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.

Climate change is one of the major reasons for hikes in rates. Insurance companies have had to pay out big settlements in places like Florida due to more and worse hurricanes. Homeowners there are paying up to 4 times higher premiums if they can get coverage at all. Wildfires are making premiums rise in California and Colorado as well with some of the major carriers like State Farm and Allstate not writing new policies in those areas.

Reinsurance rate hikes, the type of insurance used by insurance companies to limit their risks has risen by up to 40%. They have been losing money for the past five years so they have to raise rates to cover their losses. These costs have to be shared among the pool of customers causing rates to rise as well.

The increase in frequency and severity of natural disasters means that these costs are not just temporary. Rates are expected to stay high with no reprieve. If you have an escrow account set up as part of your mortgage, you will see your monthly payment go up if your insurance rates rise. If you pay your insurance separately, you should call your agent to make sure you aren’t going to be hit with a much higher bill that you aren’t ready for.

Luckily, the Charlotte region has not had many natural disasters lately. It is rare for a hurricane to hit this far inland, but it has happened before as in the case of Hurricane Hugo. This means that we should see much less significant rate hikes than if we were in a coastal area or wildfire prone area. It is still a good idea to check with your insurance agent to review your policy.

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.

Homes in Sunset Ridge rarely come on the market and when they do, they don’t stay on the market for long before a new family is ready to move in. It’s not hard to see why. This great neighborhood is located along Lake Wylie Road near to Highway 49 in close proximity to shopping, dining, and entertainment. Sunset Ridge is zoned for top rated Clover schools, and there are public boat ramps close by so you can enjoy all that Lake Wylie has to offer.

Homes in Sunset ridge were custom made and sit on large lots, some as large as almost two acres. This means that there is plenty of privacy from neighbors, and there is also room for outdoor living spaces like sports courts, pools, outdoor kitchens, decks, patios, terraces, firepits, and much more.

Inside of these homes you will find 4 or 5 bedrooms, with sumptuous primary suites. Each home has 3.5 to 4.5 bathrooms with spa-like features in the primary. Homes have more than 3,000 square feet and include home offices, flex-spaces, bonus or media rooms, and top of the line appliances. Kitchens are large and open, perfect for entertaining. Most of the homes have three car garages.

In the past year, just one home sold in Sunset Ridge. Homes here are a great value in comparison to the sister neighborhood next door. The Retreat at Sunset Ridge, a newer construction community with water frontage. Homes in The Retreat at Sunset Ridge typically sell for over a million dollars, while Sunset Ridge typically sees prices in the $700’s.

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.

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.

Homes in Clarendon Estates were built between 2004 and 2008. Most of the homes sit on sites between two and four acres in size and some have outbuildings like workshops or second living quarters. The interiors of these homes have between 2,400 and 3,000 square feet with chef’s kitchens, granite counters, custom cabinetry, hardwood flooring, and crown molding. Many of the homes have guest suites, home offices, or bonus rooms with flex-space.

Though there are no community amenities, Lake Wylie is nearby with natural areas, parks, and public boat ramps so you can fully enjoy the lake. In addition, there are many private boating facilities, country clubs, and yacht clubs if you want to join the type of activities you might get in a larger planned community. Or, you can just enjoy the privacy and not having a homeowners association.

In the last year, just two homes and one lot changed owners in Clarendon Estates. The homes both sold in less than four days on the market showing just how in-demand Clarendon Estates really is. They sold for an average price of $572,450. The lot that sold was a 1.136 acre parcel with a creek in the back. It sold for $55,400.

There are currently no homes offered for sale in Clarendon Estates, but that is not unusual for this time of the year. The best thing a buyer can do while they wait for the spring busy season for real estate is to get ready so when the time comes, they can make the strongest offer to secure the home they desire. This is made easier if you do your homework and are pre-qualified for a loan, know exactly what neighborhoods you are interested in, and have your Realtor helping you to know when the perfect home is about to be listed in your dream neighborhood.

For more information about Clarendon Estates 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.

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.

Vanderlakes is located just off South Paraham Road south of Highway 49. This great location is away from the traffic of the lake, but is close to public boat ramps and private yacht clubs perfect for enjoying the lake lifestyle. Right down the road you will find restaurants, shopping, and entertainment. Uptown Charlotte is right about a half-hour away making an easy commute or a quick trip in to see a show or catch a game.

