September Market Report

Lake Homes Realty, an Alabama-based firm has ranked Lake Wylie the fifth-largest lake market from the 100-plus Multiple Listing Services they reported on. According to their report, the value of homes listed for sale, based on data for three months ending August 14th, was over $455 million. There were 1,082 homes available, which ranked Lake Wylie number 3. Their report only looked at homes and land that were adjacent to a lake, included a water view, lake access, or were in a lake-focused neighborhood. This could mean that neighborhoods that were not on the lake, but were considered by consumers to be lake listings were included as well.

When you look at the numbers from the most recent report from the Charlotte Regional Realtor Association’s Multiple Listing Service report, you find that the Lake Wylie region is humming along quite nicely. Almost category was up from the year before. Supply of homes was down to just a 3.2 month supply of homes, getting closer to the 2.2 month supply for the entire Charlotte region. This is not surprising given the general trend of lack of supply that has been plaguing the area for some time. New listings have not been able to keep pace, and this in turn has pushed prices even higher.

Lake Wylie is still more affordable than Lake Norman where the average price for a home is $472,444, but the average price for a home sale in Lake Wylie has risen to $423,236. Rising prices may be pushing some buyers to lakes further away from Charlotte when looking for their dream home or second home. However, there are still affordable options in Lake Wylie.

Pending sales were up 96.9% year over year and new listings were up 44.9% showing that for the next few months at least the market will continue to be strong. Closed sales were up 14% year over year and are up 12.8% year-to-date.

If you are interested in 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: The Sanctuary

There are still chances to own a home in the amazingly tranquil custom neighborhood The Sanctuary. Located on the shores of Lake Wylie, but with a Charlotte address, The Sanctuary lives up to its name. There are resale homes and lots available in this exclusive tight-knit community.

Comprised of 1,350-acres of wooded land, The Sanctuary is unique as it has 22 miles of trails for residents to enjoy while cycling, hiking, or walking. There are many other amenities in the community including community Jr. Olympic pool, splash pad, tennis courts, and pickle ball courts. Inside the lodge, you’ll find a 24/7 fitness center, kids room, and gathering spaces available for rent for private events. Lake access is available to residents as well, with boating, kayaking, camping, and canoeing. Dock slips are available for lease for residents without direct water access.

The amenities aren’t the only great thing about The Sanctuary, the homes are pretty impressive as well. Homes sit on lots that are between 2 and 13+ acres providing plenty of privacy and room for outdoor living. There is also room on larger lots for additional structures such as boat storage, guest houses, studios, tree houses, home offices and more. Homes are estate sized with many over 5,000 square feet of living space. This means there is room for families of any size and private amenities like chef’s kitchens, bedroom suites, custom closets, home theaters, wine cellars, saunas, steam rooms, home gyms, and more.

There are 187 lots in the community, 90 of which currently have homes. There are 33 lots currently for sale through the MLS and they are all perfect for using one of the 15 approved custom builders.

The Sanctuary is located about 20 minutes from Uptown Charlotte and is close to highway access perfect for a commute or just a trip into town for a game, concert, or museum. There is convenient shopping close by in Steele Creek.

If you would like to schedule a private tour of available homes or land in The Sanctuary, call us at 803-831-8588. You can view current listings and create custom searches on our website here.

Get Top Dollar by Staging Outside

If you want to get top dollar for your home, that starts when people drive up to your home. If you don’t have good curb appeal, it sets the tone for a potential buyer to turn around and not even go inside. If they do come in, it sets them up to think that your home can be had for a bargain price. To make the best first impression on a prospective buyer, you have to stage the outside of your house as well as the inside. Below are some of the best projects you can do to get you top dollar when you sell your home.

The simplest and cheapest upgrade you can do is to clean up your home. Sure, you keep the inside of your home clean, but the exterior probably hasn’t been washed in some time. Pressure washing or just cleaning with a hose to get spider webs, wasp nests, pollen, and dirt away can make a world of difference. Cleaning windows helps let more natural light into your home and can make it sparkle from a distance as well.

