lake wylie real estate

January Market Report

February 15, 2021 by lkw_df Leave a Comment

Well, as expected, the market has gotten even tighter before hopefully a spring thaw. There is now just a 0.7 month supply of homes on the market in the entire Charlotte region, or 3,370 homes. Prices are still on the rise as well with the median home price up 12.9% from last year to $285,000. The average price is up 13.6% to just under $340,000. They are selling quickly as well, with the average days on market before a sale at 26. Listing to closing is happening in an average of 83 days, down 17% from 100 days last January.

When you look at the Lake Wylie numbers, you see the same trend. There are only 118 homes on the market representing a 0.8 month supply of homes. This is down 66.9% from the 357 homes on the market last year at this time.

Homes are selling quickly here as well with the average of 31 days on the market before a sale. This includes new construction homes which are hard to come by as well right now.

Prices are climbing in Lake Wylie with the average sale price up to $415,785 in January. Homes are, on average, selling for 99.1% of their list price as well. This means that buyers can’t expect any kind of discount and in many cases we are seeing multiple offers on a home and sales prices above list price.

Closed sales and pending sales are up year over year. 104 sales closed in January 2021, up 48.6% from 70 sales last January. 187 homes were pending this January versus the 117 last January, up 59.8%.

New listings however, are not keeping up with demand. Even being up 3.8% over last January, demand is far outstriping supply. Analysts are predicting a rise in supply when people who have stayed in their homes during the pandemic will list this spring.

If you are considering buying a home, the time to get prepared is now. Getting pre-approved for a loan is a great first step. The time to start looking is also right now. Homes are selling quickly with lots of interest on each listing.

Call us at 803-831-8588 to get started. Even new construction has waitlists so the time to start is now. Visit our website to see current listings and create custom searches.

Numbers are from the Canopy Realtor Association monthly report covering 12 counties in North Carolina and 4 counties in South Carolina.

Neighborhood Spotlight: Regency at Palisades

February 11, 2021 by lkw_df Leave a Comment

If you are looking for a low maintenance luxurious existence, Regency at Palisades is perfect for you. This amazing 1,500 acre master planned Toll Brothers neighborhood has everything you are looking for and more. Lakeside living with resort style amenities at their finest, all within 30 minutes of Uptown Charlotte or Charlotte Douglas International Airport.

Amenities are extensive in Regency at Palisades. There is a lifestyle director who can help you take advantage of everything they have to offer. From the clubhouse with a full calendar of activities, to the indoor and outdoor pools, bocce courts, tennis courts, pickleball courts, walking trails, spa, billiards and game room and much more, there is something to entice every resident.

Homes in Regency at Palisades all have owner’s suites on the first floor and there are 8 different floor plans to choose from. Each can be customized to fit your family’s particular needs. Homes have between 2 and 5 bedrooms and 3-5 bathrooms. They start at an easy to care for 1,700 square feet but can be upwards of 3,700 square feet. In the past year, homes sold for a range between $392,000 and $671,000 with the average price coming in at $523,000. There are currently 50 homes on the market with only two of them not already under contract. This popular area has homes going quickly so be sure to act fast.

For more information on a quick move-in home or customizing and building a home in Regency at Palisades or any other neighborhood 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.

Neighborhood Spotlight: Reserve at North Reach

February 9, 2021 by lkw_df Leave a Comment

With low inventory plaguing the market right now, many people are looking to new construction for the home of their dreams. Reserve at North Reach is one of these great new construction neighborhoods that could have the home for you. It has great houses in Lake Wylie on spacious home sites.

Reserve at North Reach is located on the North Carolina side of the Buster Boyd Bridge just across the highway from McDowell Nature Preserve. This puts residents close to the heart of Lake Wylie, but also close to shopping and dining options in Rivergate. There is nearby highway access to get you quickly to the airport or Uptown Charlotte.

