June Market Statistics

Buyers are starting to feel the pinch in the Charlotte market as inventory is super low and prices are rising sky-high. Jason Gentry, the president of the Charlotte Regional Realtor Association says “Even though the Charlotte region is wedged into a solid seller’s market, incredibly low supply coupled with higher prices and rising mortgage rates are presenting challenges to buyers.”

This should be a great market for sellers, but they are afraid of not being able to find a comparable home so they are reluctant to list their homes. This is coupled with builders not being able to keep up with demand either so inventory remains low.

The monthly report numbers are out from the Charlotte Regional Realtor Association data compiled from the Carolina Multiple Listing Services. According to their report, there are just 9,554 homes on the market, down 17.2% from this time last year. This means that the Charlotte Region has only a 2.3 month supply of homes at this time. A balanced market between buyers and sellers is considered to be a 6 month supply. For comparison, in June of 2012 there were 18,700 homes on the market in the Charlotte Region, almost twice the number on the market in June of 2018.

The average sales price of homes rose 5.7% from last June to this June up to $302,177. If you look back at that same report from June of 2012, the average sales price was $227,907. That’s a jump of almost $75,000 in just 6 years, almost a 33% rise in property value.

The homes that are on the market are selling at a quicker pace than in years previous. In June of 2012, homes spent an average of 111 days on the market from listing to sale. This June, homes spent an average of only 36 days on the market. This means that buyers have to be able to act quickly to get a home right now.

If you are ready to act quickly, give us a call at (704) 525-4045. You can view current listings on our website and create custom searches here.

Join the Community in Brantley Oaks

Picture yourself going to a community 4th of July put on by the neighborhood social committee. You’ll see kids riding a big water slide, neighbors sharing a meal, and community coming together. You’ll see all of these things and more in Brantley Oaks.

Brantley Oaks is a small tight knit community situated off 485 and Rocky River Road in Union County, NC. This location is between Waxhaw and Mineral Springs, North Carolina. Charlotte is not far away if you have a commute, or just want to have a day in the city.

There are just 65 custom homes in Brantley Oaks each with a lot ranging in size from 1 to over 3 acres. Each home has amazing attention to detail and the typical home is well over 3,000 square feet of heated living space. Many of the homes have 3 car garages and amazing outdoor living spaces including pools, fireplaces, outdoor kitchens and more. Yards are wooded and some contain creeks, but all have privacy you just can’t get closer in to town.

This hidden gem has a swim and racquet club which hosts the Barracudas swim team. The Barracudas compete with nearby neighborhoods in the University Swim League. The homeowners association hosts many activities throughout the year that helps bind the community together and fosters life-long friendships.

Children in Brantley Oaks currently attend Western Union Elementary School, Parkwood Middle School, and Parkwood High School. Please verify school assignments as they can change from one school year to the next.

In the past year, homes in Brantley Oaks have sold for between $332,000 and $552,900 with an average sale price of $445,629. There are currently 6 homes on the market, representing 10.3 months of inventory.

If you would like to schedule a private tour of homes in Brantley Oaks, give us a call at (704) 525-4045. You can view current listings and save custom searches on our website here.

Neighborhood Spotlight: Bridgemill

Bridgemill is a fantastic neighborhood in Indian Land, South Carolina. Residents enjoy low South Carolina taxes and excellent schools all while living in a planned community with resort-style amenities. This convenient location is six miles from I-485 and 10 minutes from Ballantyne, but feels like a retreat.

The original section of Bridgemill started in the early 2000’s by builder John Weiland Homes. These homes were grand with large footprints, 4 sides brick construction and meticulous attention to detail. John Wieland was building in the neighborhood and has homes as recent as 2015.

There is also a new section of the neighborhood with homes by Pulte Homes. These 20 homes include 9 quick move in homes and 5 luxury homes. Homes start at $242,999 and the luxury plans can be over $645,000 depending upon upgrades. Homes range in size from 1,961 to 4,734 square feet of living space. Many of the homes include 3 car side-load garages, fully finished 3rd floors, 4 sides of brick construction, butler’s pantries, coffered ceilings, hardwood flooring, spa-like bathrooms and much more.

