Lake Wylie Realty Man Team

Neighborhood Spotlight: Stowe Point

June 2, 2021 by lkw_df Leave a Comment

Picture a serene enclave of homes with great amenities, Belmont schools, close to Lake Wylie and you have Stowe Point. This great North Carolina neighborhood has all of that and more. It is a desirable place with homes selling quickly and home prices appreciating.

Stowe Point is in an ideal location surrounded by large forested tracts of land. This gives a feeling of seclusion even though you are just a half mile from a Harris Teeter grocery store, Starbucks, and Chick Fil-A restaurant.

The neighborhood was originally developed by Lennar Homes and was completed in 2015. Homes show like brand new and include desirable features like open floor plans, and large kitchens with islands. Homes typically have 4-6 bedrooms and 3-4.5 bathrooms. Most homes have around 3,000 square feet of heated living space and at least 2 car garages. Neighborhood amenities include a pool, playground and walking trails.

In the past year, 14 homes sold in Stowe Point with an average sale price of $340,000. Most of the homes sold after being on the market for less than a month and in a lot of cases in less than a week. This reinforces that Stowe Point is a great desirable neighborhood. There are currently 4 homes on the Market in Stowe Point with another 2 coming soon. Three of the homes are already under contract. The average list price of these homes is just over $400,000.

For more information on buying or selling a home in Stowe Point or any other neighborhood in the Lake Wylie area, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

April Market Report: Greater Lake Wylie Area

May 13, 2021 by lkw_df Leave a Comment

It appears that the trends that have persisted over the past year are still holding strong in the Charlotte Region. Prices are rising and supply is still not enough to meet demand even though new listings are up. This could be an indication that the market is in the first stages of correction as many more people are starting to be comfortable listing their homes.

Canopy Realtor Association reports each month on numbers based on listings in the Canopy Multiple Listing Service. According to the report, the supply of homes is at just 3,018 or just a 0.6 month supply of homes. Last April the supply was at 9,099 or a 2.1 month supply. A balanced market between buyers and sellers is typically considered to be a 4-6 month supply. This is despite 5,711 new listings, up 32.5% from last year.

When you look just at the Greater Lake Wylie area, you see just 109 listings, representing a 0.7 month supply of homes. These homes are selling for 19.4% more than the same time last year. This is an increase of, on average almost $75,000 in just one year. While this is great news for sellers, buyers are feeling the pinch. Buyers are having to bring more money to get the same home and are facing steep competition. Many homes are seeing multiple offer situations and the average home is now selling for 102.4% of the list price.

Hopefully once inventory comes in line with demand we will begin to see prices stabilize. Until then, buyers will need to be resilient as they may have to put in offers on multiple homes before they win the bidding war. Sellers are not immune to difficulty, as they are often having trouble once they become buyers. We are seeing a lot of sellers ask to lease back their home for a few months while they find their next home. We can help you with all of these issues.

For more information on buying or selling 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.

Featured Listing: 1104 Long Creek Court

April 23, 2021 by lkw_df Leave a Comment

COMING SOON to The Landing! Our newest listing you don’t want to miss. 1104 Long Creek Court is a gem in the middle of a fantastic neighborhood on a private 0.40 acre wooded homesite. This stunning executive home features an open floor plan perfect for entertaining and sure to please any family.

When you walk in, you enter a large foyer entry with a sweeping staircase. A neutral color palette is the perfect complement to large windows letting in abundant natural light. The view from the windows overlooks a large buffer making it feel like a private park setting almost like you’re in the mountains.

The lower level features an open kitchen with plenty of counter space and great storage. There is also a large dining room, living room, family room, and a home office.

The upper level features a large master bedroom with a luxurious master bath. This private retreat is perfect for relaxing at the end of the day. There are additional bedrooms and bathrooms and a bonus room that could be used as another bedroom.

Outside you can relax on a multiple level deck with plenty of room for entertaining. Below the deck is a stone fire pit with a flagstone patio for seating.

This home is situated within one of Lake Wylie’s most desirable communities, The Landing. The neighborhood features a pool, club house, walking trails, and much more. The home is also zoned for sought after Clover Public Schools.

To schedule a private showing of this property, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

To view the full listing on this property, click here.

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: 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: 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.