Spring Real Estate Market is Blooming!

We put four waterfront listings under contract this past weekend, and that’s a great indication of how hot the market is right now on Lake Wylie!  I pulled some stats to see what’s happening around the lake.

There are currently 135 waterfront homes listed, and twenty-five of those are now under contract.  Here are some highlights and observations:

  • Three homes under contract are listed for over $1 million.  Each of these homes are large (>5500 square feet) with high finish levels and nice outdoor living areas (outdoor kitchens and/or pools, etc.).  One is in Reflection Pointe (Belmont), one in Charlotte (upper Lake Wylie) and one in Lake Wylie SC.
  • Nine dockable waterfront homes under contract are priced below $500,000.  Of these, five could be considered “cabins” or vacation homes, with the remaining being older homes in need of repairs and updates.
  • Of the cabins/second homes – – THREE were on the market for less than a month before going under contract!
  • The mid-priced segment ($500-$700k) has really picked up in the past couple of months.  This is generally the strongest performing category of waterfront real estate, but struggled a bit in 2015 due to dwindling inventory.  There are eight homes currently under contract in this price range.  Average size is about 2700 square feet, and average age is 28 years old!!  Most, but not all, have had updates, which is important to many buyers in this price range.
  • There are five homes under contract that are priced $700k-$999k.  These are bigger (average just over 4000 square feet) and more updated or newer than the mid-priced segment, and have desirable locations in Tega Cay, Lake Wylie and The Palisades.
  • Location-wise, homes are selling all over the lake!  Three in Belmont, six in Charlotte (most in upper Lake Wylie, Withers Cove and Browns Cove areas), eight in Tega Cay, six in Lake Wylie/York (Clover school district), and two in Rock Hill (both are cabins).

We are seeing lots of showing activity across all price points, and inventory is needed.  The Lake Wylie Man looks forward to working with buyers and sellers in this exciting real estate market!