Neighborhood amenities for Bridgemill include a 7,000 square foot clubhouse with fitness center, recreation room, gathering room and catering kitchen. Outside you’ll find a competition size pool with lap lanes, waterslide, zero entry wading area and water play features. For additional sporting events, there are three lighted tennis courts, basketball court and sand volleyball court. A private 3.5 acre lake is part of a walking trail system and leads to a neighborhood park and playground with gazebo, fireplace, and entertaining area.

Harrisburg Elementary School, Indian Land Middle School, Indian Land High School. Please verify school assignments as they can change from one school year to the next.

There are currently 44 homes on the market in Bridgemill with many of them under contract. If you would like to schedule a private tour of homes in Bridgemill, give us a call at (704) 525-4045. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Squirrel Lake Village

If you are looking for a new home in Matthews close to downtown with an easy commute, Squirrel Lake Village is the place for you. There is a mix of new construction homes and existing homes with something to meet the needs of every family.

Squirrel Lake Village is located just off Pleasant Plains Road right around the corner from Squirrel Lake Park and backing to Fourmile Creek. Access to I-485 is close by as is Highway 74 to connect you to Uptown Charlotte and all other points of the city. Downtown Matthews is just to the North with shopping, dining, entertainment and unique shops.

Within walking distance you will find the Greenway with about a mile walk to downtown Matthews so you don’t even need a car to enjoy the town. You can also walk to Squirrel Lake Park to enjoy the playground or fish off the pier.

Schools that are currently zoned for Squirrel Lake Village include Matthews Elementary School, Crestdale Middle School, and Butler High School. Please verify school assignments as they can change from one school year to the next.

Homes in Squirrel Lake Village can be quite large with many of the homes over 3,000 square feet. The existing homes were built between 2006 and 2007 and have tons of storage, open concepts, granite counters, plantation shutters and more. The new construction homes have flexible floorplans and can be customized to meet your needs. Builder Brookwood Homes is currently building one more home in the neighborhood so don’t miss out.

If you would like to schedule a private showing in this amazing area, give us a call at 704-525-4045. You can create custom searches and view current listings on our website here.

May Market Statistics

The competitive Charlotte housing market is continuing for yet another month. This is according to the May report from the Charlotte Regional Realtor Association. The report is based on numbers from the Carolina Multiple Listing Services.

Limited inventory is one of the factors making the market so competitive right now. There are just 9,106 homes on the market right now, down 2,275 from last year at this time. This is a reduction of 20%. This means that buyers are competing for a dwindling supply of homes and new construction starts and new listings are not keeping pace with current demand. This lack of supply is even more pronounced in the below $350,000 range where the number of homes available has dropped more dramatically, even as much as 50% in some price ranges.

Another factor making the market a tricky place for buyers is rising prices. The average home price in the Charlotte region was up 10.7% from May of last year, up to $299,690. The median home price has risen 9.5% up to $245,000.

These higher prices combined with lack of inventory are pricing some buyers completely out of the market. The buyers that can still afford a home can face additional challenges. They may have to wait longer for homes to come on the market that match their criteria, or they may face direct competition from other buyers in multiple-offer situations especially in the lower price points.

These factors together appear to be slowing the market somewhat. There were 4.2% fewer sales this May than last May. Pending sales were up 9.7% and new listings were up 3.3% so this could be a dip for May only.

It remains to be seen how long this tight market can go on before there is a correction. For now, homes are selling faster than ever with days from list to close coming in at 87, down 10 days from last year at this time. For now, it appears that buyers need to be able to act quickly.

Luxury Homes in Waxhaw’s Oldenburg

When you think of unparalleled luxury, amazing schools, first rate amenities, and grand homes, Oldenburg ranks top of the list. Located in Waxhaw near Blakeney, Oldenburg is close to everything you need or want. The homes are grand and the lots are large, what’s not to love.

Oldenburg is located on Crane Road just a few miles from I-485 exit 57 for Providence Road/Highway 16 South. You are close to Marvin, Weddington, and Blakeney giving you options for dining, shopping, fitness, churches, country clubs, outdoor recreation and much more. The convenient highway access can get you quickly to Charlotte Douglas International Airport or Uptown Charlotte.

