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.

 

Lakefront Living: 721 Anchors Bend Cove

Take a look at this beautiful custom waterfront home on Lake Wylie that features resort-style living at its best. This 3,400 square-foot home features four bedrooms, three bathrooms and is situated on over five acres of land.

Not only does this property feature a tremendous amount of curb appeal and beautiful outside features, but inside the home is equally detail-oriented with coffered and barrel ceilings, a huge master suite and bathroom with separate vanities and a gorgeous soaking tub, stainless steel appliances in the spacious kitchen, plenty of space for indoor entertaining and recreation throughout the home, and beautiful windows that let in lots of natural light.

Outside, you will find a saltwater pool and hot tub, outdoor cooking areas by the pool as well as the by the dock, and two dock options for access to the lake.
The views from the backyard space are simply stunning, and this location cannot be beat. The property offers privacy and peacefulness but is only minutes away from the dining, retail, entertainment and endless recreation of Lake Wylie.Furthermore, the home is on the South Carolina side of Lake Wylie, so residents can take advantage of the lower taxes there. For more information on this stunning waterfront property at 721 Anchors Bend Cove listed at $1,299,000, be sure to visit LKWRealty.com.

Lake Wylie boasts strong real estate market

While Lake Norman is the largest lakefront market in the Carolinas, accounting for $592 million worth of homes and land as well as claiming more than 1,000 current listings, Lake Wylie still holds its own.

Lake Wylie’s real estate market boasts $222 million worth of property with an average list price of homes at $628,755.  Approximately 40% of homes on Lake Wylie on the North Carolina side have a list price between $350,000 and $700,000. 31% of homes cost less than $350,000, 20% of homes range from $700,000 to $1 million,  and only 9% cost more than $1 million.

In comparison, almost 60% of North Carolina’s million dollar homes are located in the Lake Norman region. Lake Norman is also home to North Carolina’s third and fourth most expensive ZIP Codes in the state.

The 28216 ZIP Code in Lake Wylie ranks number nine among North Carolina’s most expensive ZIP Codes. Here, homes average approximately $781,000. There are four ZIP Codes on the South Carolina side of Lake Wylie that rank among the most expensive in the state, including 29745 at number three, 29732 at number four, 29710 at number seven, and 29708 at number eight.

For more details and information on the real estate markets in both Lake Norman and Lake Wylie, be sure to take a look at the full article at bizjournals.com.

Waterfront property on Lake Wylie: 212 Twin Coves Lane

Waterfront property is some of the most sought after real estate in Lake Wylie. This charming gem on Twin Coves Lane is back on the market and is in one of the best locations, while featuring phenomenal main channel views. It is conveniently located near everything you could want or need, including plenty of shopping, grocery stores, and local restaurants. Plus, you can take advantage of all that Lake Wylie has to offer in the way of recreation, including boating, skiing, picnics and more.

Furthermore, the town of Lake Wylie offers easy access to the big city amenities of Charlotte all while providing a fantastic community in which to live.

This 1970s traditional style home features three bedrooms and one and a half bathrooms and totals 1,300 square feet on a lot that is almost one and a half acres. This move-in ready home features recently updated carpet as well as an old caboose on the property.

This waterfront find boasts an expansive tree-lined backyard, a floating dock, a boat house, a deck and many more perks.

For more information on this property or others like it, visit LKWRealty.com or call 803-831-8588.

Main Channel Views: 212 Twin Coves Lane

screen-shot-2016-12-11-at-3-44-28-pmIf you are in search of a lovely waterfront property on Lake Wylie, you won’t want to miss this charming home on Twin Coves Lane. The property is off the beaten path, giving it a sense of privacy and seclusion, while still being extremely close to every business and restaurant that  bustling Lake Wiley has to offer. Plus, with big main channel viwes and a move-in ready home, you can’t go wrong.screen-shot-2016-12-11-at-3-45-03-pm

This home features three bedrooms, one and a half bathrooms occupying 1,300 square feet on a lot that totals almost one and a half acres. The home features brand new carpet and a two-car carport, as well as a boat house, deck and floating dock for your boating needs. Furthermore, the huge tree-lined property and fenced yard is great for playing or entertaining with friends or family. And, the property includes and old caboose!screen-shot-2016-12-11-at-3-44-51-pm

This lakefront home offers a fantastic opportunity to reside in the ever desirable town of Lake Wylie, with its picturesque landscapes, avid boating community, thriving local economy, and easy access to Charlotte’s big-city amenities. Moreover, the lucky owners of this Lake Wylie home can take advantage of South Carolina’s low taxes.