If you have a little bit more time and money in your budget, refreshing or replacing part or all of a door or door hardware package is a great next step. Painting or staining an entry door can make it look brand new and replacing hardware can take a dated home and make it look more modern. If there are issues with the door, replacing may be the way to go and will give you a great return on your investment. This goes for garage doors as well because they can be a large percentage of what a buyer will see from the curb. You can also add updated house numbers in a modern font so buyers know they are at the right home.

Landscaping can be a great refresh for your home as well. This can be as involved as hiring a contractor to help you, or just trimming your bushes so people can actually see your home and all of its best features. Planting flowers can add a pop of color or just add a hanging plant or some window boxes to highlight your newly cleaned windows. If you have a larger budget, think of adding lighting, upgrading paths or sidewalks, or refreshing your driveway.

If you have done all of those things and your home still could use more sprucing up, maybe painting the exterior will get you top dollar for your listing. If you have more money in the budget, a contractor can help you clad your exterior with new siding, or improve your facade with stone or brick accents.

If you are thinking about listing your Lake Wylie area home, give us a call at 803-831-8588. To view current listings and create custom searches for your next home, visit our website here.

Take a Closer Look: Tioga Pointe

Homes in Tioga Pointe don’t come up for sale often so you have to be ready when one comes on the market. These amazing homes are grand in scale and reside on large lots right on the shores of Lake Wylie, South Carolina. This means lower South Carolina taxes, highly sought after Clover schools, and great proximity to Uptown Charlotte.

Tioga Pointe is located just off of Lake Wylie Road close to the junction with Highway 49. This gives residents great access to highways leading to shopping, dining, and entertainment. It also means a quick trip to Charlotte Douglas International Airport, or a straightforward commute to Uptown Charlotte.

In the past year, just three homes sold in Tioga Pointe ranging from $460,000 to $628,000. These homes sit on lots of at least an acre in size and range from 3,050 to 3,849 square feet. Three or four bedrooms are the most common with 2.5 to 5 full bathrooms. Many of these homes were custom built and have all of the features you could ask for. Some have gourmet kitchens, home offices, second living quarters, in-ground salt water pools, and much more. There is no HOA for the neighborhood.

There is currently only one home on the market in Tioga Pointe. If you would like to schedule a private tour of that home, give us a call at 803-831-8588. You can view all current listings and create custom searches on our website here.

Neighborhood Spotlight: Mariners Watch Cove

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.

Just Listed: 5929 Johnson Road

Newly listed is a true lakefront custom home that leaves no detail to chance. Careful thought, meticulous planning, and exquisite execution brought this amazing home together. Now it can be yours with only enjoyment ahead.

This home is located on a cove off the main channel of Lake Wylie with a Clover address that feeds to award winning and desirable Clover schools. The home is located within a community, but is not a part of the HOA. The lot is very private and is a dockable waterfront homesite. The home sits on an acre of property giving privacy, but also room for outdoor entertainment and living spaces.

This home is unique as it has a fully finished basement, as well as a carriage house with a suite perfect for a caregiver or the in-laws complete with full kitchen. Also included are a en-suite laundry, fitness room, and home office. You’ll be amazed at the custom built-ins, the chef’s kitchen, and the details like chair rail and wood inset trey ceiling.

You’ll love to relax on the deck or have morning coffee on the screened-in porch. The view of the lake is phenomenal. You can tool around the neighborhood on a golf cart and park it in its own private garage. You’ll also love the abundance of natural light that plays on the vaulted ceiling in the main living area.

To schedule a private tour of this home, give us a call at 803-831-8588. You can view the full listing and see additional photos here. To view additional listings and create custom searches, visit our website here.

February Market Report

The monthly numbers have been published by the Carolina Regional Realtor Association. They base the report off of numbers from the Multiple Listing Services, Inc. The big story for the Charlotte region is that almost every number is down. From supply of homes to new listings, to days on market from list to close, all of these numbers are down. The numbers that are up are average and median list price.

When you look just at Lake Wylie, the numbers are a little bit different, but keep in mind that the small sample size can make the trends seem extreme. In Lake Wylie, most of the numbers are up from last year at this time. New listings are up 12% over this time last year, from 133 to 149. They are also up when you look at year-to-date, 10.6% over last year from 246 to 272.