Homes in Reserve at North Reach are large with 2,929 to 3,814 square feet of living space. They have flexible floor plans with 4-6 bedrooms, 2-5 full bathrooms and one full bathroom. These two story homes have two car garages, open concept floor plans, large kitchen islands and expansive counter space. Some homes have screened in porches, home offices, and a variety of exterior facade details to make each home unique.

Prices for these Taylor Morrison homes start in the low $400’s. For more information on a quick move-in home or customizing and building a home in Reserve at North Reach or any other neighborhood 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.

9 Sunrise Point Lane Dream Home

February 4, 2021 by lkw_df Leave a Comment

Life is better on the lake!!! 9 Sunrise Point Lane is proof of this. This custom McSpadden “smart” home sits on a private peninsula in the coveted, gated, country club community of River Hills. The house is zoned for award-winning Clover schools, but has low South Carolina taxes. There are almost too many features to mention, but we’ll give it a try.

This immaculate home features over 7,000 square feet of living space and is truly an entertainers dream. There are 5 bedrooms and 7 bathrooms, 5 full baths and 2 half-baths giving plenty of space for your family and guests to enjoy the lake.

There are too many features to list in this one-of-a-kind home, but here’s a partial list:

3 car garage with workshop with dust collection and air filtration systems
TimberTech dock with covered boat lift and wave runner ramps
Exercise area with sauna and full bathroom
Salt water pool with waterfall and spa
Lake views from each room
Home office with dual work areas and custom cabinetry
Chef’s kitchen with professional grade appliances and 11 foot granite island with walnut inlay
3-stop elevator
Gameroom and wet bar

Built in 2008, this home has all of the modern features you want, and all of the luxurious appointments you desire. This entertainer’s dream home can be yours, but don’t delay or you could miss it.

For more information or to schedule a private tour of this or any other home in the Lake Wylie area, call us at 803-831-8588. To view the full listing click here. You can view current listings and create custom searches on our website here.

Important Information for Buying Lake Property

January 13, 2021 by lkw_df Leave a Comment

The Charlotte Business Journal recently published an article entitled “What to consider when buying lakefront property in the Charlotte area”. This is a great reminder of all that goes into a lake purchase that may not apply to properties not on the waterfront. This is especially important when there is not much inventory so homes are selling quickly. This means that you have less time to make important decisions so you want to make sure you have considered every angle.

Price is first and probably most important. Main channel properties which typically have the best views, command a premium on price, even over other lakefront properties. Cove properties typically have less boat traffic so that can be a consideration for buyers as well.
Riparian Buffer – this is a 50-foot buffer from the water that has to remain in a vegetated state. This is mostly to counteract erosion and protect animal habitats. Property owners cannot remove trees on the first 30 feet and there are minimal changes that are allowed by law.
Docks and Boathouses – there are many properties that already have a dock or boathouse, but this does not mean that you can build one on your new property. There is a permitting process through Duke Energy and only homeowners are allowed to apply for a permit. This means that if a dock is a must have for you, you can ask a current homeowner to apply for a permit as a condition of a sale. Boathouses are typically grandfathered in and have regulations of upgrading, typically limited to fixing but not over-improving.
Insurance can be a factor as well. You need to make sure your policy covers your property as well as watercraft and retaining walls if they are present. This is an additional consideration that you typically don’t have if you don’t have a waterfront property.

There can be many additional steps in the process of lakefront homes and having the best representation on your side is essential. If you are interested in purchasing a lakefront property, let one of our experts help you navigate the process. Call us at 803-831-8588. You can view current listings and create custom searches on our website here.

To read more, check out the full article in the Charlotte Business Journal here.

Neighborhood Spotlight: Woodland Bay Waterfront Community

January 6, 2021 by lkw_df Leave a Comment

Located on the South Point Peninsula of Lake Wylie, Woodland Bay is an exclusive gated waterfront community perfect for your next home. Woodland Bay is located zoned for highly coveted schools, and is on one of the most tranquil and unspoiled parts of Lake Wylie.

