lake wylie waterfront

Neighborhood Spotlight: The Sanctuary Lake Wylie

December 15, 2022 by lkw_df Leave a Comment

If you are looking for a tranquil luxury retreat, The Sanctuary on the shores of Lake Wylie lives up to its name. This exclusive community comprises 1,350 acres of wooded land with 22 miles of trails for cycling, hiking, or walking through this natural paradise. Homes are tucked away throughout with lots sized between 2 and 13+ acres affording privacy.

When you don’t want privacy, you can take advantage of the community resources. Amenities include a Junior Olympic Pool, splash pad, tennis courts, and pickle ball courts. There is a central lodge with a 24/7 fitness center, kids room, and gathering spaces that are available for use or for rental for private events. Lake access is available for residents with activities like boating, kayaking, swimming, and canoeing. Homes without direct water access can lease dock slips.

All of this comes just 20 minutes from Uptown Charlotte with quick access to the highway. There are many options for dining, shopping, and entertainment in nearby Steele Creek to the Southeast or towards the Northeast near Charlotte Premium Outlets.

Custom homes in The Sanctuary are impressive and come with features you don’t find everywhere. Most of these grand homes have over 5,000 square feet of living space and features such as multiple primary suites, private home spas, elevators, quarters for live-in help, and pool houses. Some of the homes have separate guest houses, while some have extensive home theaters and game rooms. Many have wine cellars, home offices, master chef’s kitchens, and all of the custom touches you can dream of.

When completed, The Sanctuary will have 187 homes. There are currently 14 lots for sale perfect for bringing your own custom builder or using one of the 15 custom builders that have already been approved in the neighborhood. Many of the sites are perfect for basement style plans

If you are not the type of person who wants to do a custom build, there are 4 existing homes on the market. In the past year, 13 homes sold for an average sales price of just over $2 million. Prices can vary widely depending on the size and positioning of the property and if it has private lake access.

For more information about The Sanctuary 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.

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.

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: Reflection Pointe Waterfront Community

December 5, 2020 by lkw_df Leave a Comment

If you are like many people spending too much time in your home right now, you probably have a list of grievances against your home. Maybe there is no home office, maybe there is a small yard, maybe you just need more space. If this sounds familiar, there are opportunities to build a custom home to suit your particular needs in Reflection Pointe.

Reflection Pointe is a gated community located right on Lake Wylie, ten minutes from historic Belmont and 35 minutes from Uptown Charlotte. There are amazing community amenities including a lagoon swimming pool, clubhouse, soccer field, lighted tennis courts, children’s play area, and beach area on the Lake. There are walking trails throughout the neighborhood as well a deeded boat slips at the marina. The active homeowners association hosts community events throughout the year.

There are over 360 homesites in Reflection Pointe, and each lot is at least a half of an acre. This means there is space to build a large home to have all of the space your family needs. Homes are typically over 3,000 square feet but many are over 5,000 square feet. As you would expect, lots with lake frontage command a premium as do homes on the lake. Interior lots do have deeded boat slips at the marina so even interior homes have full access to the lake.

In the last year, homes in Reflection Pointe sold for between $487,000 and $1.275 million. There are currently three homes on the market which represents 3.6 months of inventory. There are also currently 64 lots available ranging from $33,900 for an interior basement lot to $349,500 for a premium lake frontage lot. You can bring your own builder for these lots, or use one of the approved builders selected by the community.

If you are ready to start your journey to your dream home in Reflection Pointe, give us a call at 803-831-8588. You can view current listings and create a custom search on our website here.

Neighborhood Spotlight: Paddler’s Cove

November 5, 2020 by lkw_df Leave a Comment

To take advantage of all of the activities at Lake Wylie and great neighborhood amenities, Paddler’s Cove is the place to be. Paddler’s Cove is directly on the lake, is zoned to coveted Clover schools, and enjoys lower South Carolina taxes. With a great location near the Buster Boyd Bridge, a commute into Uptown Charlotte is a breeze as well.