Custom built homes in Vanderlakes were built in the early 2000’s. Most homes have near or greater than 3,000 square feet of living space. Many of the homes were upgraded in the last few years to include home offices, in-ground pools, outdoor kitchens, and/or sports courts. Many have extensive landscaping including patios, terraces, or decks to enjoy the outdoors any time of year. Homes have between 3 and 5 bedrooms and 2.5 to 4 bathrooms. Primary suites are sumptuous

In the past two years, just 4 homes changed owners in Vanderlakes showing that once you are a part of the neighborhood, you just don’t want to leave. Almost all of the homes sold in less than a week on the market with one selling the day it was listed. Average sales price was just over $600,000. There are not any homes for sale in Vanderlakes at present, but we can help you be ready as soon as one of these gems is listed for sale.

For more information about Vanderlakes 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.

Homes at Paradise Point are a variety of sizes and styles. Some homes were built in the 1970’s and some were built as recently as 2017. This leads the neighborhood to feel eclectic and unique. There is no HOA, so no additional regulations beyond the city of Belmont which means that you have more latitude for outbuildings, boat storage, and additions on homes.

Most homes in Paradise Point have between 2 and 3 bedrooms, and between 2 and 4.5 bathrooms. The range in size is from about 1,400 to 4,900 square feet. Many of the homes have water frontage with docks and boathouses.

In the past year, 8 homes in Paradise Point changed owners. Prices ranged between $290,000 and $652,500. These prices vary depending on the size of the home, the size of the lot, and water frontage. There is currently one home listed for sale in Paradise Point. It went under contract in 31 days and is a unique property because it has a separate guest house that can be converted to an income producing property. The original list price on this one-of-a-kind waterfront home was $799,999.

If you want to know more about Paradise Point so you can be the first to know when a home is listed for sale, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Closed sales were also down year over year, with a decrease of 13.6%. New listings were up 4.1% year over year. These factors together signal that homes are spending longer on the market, and more people are listing their homes. Prices have yet to fall in accordance with the increased supply, we will have to wait to see if there is a corresponding price correction.

When you look at the numbers for Lake Wylie, you see a much smaller rise in inventory, just two homes more this year than last. It is not unusual for trends in smaller areas not to match the overall trend due to the small sample size. New listings, pending sales, and closings were all down year over year, 8%, 26.6%, and 26.9% respectively. Homes are still going under contract quickly, with the average of 16 days from list to contract.

Prices in the greater Lake Wylie area are still on the rise, with the average sales price coming in at $698,709 in June. This is up 36.1% from $513,455 last June. Sellers can also expect to get at or above list price with the average home selling for 102.3% of list price. This means that the market is still favoring sellers and will continue to do so until the supply of homes reaches a 4-6 month supply when the market is considered to be balanced between buyers and sellers. This shows that higher interest rates have not slowed buyers in our area yet.

If you want to know more about any 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.

The Vineyards on Lake Wylie began in 2008 and there are still new construction homes being completed in the neighborhood. There are single-family homes as well as townhomes so there are options for many different sizes of families. Homes have between 3 and 6 bedrooms and 2.5-5 bathrooms with between 1,700 and 4,000+ square feet of living space.

Neighborhood amenities in The Vineyards on Lake Wylie include a cabana, clubhouse with fitness area, dog park with two areas for larger and smaller dogs, two outdoor pools (one geared towards kids and kids at heart, and one geared for lap swimming), secured playground, sidewalks, street lights, tennis courts, and groomed walking trails. There are also pickleball courts, bocce courts, canoe and kayak dock, community boat docks, a deep water boat launch, and a parking area for cars and boat trailers. At the lakeside, there are decks, picnic areas, and a boardwalk along the mile of waterfront. Homeowners Association fees are low, and residents are close to all of the shopping, dining, and entertainment you need.

In the last year, 43 homes changed owners in The Vineyards on Lake Wylie. They ranged from a townhome for just over $300,000 to a 5 bedroom executive home for $730,000. There are currently 18 homes offered for sale ranging from a townhome for around $350,000 to a 4,000+ square foot estate home for just over $1,250,000. All except for three of these homes are already under contract, so if you want to get in this community you need to act quickly.

If you want to know more about The Vineyards on Lake Wylie or to schedule a showing on one of these amazing homes, call us at 803-831-8588. You can view current listings and create custom searches on our website here.