evokes visions of elegance and that’s just what you will find in the Chateau neighborhood in the Steele Creek area near the shores of Lake Wylie. Builder Lennar Homes if offering two distinct single family home collections as well as townhomes. Homes have moderate price points, and are conveniently located near shopping, dining, and highway access.

Located off Smith Road, Chateau is walking distance to River Gate Elementary school. This family friendly neighborhood features resort style amenities including a clubhouse, swimming pool with splash zone for smaller children. There are tennis courts, and sidewalks connecting to walking trails perfect for a morning run, dog walk, or bike ride. There is also a playground and neighborhood events throughout the year to foster the community.

Homes in Chateau are divided between the Traditions and Enclave sections. These homes have open concept floor plans, sumptuous primary suits, and second floor laundry facilities. They range from 2,205 to 4,734 square feet with 4 to 6 bedrooms and 2.5 to 5.5 bathrooms. There are 13 plans to choose from, but they can be customized to make them work perfectly for your family.

In the past year, seven townhomes sold in Chateau for a range between $339,999 and $436,759. Thirty nine detached single-family homes sold for a range between $387,000 and $615,000. There are currently 19 townhomes and 14 single family homes for sale in Chateau. Many of these are new construction homes, but there are a few existing homes listed for sale.

To schedule a private tour of a home in Chateau or 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.

Neighborhood Spotlight: Carolina Coves Lake Wylie

December 2, 2022 by lkw_df Leave a Comment

There are currently no homes for sale in Carolina Coves, but if you want to get in on this luxurious neighborhood, you need to plan ahead and be ready when one comes on the market. You should have a couple of months as many people wait until spring time to list homes so they are clear of the holidays and close to the end of the school year. In the meantime, as a buyer, the best thing you can do is get pre-qualified for a loan, and start working with your Realtor so you can be ready as soon as the home of your dreams is listed for sale.

Carolina Coves are located off Pole Branch Road, just down the road from Daniel Stowe Botanical Gardens. The neighborhood is on the South Carolina side of Lake Wylie and is zoned for award winning Clover schools. This great location is close to everything you need, yet is in a picturesque and serene setting. The neighborhood features walking trails and green space to relax at the end of the day.

Homes in Carolina Coves are generously proportioned with most homes well over 3,000 square feet with some homes over double that. Most homes have at least 4 bedrooms and up to 6 full bathrooms. Features of these homes include salt water pools, three car garages, butler’s pantries, gourmet kitchens, custom millwork, and spa-like bathrooms.

In the past year, just one home sold in Carolina Coves showing that when people get one of these amazing homes, they don’t want to leave it. This one was a custom new construction home with 3,224 square feet, 4 bedrooms, 4 bathrooms, and a 3 car garage that sold for $830,000. Homes have sold in the past two years for an average price of just over $800,000 with an average price per square foot of $180.

For more information Carolina Coves or to start the buying process for 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.

Neighborhood Spotlight: River Lake Lake Wylie, Tega Cay

November 11, 2022 by lkw_df Leave a Comment

In the heart of Tega Cay, set right on the banks of Lake Wylie sits a great neighborhood called River Lake. Many of the homes have lake frontage, and even more have lake views so you can enjoy the water year round.

River Lake is tucked away from the main channel of Lake Wylie so it is not as busy. It is close to Catawba Park, Catawba Soccer Ground, and the Lake Wylie Dam with river access. Residents can easily access shopping and dining options, as well as get quickly to the highway for a commute or just a trip into the city.

The community has few amenities, but there are sidewalks, and the streets are lit. You can go into Fort Mill for any of the amenities you are lacking from not being in a large development, and with the money you save from not having a homeowner’s association, you can join anywhere else you like, or just save that money.

Homes in River Lake were built between 1996 and 2020 and are all brick custom homes. Many of the homes have great views of the lake from multiple rooms, and outdoor living spaces to enjoy the view.

In the past year, just one home sold in River Lake. It was a 5 bedroom, 3 full bath home with a 3 car garage and 2,763 square feet. It sold after just 12 days on the market. There is currently one home listed for sale in River Lake. It is a waterfront premium lot with 5 bedrooms, 5.5 bathrooms, a 3 car garage, and 6,261 square feet. It went under contract after just 1 day on the market. List price for this amazing home is $1,725,000.

If you want to know more about River Lake 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.

Featured Listing: 6 Crowders Ridge River Hills Lake Wylie

October 24, 2022 by lkw_df Leave a Comment

Have you always wanted to live in River Hills, but just haven’t found the perfect home? Look no further. Our new listing at 6 Crowders Ridge is the one you have been waiting for! The home was custom built in 2018 with incredible attention to detail & function. You won’t find another home like this in River Hills!

Inside this immaculate home you’ll find 10 foot ceilings and an open floor plan that give this energy efficient dream home a much larger feel than the heated living area shows! The kitchen has an incredible Brazilian granite island, double oven, farmhouse sink, 6-burner gas top, enclosed coffee station, stacked soft-close cabinets, quartz counters, marble backsplash and glass deco panel. The kitchen is open to the great room and features a linear fireplace with stacked slate surround.