Take a look at this fantastic property today, because at $335,000, you will not want to miss this opportunity to live on the water in one of the best locations. Call 803-831-8588, or visit our website at LKWRealty.com.

Belmont’s new waterfront community debuts new 50-cottage village

screen-shot-2016-12-01-at-3-45-06-pmMcLean is a new beautifully master-planned waterfront community on Lake Wylie in the town of Belmont occupying 670 acres along five miles of stunning shoreline in an extraordinary location, right next to the Daniel Stowe Botanical Garden and the Carolina Thread Trail. Furthermore, it is conveniently located near downtown Belmont’s charming shopping and dining scene. This remarkable new community will allow residents easy access to all of the activities that Lake Wylie has to offer, including boating and fishing, as well as the opportunity to take advantage of the location’s pure lakefront beauty.

The newest development within this community is with The Conservancy, a small village subdivision that will feature 50 cottage-style ranch houses built by M/I Homes. M/I Homes will offer six different home designs, and pre-sales have already begun. The home designs for The Conservancy offer numerous optional features and add-ons, such as a bonus room, an upstairs living room, or outdoor living areas. With the purchase of every M/I home, homeowners can take advantage of the included lawn maintenance, Energy Star certification, and a 15-year transferable structural warranty. Plus, The Conservancy has its own pool, clubhouse and bocce ball court for residents to enjoy, and these amenities are scheduled to open in 2017.

M/I Homes is one of the country’s premier builders of high-quality single-family homes focused on “uncompromising quality, innovative design and enduring value in the best, most desirable locations possible.” For more details on the company or for more information on the community of McLean, be sure to read the full article at PRnewswire.com.

Lake Wylie offers both affordability and luxury real estate

screen-shot-2016-11-13-at-2-48-07-pmIf you are looking for waterfront property in the greater Charlotte area, the ever-desirable Lake Wiley is certainly not to be missed. Homes here tend to offer buyers more bang for their buck, particularly when compared with the homes on Lake Norman, where the average sales price tends to be much higher, despite Lake Norman’s greater expanse of shoreline properties.

Although Lake Wylie is smaller than Lake Norman, the North Carolina housing market here is worth $134.6 million, and Lake Wylie’s South Carolina market is worth another $110 million, making Lake Wylie the third largest market in North Carolina and the fourth largest market in South Carolina, with 325 miles of shoreline properties.

The average list price of homes on the North Carolina side of Lake Wylie is $608,070, which is relatively more affordable when compared with Lake Norman where the average list price is $860,890. Even more affordable is the South Carolina side of Lake Wylie where the average list price is $594,059.

While Lake Wylie tends to offer greater affordability than north Charlotte, there is still an active luxury market here featuring stunning lakefront multimillion-dollar homes.

The Lake Wylie real estate market is certainly diverse and dynamic, featuring a range of price points and a range of features. Furthermore, the market here is pretty steady year-round, attracting not only local buyers, but also out-of-state buyers who are relocating for work or who are looking for their dream retirement home. As far as waterfront real estate goes, Lake Wylie certainly features some of the best properties that the greater Charlotte area has to offer.

For more details on Lake Wylie’s housing market, check out the full article at bizjournals.com.

Market report: Waterfront sales

screen-shot-2016-10-02-at-4-47-13-pmLet’s take a look at the year-to-date numbers for waterfront properties in and around the Lake Wylie area.

With the first three quarters of the year under our belt, the housing market, and particularly waterfront sales, are looking good for Lake Wylie and the surrounding region.