Homes in Paddler’s Cove are new construction with the oldest homes built in 2017 and new construction homes still available. There are one and two story plans as well as townhomes so there is truly a home for every kind of family. Homes have open floor plans, chef’s kitchens, and airy and open owner’s suites.

In the last year, 81 homes sold in Paddler’s Cove with townhomes typically selling in the $200,000’s and single-family homes selling between around $300,000 to around $625,000 with the average sale price around $440,000. There are currently four townhomes for sale that are all under contract, and 11 single-family homes for sale that are also already under contract. All of the current listings are new construction. When an existing home comes on the market, it typically goes under contract very quickly so you have to act fast to get in on this desirable spot.

If you are interested in buying or selling a home in Paddler’s Cove or would like to learn about any other neighborhood in the Lake Wylie area, give us a call at 803-831-8588. You can view all current listings and create your own custom home search on our website at lkwrealty.com

August Market Report

September 15, 2020 by lkw_df Leave a Comment

The Covid-19 pandemic has changed the game for the real estate market in recent months. The monthly numbers from the Canopy Realtor Association report on the Canopy Multiple Listing Service is out and we have the details.

If you look at the entire Charlotte Region, which includes 12 counties in North Carolina and 4 counties in South Carolina, you see that prices are up, homes are selling quickly and that there are fewer homes on the market.

When you look just at the Lake Wylie area, you see that prices are up, homes are selling quickly, and that there are fewer homes on the market. This is the same trend that is holding true.

In August of last year, there were 427 homes for sale in the Lake Wylie area. This year there are only 190, a decrease of 55.5%.

Homes are going under contract in an average of 45 days, 12 days quicker than last year. The average home is sold 100 days after it is listed, down 8 days from last year.

Prices are up as well, the average list price of a home in Lake Wylie is $456,073, up 9.1% from last August. Sales prices are also up, 5.4% to an average of $432,606.

There are 23.3% more pending sales this year than last year which means that we should have strong sales figures for next month as many of these sales close. There were also 25% more new listings this August showing that we should see many of those homes go under contract to keep the numbers strong for the next few months. Colder weather usually slows the market down, but we may see that happen later than usual since the spring bump was pushed to the summer.

If you are interested in buying or selling a home in the Lake Wylie area, give us a call at 803-831-8588. For more information and to search available homes, be sure to visit LKWRealty.com.

Neighborhood Spotlight: Mariners Watch Cove

June 7, 2019 by lkw_df Leave a Comment

If you’ve had your eye on the exclusive community of Mariners Watch Cove in York, SC, you’re not alone. This popular spot is part of the Allison Creek Peninsula on the shores of Lake Wylie and is truly stunning. With million dollar views, large lots, majestic trees, and stellar homes, you won’t believe you are just 45 minutes from Uptown Charlotte.

To get to Mariners Watch Cove, you have to enter from Hands Mill Highway/Highway 274. Once on the peninsula you feel your cares disappear as you enjoy the splendor of Lake Wylie between Big and Little Allison Creeks. Waterfront homes enjoy year round views of the Lake, while inland homes may have seasonal views.

Though it feels like a retreat, Mariners Watch Cove is only 20 minutes away from York and Clover, South Carolina. 30 minutes away you will find Rock Hill, South Carolina, and 45 minutes will get you to Charlotte Douglas International Airport. Residents are currently zoned for award winning and highly desirable Clover Schools, and also enjoy lower South Carolina taxes.

Homes in Mariners Watch Cove are luxurious and custom built. Most homes have well over 3,000 square feet and some include second living quarters, fully finished basements, guest houses, elevators, wine cellars, boat houses and much more.

It is rare to see one of these homes come on the market, in fact three homes sold in 2017, and two are currently on the market. Waterfront lots command a premium and typically sell for well over $1 million. Interior lots are fantastic as well, though they only have lake access from the public boat ramps the nearest of which is Allison Creek Public on Viesta Road. Interior homes typically sell in the $300,000’s to the $500,000’s.

To schedule a private tour of the two current listings in this amazing neighborhood, call us at 803-831-8588. To view current listings and create custom searches, click here.