The primary bedroom has access to the screened-in porch bringing the outside to the inside. The primary bathroom is a dream! It even has a walk-in cave shower, heated towel rack, under head runway lights, appliance drawer with outlets with USB and custom cut mirrors with sconces.

Throughout the home you will find California Closet Systems, surround sound, 3-zone HVAC, ultraviolet and dehumidifying systems, guest suites with double insulation (Quiet!), slate accent walls, oversized 3-car garage w/ epoxy, upgraded electric panels, Holiday light outlets are already installed outside ready for your decorations.

If you want to know more about buying this home or about buying and selling any other 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.

To see the full listing for this home, click here.

Neighborhood Spotlight: Due West Heights Lake Wylie

October 3, 2022 by lkw_df Leave a Comment

Knotts Builders is at it again, they are building a beautiful new construction neighborhood in Steele Creek in Charlotte, North Carolina near Lake Wylie. Due West Heights is located to the southwest of the city of Charlotte next to The Palisades Country Club. This great location has residents close to everything they need, hospital, grocery stores, shopping, dining, and the Steele Creek Library.

Currently children in the neighborhood are zoned to Palisades Park Elementary School, Southwest Middle School, and Olympic High School. However, in the fall, they will feed to the new Olympic Relief High School set to open for the new school year. This new school is located right next to Palisades Park Elementary School.

Homes in Due West Heights are all single family homes with 3-5 bedrooms, 2.5-3.5 bathrooms and 2700-3800 square feet of living space. Each has a 2 or more car garage, and outdoor living areas in the form of a deck or patio or covered porch in the rear, some with built in outdoor fireplaces. Floor plans are open and inviting, perfect for entertaining or for working from home. Many homes have loft spaces or bonus bedrooms perfect for an office, home gym, or media room.

No homes have sold yet in Due West Heights, but there are three homes currently listed for sale with two of the three already under contract. These home prices start in the $600,000s and include modern farmhouse detailing and gourmet kitchens. You don’t want to miss out on one of these spectacular homes.

If you want to know more about Due West Heights 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.

August Market Report

September 12, 2022 by lkw_df Leave a Comment

This month, we are starting to see some more signs of the Real Estate market slowing down somewhat. For the first time in months, we are starting to see homes sell for a little bit less than list price. The average home sold for 98.5% of list price. These prices are still higher than last year by 16.3% representing $62,315 more this year than last. We are also starting to see homes stay on the market for longer with the average home going under after 19 days on the market. Inventory has also gone up with a 1.5 month supply of homes on the market which is 1,381 more homes than last August.

When you look at this data, from the Canopy Realtor Association, just for the Lake Wylie area, you see that the numbers reflect the same trend that the Charlotte Region shows. The average sales price is up to $613,732, up 17.5% year over year. These homes are selling for an average of 99% of list price and are going under contract in an average of 17 days after listing. Lake Wylie now has a 1.5 month supply of homes or 181 homes on the market, up 7.1% from 169 homes last August.

New listings, pending sales, and closed sales are all down from last August. This is likely a result of inflation and rising interest rates. The full effects of which we will likely see over the next few months. We will likely see inventory rising still higher, but prices could take a long time to come down if they do at all.

If you want to know more 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.

May Market Report – Greater Lake Wylie Area

June 24, 2022 by lkw_df Leave a Comment

Canopy Realtor Association has released the monthly numbers from the Canopy Multiple Listing Service. According to the report, the big story is that sales are down, and pending sales are also down for the Charlotte Region. This means lower sales volume this month and the expectation of lower sales volume next month as fewer sales are expected to close. This signals a cool down of the market, largely driven by rising interest rates for loans and higher prices for homes.

Inventory of homes is still below one month of supply, and we are seeing more homes sell above list price than in the past few months with the average sale commanding 102.9% of list price. This means that we have not seen the recovery in the market we expected, but new listings were up 4.4% as some sellers are worried they will miss out on the action of the current market.

When you look at just the numbers for the Greater Lake Wylie area, you see that sales are down 21%, pending sales are down 21.7%, and new listings have not had the resurgence of the Charlotte area as a whole as they are down 11.7%. Please keep in mind that the small sample size can make the data seem extreme.

Prices are still on the rise in Lake Wylie with the average sale price up to $600,717 in May. This is up 15.9% from May of 2021. Homes are selling for an average of 102.4% of list price and are going under contract in about 17 days on average with closing in 109 days after listing on average.

What does that mean for you as a buyer or a seller? As a buyer, it means that homes are out there, but you might need to wait until the perfect home is listed which could mean that you will have a higher interest rate as the Federal Reserve keeps raising the benchmark rate. As a seller, it means that there could be lots of buyers for your home, but as interest rates rise, your home might be on the market for a longer time before a sale.

If you want to know more about the market conditions in Lake Wylie, call us at 803-831-8588. You can view current listings and create custom searches on our website here.