Year-over-year numbers indicate that the average number of homes sold per month are up, with 105 homes sold so far in 2016 (approximately 12 homes sold per month) as compared with only 91 homes sold through the third quarter in 2015 (approximately 10 homes sold per month).

Furthermore, the average list price has increased from $548,000 in 2015 to $608,000 in 2016, the average sales price has increased from $525,000 in 2015 to $580,000 in 2016, and the average price per square foot has increased from $172 in 2015 to $190 in 2016.

Even though the current number of waterfront homes on the market, 130 to be exact, represents 10.8 months of inventory which would be considered a buyer’s market, the year-over-year numbers reveal positive trends for sellers. Plus, based on what is on the market now in Lake Wylie and the surrounding region, the average price per square foot is $221 and the average list price is $875,000, and both of these numbers are notably higher than last year’s numbers at this time.

In the first three quarters of 2015, homes spent an average of 124 days on the market, and in 2016 homes spent an average of 142 days on the market, indicating slightly less activity this year and a sign that buyers may have the upper hand now.

So, while, inventory points to favoring the buyers, other stats are looking favorable for sellers. It’s a win-win!

Location, location, location: 14620 Rainbarrel Road

Screen Shot 2016-08-21 at 8.56.20 PMCheck out this beautiful custom built Lake Wylie home on Rainbarrel Road that features gorgeous main channel water views. Not only is this a waterfront property, but the location is fantastic! It is close to wonderful dining, including plenty of waterfront restaurants, as well as great shopping from small boutiques and major retailers. The home is only a 20-minute drive from uptown, 15 minutes from the airport and five minutes from the new outlet mall, all while being perfectly situated on Lake Wylie.Screen Shot 2016-08-21 at 8.57.02 PM

This four bedroom, three bathroom home totals 2,721 square feet. Nearly every room in the home features views of the lake and there is tons of natural light throughout. There are also multiple outdoor decks for you to enjoy the view, whether it be during your morning cup of coffee or to take in the evening sunset.

Screen Shot 2016-08-21 at 9.24.29 PMThe home sits on a very private almost one-acre lot and features a newly installed AC unit. Built in 2003, this new-constriction home also features a huge basement, a carport and garage, a fireplace, and a fantastic floor plan.

The marina is within walking distance from the home and features a pool and boat dock. You will not want to miss this move-in ready property currently listed at $685,000. This is a rare waterfront find you must see for yourself! For more information on this  property or others like it, call 803–831–8588 or visit our website at lkwrealty.com.

Ultimate lakefront life: 5800 Burke Drive

This is lakefront living at its best!

Screen Shot 2016-08-13 at 2.52.15 PM Screen Shot 2016-08-14 at 4.05.53 PM

 If you are looking for a beautiful home in Lake Wylie, you will not want to miss this picturesque waterfront property with main channel water views from your back yard. Enjoy the view from your deck or patio of this four bedroom, three and a half bathroom home. The house features vaulted ceilings, plenty of windows with tons of natural light, a huge kitchen and dining area with a fireplace that passes through to the family room,and a huge bonus room downstairs that features lots of extra space that can be used as a man cave or play room.

.Screen Shot 2016-08-13 at 2.52.43 PMScreen Shot 2016-08-14 at 4.05.09 PM

 

 

 

There is a detached two-car garage that is oversized for additional storage. The property also features a boat house with a floating dock and a giant backyard that even has enough space for you to design your own pool and lounge deck.

Screen Shot 2016-08-13 at 2.53.50 PMScreen Shot 2016-08-14 at 4.03.52 PMBuilt in 1999, this 3,571 square-foot home is situated on an acre of land and features an open floor plan with the master bedroom on the main level. There is also the option to purchase additional acreage.

This is lakeside living at its finest, with no HOA’s and convenient immediate access to all that Lake Wylie has to offer.

At $647,000, you will not want to miss this property. Call 803–831–8588 or visit our website at LKWRealty.com for more information on this property and others like it.