Lake Wylie/Steele Creek/ Charlotte Real Estate report

February 9, 2019 by David McCorkle Leave a Comment

The yearly numbers are in for 2018 for the Lake Wylie/Steele Creek Real Estate Market. The Carolina Realtors Association compiles data from the Carolina Multiple Listing Services to get a portrait of the local real estate market and provide us with data to analyze for our readers interested in Real Estate. This is what they show.

The Charlotte Region:

When you start digging into the numbers, for the entire Charlotte region sales were down 14% from December of 2017. Prices were up slightly, with the average sales price up 1.1% to $282,894. Inventory was down yet again from a 2.3 month supply to a 2.2 month supply, a decline of 550 homes. This leaves sellers again in the best position in real estate deals with a balanced market considered to be a 4-6 month supply of inventory. Pending sales were dead even and new listings were down 4.4% from this time last year.

In the Steele Creek area zip codes 28278 and 28273 the Market is extremely tight,

1325 Homes were sold compared to around 2000 in 2017. Currently there were only 15 Homes priced under $300,000 in the entire 28273 area, most sell within 10 days of entering the market and the overwhelming majority of those were priced under $350,000.

York, Clover and Lake Wylie: Zip Codes 29710 and 29745

A similar pattern continues in the South Carolina Market, sales were down from 2017 from a high mark of 1300 to 1135 in 2018, the majority of those 848 were priced under $350,000. Current active inventory is 221 Homes.

When you look just at Lake Wylie, South Carolina non waterfront resale Homes the story is a little bit different. Closed sales were indeed down year over year 15.3% from 98 to 83. Due to the small sample size, the percentages can look extreme so please keep that in mind. Average price was up year over year to $409,539, an increase of 16.2%. Inventory was dead even from last year in terms of months of supply at 3.3, but remember about that extreme note from earlier, there were actually 26 more homes on the market.

This means that sellers are still in a slightly better position in the Lake Wylie area. New listings are on the rise in the area with many new construction projects helping to boost the supply. The new listings were up 23.9% from 67 to 83. Pending listings were down year over year from 75 to 62, down 17.3%. Homes spent longer on the market in 2018 with days on market up 102% from 51 to 103, but this probably reflects new construction homes which typically stay on the market substantially longer than existing Homes.

In River Hills there is an extreme shortage of Homes on the Market the lowest in recent memory 52 closed last year with currently only 9 on the Market. New Homes accounted for an amazing 245 sales with strong sales in the Paddlers Cove Community

WATERFONT MARKET UPDATE

Median prices continue to rise in the waterfront market due to low inventory and high demand, as of this writing there were just 91 active listings in both Carolinas down from the 120 to 140 we experienced over the last decade with a median asking price of $839,000 which is over $100,000 more than last year with only 5 priced below $600,000.

The 1 Million plus market was very active with 11 Million Dollar plus Homes closed in 2018 and currently 14 are on the market, both numbers are about the same as 2017. A total of about 120 legitimately waterfront Homes sold down from about 160 from the year before due to a shortage in inventory with a median price pushing close to $725,000 up from the low $600,000’s a number that stayed steady for some time.

TIPS FOR BUYERS AND SELLERS:

In this unusual Housing market it is still important to discuss Home staging, photography, drone shots, brochures, marketing, Web presence and most of all pricing strategy. Here are a few other tips to guide the process.

The Real Estate transaction is a complicated and emotional process. Contracts and addendums are extensive sometimes reaching 20 to 30 pages.

Make sure you review all the documents prior to listing or purchasing a property, that way there will be no surprises when time comes to make an offer or negotiate an offer..

Understand the hard deadlines for Loans to be approved, Inspections to take place and negotiations on any repairs, speaking of repairs this is the biggest deal killer of them all as Inspectors are paid to find out everything that is not perfect with the Property, that offends most all Sellers.

The best tip of all is always hire an experienced professional Agent not a friend of a friend that just got Licensed or the former Barber or Hair Stylist. Transactional experience is key to a successful and Happy Purchase or Sale.

David McCorkle

David lives on Lake Wylie and is the Principle Broker of Lake Wylie Realty. David has been a Licensed Broker for 40 Years.