Woodland Bay is located off NC highway 273, just across the road from Daniel Stowe Botanical Gardens. The neighborhood keeps the character and natural beauty of the botanical gardens. It is heavily wooded with rolling terrain and plenty of privacy.

The original developer of Woodland Bay was Crescent Resources, a premium designer of upscale, restricted neighborhoods. There are now many custom builders in the neighborhood ready to help you build your dream house.

Homes have already been built but there are lots available so you can customize a home to suit your particular needs. There are waterfront properties as well as more secluded interior properties and all lots have mature trees and are large enough to have outdoor living spaces and still have privacy from the neighbors.

Homes in Woodland bay have all the bells and whistles. Many homes have home gyms, firepits, gourmet kitchens, fully finished basements, home offices and much more. In the last year just two homes and two lots changed owners. Waterfront lots command a premium but with main channel views for many properties, they are worth it. Lots typically range from ¾ of an acre to almost 2 acres. Homes are typically between 3,000 and 5,000+ square feet of living space. The average home sells for between $800,000 and $2.3 million depending on size and location.

There are currently 4 homes and 4 lots for sale in Woodland Bay with one lot under contract. If you are interested in learning more about one of these great properties in Woodland Bay or any other home in the Lake Wylie area, give us a call at 803-831-8588. You can view current listings and create a custom search on our website here.

Neighborhood Spotlight: Tullamore

December 28, 2020 by lkw_df Leave a Comment

Picturesque Tullamore is a great neighborhood to consider for your next family home. Tullamore is located minutes from the state line with easy access to Lake Wylie and downtown Clover. It is a quick trip into Uptown Charlotte via nearby access to I-85. A trip to Charlotte Douglas International Airport is also convenient.

Residents of Tullamore enjoy lower South Carolina taxes, but are zoned to desirable Clover schools. The neighborhood boasts a playground and picnic area. McDowell Nature Preserve is just minutes away, as is Daniel Stowe Botanical Garden.

Tullamore is comprised of stately brick homes with open floor plans and great features. Most homes have a range of 4-6 bedrooms and 2.5-4 baths and most have over 3,000 square feet of living space. Homes have great storage, and chef’s kitchens. Many have amazing outdoor living spaces and some have full basements for extra living space for home offices, home gyms, school rooms, play rooms and more.

There is currently one home on the market in Tullamore which represents 0.9 months of inventory. This means that Tullamore like most of the Lake Wylie area is currently a seller’s market especially compared to the clover district and York county as a whole. Both of them are slightly more balanced, but are at 2.6 and 2.4 months of inventory which is well below the 4-6 months of inventory that generally represents a balanced market.

In the last year, homes sold between $287,500 and $490,000 with the average sales price coming in at $377,661.

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

A Look Ahead

December 5, 2020 by lkw_df Leave a Comment

The real estate market has been booming lately in the Charlotte region. Supply is low and demand is high. Interest rates are low spurring many people to enter the market. The pandemic shifted the market moving the spring surge into the summer and early fall instead. So what comes next?

With interest rates so low, first time homebuyers are driving much of the demand in the market right now. In a typical year first time homebuyers represent around 30% of the market. Right now, they represent 38% of the market. If interest rates remain low, they could keep driving growth, but if they rise, we may see many buyers drop out of the market for now.

Supply remains low, but we are already seeing the first indications of a slow down in the market. Condos are staying on the market a few days longer on average which is typically the first indicator of a slow down. We may next see this trend in townhomes, then eventually to single-family homes.

Many people have stayed in their homes during the first months of Covid and may list their homes next spring. If this happens, we could see a larger than usual spring season with fewer buyers for more homes. This could balance the market somewhat as we have had historically low inventory.

The thing to remember is that people always need homes, and the population in the Charlotte region is still growing so our market is likely to stay healthy for years to come. 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 view current listings and create a custom search on our website here.