This increase is responsible for an uptick in the supply of homes which rose from 3.5 months up to 3.6 months. A balanced market between buyers and sellers is considered to be a 4-6 month supply. This is welcome news for buyers as they have had a harder time in recent years with a rise in multiple offer situations and prices above list. If this trend continues, we could see prices slow in their rise.

Prices for homes in Lake Wylie have increased from an average of $382,147 last February to $393,761 this February. This represents a 3% increase year over year. When you look year-to-date, there has been an 8.4% rise in average sales price which could be the result of a few large sales.

Pending sales were way up year over year from 91 up to 120, a rise of 31.9%. This means that we should see strong sales for the next few months as the homes that are pending head to the closing table. As we head into spring, we should see the market speed up.

If you are looking for a home 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.

 

Lake Wylie/Steele Creek/ Charlotte Real Estate report

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.

 

Neighborhood Spotlight: Pierpointe

Come and visit Pierpointe, a remarkable enclave of custom homes on the main channel of Lake Wylie. These homes have stunning views both inside and outside and epitomize the lakeside lifestyle. Add close proximity to major employers, an international airport, and Uptown Charlotte and this location is perfect.

You approach Pierpointe from Pine Harbor Road at Shopton Road. This means that Rivergate is just minutes away providing most of the necessities. There are shops, restaurants, and grocery stores in Rivergate. Residents can quickly get to I-77 or I-485 to connect with Charlotte Douglas International Airport and Uptown Charlotte.

Homes in Pierpointe are grand in scale and full of unique features. Many of the homes have two-story plans and some have fully finished basements as well. Some of the homes have extensive formal gardens, some have guest houses, some have media rooms, there are surprises in each home. Most homes have over 4,000 square feet of living spaces with between 3 and 6 bedrooms and 3.5-4.5 bathrooms.

The waterfront homes in Pierpointe have truly stunning views of the lake. Homes take full advantage of the views with terraces, sunrooms, decks, boat houses with lifts, floating docks and lakeside seating areas. Some homes even have pools that overlook the water. All have outdoor living spaces and lush landscaping making a true retreat. The lots are large, most are at least half of an acre with many over an acre, providing privacy.

These homes don’t come on the market very often, in fact in the past year only two homes came up for sale. Prices range from the $700,000’s to over $1 million.

Children in Pierpointe currently attend Winget Park Elementary School, Southwest Middle School, and Olympic High School. Please verify school assignments as they can change from one school year to the next.

Neighborhood Spotlight: Harbor Club

It may be hard to find a reasonable priced home in Lake Wylie, but Harbor Club on the North Carolina side of the lake is just such an enclave. This well established lake neighborhood has walking distance to shopping, reasonable prices, and beautiful grounds.

Harbor Club is located off Pine Harbor Road close to the intersection with Shopton Road. This location means that Steele Creek is close by for shopping and entertainment. Rivergate is also close by for shopping and dining. Easy access to I-77 and I-485 connect residents with Uptown Charlotte, Charlotte Douglas International Airport, and all points around the city.

Homes in Harbor Club were built in the mid-1990’s to 2000 and typically have 3-5 bedrooms and 2-3.5 bathrooms. They range in size from 1,700 to just over 4,000 square feet of living space. Many of the homes have been fully updated in recent years. Many homes have outdoor living spaces with decks, hot tubs, water features, fire-pits, patios and more.

Many of the homes are two story and some have fully finished basements as well. Rooms are large and floor plans are open making entertaining a breeze. Many of the homes come with deeded boat slips, but the Marina & Yacht Club is close by and offers day slips for residents.

Children in Harbor Club currently attend Winget Park Elementary School, Southwest Middle School, and Olympic High School. Please be sure to verify school assignments with the school district as boundary lines can change from one school year to the next and boundaries sometimes run through neighborhoods.

In the past year, homes in Harbor Club sold for between $242,000 and $293,000 with an average sold price of $268,967. There is currently one home on the market in Harbor Club representing a 2 month supply of homes. These homes don’t come up very often as 6 homes sold in 2017 and so far this year only two homes have sold with one currently on the market.