Builder Shea Homes is developing this project and they have some amazing offerings. There are 11 plans to choose from with endless ways to upgrade and customize. There are also three quick move in homes that will be available in June. All homes have full-brick exteriors and 3, 4 or 5 car side-load or courtyard style garages. There are some basement homesites available, and all lots are around ½ and acre or larger.

The homes in Oldenburg are impressive not just in scale, but also in the level of detail. Homes have between 3,799 and 6,043 square feet in one or two story plans. Homes have between 4 and 6 bedrooms and 3.5-4.5 bathrooms. Custom millwork, custom cabinetry, and huge windows letting in natural light in each room are hallmarks of each plan. Open gourmet kitchens, spa-like bathrooms, outdoor living spaces, mudrooms, butler’s pantries and more are options on each home.

Oldenburg is currently zoned for top rated Marvin school district including Marvin Elementary, Marvin Ridge Middle and Marvin Ridge High Schools. Please verify schools as zoning boundaries can change from time to time.

Neighborhood amenities will include pool and playground. Prices start at $669,450 and can go much higher depending upon upgrades and options. If you would like to schedule a private tour of these homes, give us a call at (704) 525-4045. You can view current listings and create custom searches on our website here.

Amazing Lifestyle in Masons Bend

Do yourself a favor and take a trip to booming Fort Mill this week and check out Masons Bend. This thoughtfully planned community has new homes, quick move-in homes and already built homes available for you to tour. There are many different floor plans and architectural styles sure to please every size and type of family. Fort Mill is just a few miles away, and there is easy access to I-77 leading you to attractions such as Carowinds, and all the way up to Charlotte.

Masons Bend was named Community of the year in 2017 by the Homebuilders Association of Greater Charlotte, and it’s not hard to see why. The amenities include a pool, clubhouse, and childrens park. There are also many opportunities for outdoor recreation in the Catawba river which flanks the community. There are social events throughout the year geared for fit and active community members. The natural landscape is integral to the community as is evidenced in the miles of trails that link this community to some of the most scenic parts of the Catawba river.

Homes in Masons Bend have a wide range of sizes and styles. There are one story or two homes with anywhere from 2 to 4 car garages. There are three builders for the neighborhood, Saussy Burbank, The Cunnane Group Inc, and Fielding Homes. Each builder has their own character for their homes, but each has amazing attention to detail. These well crafted homes have open floor plans, fantastic kitchens, flexible spaces perfect for home offices, playrooms, home theaters and more. Prices range from the $300’s to the $800’s.

The homes are not the only draw for residents. Masons Bend is also zoned for top rated Fort Mill Schools. Current school serving the neighborhood are Riverview Elementary, Banks Trail Middle, and Fort Mill High School. Please verify school assignments as zoning is subject to change. There is also a parcel in the neighborhood plan slated for a future school.

If you are looking for a thoughtfully planned community that respects the legacy of the land while providing amazing opportunities for living and gathering, look no further than Masons Bend. If you would like to arrange a private tour, give us a call at (704) 525-4045. You can explore current listings and create custom searches on our website here.

New Townhomes Coming To Myers Park

A new townhome project is coming to Myers Park and should be completed early in 2019. This exciting project has been named Myers Park Terraces and will include only 6 units. Sales are launching this week and they should go quickly.

Myers Park Terraces are located at the intersection of Park Road and Reece Road. This great location will have residents across the street from Park Road Shopping Center and walking distance to many restaurants and vibrant nightlife in Montford. The project is also about halfway between Uptown Charlotte and SouthPark making a quick commute to employers in either business hub.

Hopper Communities, a great local company, is the builder for the development. They have been behind many amazing communities in and around the Charlotte area including Cypress Landing, Fairington Oaks, Grandin Heights, and Southpoint at Southend.

From what we know so far, Myers Park Terrace will consist of six, three-story townhomes. Each home will have between 2,070 and 2,127 square feet of living space. In addition, each will have a two car garage and a roof terrace.

Each home in Myers Park Terrace will have three bedrooms in one of two different open floorplans. Features will include ten-foot ceilings on the main level, quartz counters, stainless steel appliances, hardwood floors, rain showers in the master, large kitchen islands and much more. The builder is also planning to include the entire Nest suite of home technology including Nest Thermostat, Nest Cam, Nest Hello, and Nest Secure. Prices are expected to start in the mid-$600’s.

In addition to all the great features and the great location, Myers Park Terrace is zoned for top rated schools. Current zoning is for Selwyn Elementary School, Alexander Graham Middle School, and Myers Park High School.

If you want to be one of the few people to get in on this exclusive community, give us a call at (704) 525-4045. Though Myers Park Terrace homes are not currently listed for sale, you can view nearby listings for boutique luxury townhomes and create custom searches on our website here.

Neighborhood Spotlight: Ashton Ridge

If you’re looking for a quiet neighborhood in south Charlotte with luxury homes close to major arteries, shopping, dining, country clubs, and more, Ashton Ridge may be the place for you. There are a total of 21 luxury homes in the project brought to you by a local custom builder. These thoughtfully designed homes are both sleek and casual, but every inch elegant.

Location is one of the main draws for Ashton Ridge. Situated just west of the intersection of Rea Road and Providence Road, Ashton Ridge is close to everything. There is easy highway access allowing for quick commutes to Uptown or Charlotte Douglas International Airport. It is in close proximity to shopping, dining, and medical facilities. Also close by are SouthPark, the Arboretum, and Ballantyne.

Ashton Ridge is zoned for some of the best public schools in the city. Current designated schools include: Olde Providence Elementary, Carmel Middle, and Myers Park High. There are also many private school options nearby. Please verify school assignments as boundaries are subject to change.

When you step into one of these homes, you can see every inch of the craftsmanship. They were designed by Jeanine DeVaney and Associates, developed by Homewood-Centerlane LLC, and are being constructed by HHC Construction. Four floor plans are offered with master up or down options. All homes are full brick construction with front and rear porches. They feature traditional design including a mixture of colonial, cottage, and Tuscan design. No detail has been overlooked, from the solid core doors, to the custom cabinetry, to the hardwood flooring, to the bluestone front entry, to the custom shelving in every closet.

Homes have 4 bedrooms and 3.5 or 4 bathrooms. Square footages are 3,500 or higher and also include high ceilings and open living spaces making them seem even more spacious. Prices start in the upper $700’s and can go higher depending on upgrades.

If you are interested in learning more about these amazing homes or would like to schedule a private tour, give us a call at (704) 525-4045. You can create custom searches and view current listings on our website here.

April Market Statistics

The story is much the same for the Charlotte region this month. According to data from The Charlotte Regional Realtor Association, home prices are still on the rise and inventory is still on the decline. The report data is based on information from the Carolina Multiple Listing Services Inc.

When you compare year over year, inventory is the most striking with a decline of 22.6% from 11,008 homes for sale in April of last year to just 8,515 homes for sale this April. This means that buyers have fewer homes to choose from and prices are being driven higher by lack of supply.

Both median and average sales prices are up for the region as well. Homes sold for an average price of $292,158 last month, an increase of 8.1%. The median sales prices was $240,000, up 7.4% from the same time last year.

It appears that there are still buyers out there which means that we won’t soon see a reversal of this seller’s market. A seller’s market is generally considered to be a 4-6 month supply of homes, and in the Charlotte region we are sitting at just a 2.1 month supply of inventory. While this is great news for sellers, unless they are moving out of the region, it can be difficult to find a new home to move into.

Pending sales were up 10.7% from last year which gives hope that there are still buyers in the market. Sales of homes were also up by 1.6% from last year. Homes also sold quicker this year than last, spending just 44 days on the market on average, down 5 full days from last year.

New listings were up, though only slightly from last year, just 0.7% or 39 homes more than last year. This means that we won’t see the market begin to reverse just yet.

If you are in the market to buy or sell a home in the Charlotte area, give us a call at (704) 525-4045. We have the knowledge and expertise to help you through the entire process. You can also view current listings and create custom searches on our website here.