March Market Statistics

It looks like the Seller’s market is going to continue for a while in the Charlotte area. According to data from the Charlotte Regional Realtor Association, the Charlotte area is down to just a 2 month supply of homes. This data is based on information provided by the Carolina Multiple Listing Services monthly report. The report was released this week and looks similar to previous months, with a few exceptions.

One of the most striking changes from previous months is the drop in sales. There was a decline of 11.2% from March of last year. This is possibly a sign that the hot market could slow down at last.

New listings were also down 4.5% year over year. The lack of new listings typically indicates that there could be more competition for existing listings which makes a seller’s position in a transaction stronger. Currently the supply of homes is at just 2 months. A balanced market between buyers and sellers is typically 6 months.

One of the things that typically happens when there is a lack of supply in the market is that prices go up. This is what has been happening in the Charlotte area. In March, median sales price was up 7.1% to $235,000. Average sales price was up 4.6% to $279,726. These higher prices are paired with rising interest rates which can price some buyers out of the market entirely.

Another side effect of rising prices and interest rates is that homeowners are staying in their homes longer. This is truly an opportunity for sellers to list their homes as they can get higher prices, but many homeowners are cautious because they worry about not finding their next home. There is a ready and willing buyer base so hopefully we will see inventory rise soon.

If you are interested in buying or selling a home in the Charlotte area, give us a call at (704) 525-4045. You can view current listings and create custom searches on our website here.

Neighborhood Spotlight: Avery Lake

If you’re looking for a charming neighborhood with great schools in Fort Mill, SC, look no further than Avery Lake. Homes are affordable and there is great highway access making a commute a breeze. There is a small lake in the neighborhood for residents to enjoy.

Avery Lake is located just off Steel Street and Springfield Parkway walking distance from Fort Mill Middle School. A five minute drive will have you in Downtown Fort Mill with quaint shops as well as national retailers, dining, and entertainment. A commute to Uptown Charlotte should take around 25 minutes, and Charlotte Douglas International Airport is about 25 minutes away as well. There are many nearby options for outdoor recreation including the Anne Springs Close Greenway, Fort Mill Golf Club, as well as nearby Lake Wylie.

The neighborhood includes apartments, single-family homes as well as a new townhome development currently under construction by Mcor Builders. The single-family homes are typically 3 bedroom and 2 bathroom homes with 1,100 – 1,200 square feet of heated living space. These homes were built between 2000 and 2004 and have lots around a fifth of an acre.

The new townhomes have modern designs featuring 3 bedrooms and 2 bathrooms. Each home will have around 1,300 square feet of heated living space with the loft and third bedroom being upstairs, perfect for a media room or home office.

In the last year, homes in Avery Lake have sold for between $172,000 and $196,000. The townhomes are listed at $165,995, but are all currently under contract, expected to be completed in 2018.

Children in Avery Lake currently attend award winning Fort Mill Schools. These include Fort Mill Elementary School, Fort Mill Middle School, and Nation Ford High School. Please verify school information as zoning changes from time to time.

If you are looking for a home in Avery Lake, give us a call at 704-525-4045. You can also view current listings and create custom searches on our website here.

February Market Statistics

The Charlotte Regional Realtor Association has released their monthly report of home sales statistics based on data from the Carolina Multiple Listing Services, Inc. According to the report, home prices in the region continue to be higher than previous months. The average sales price rose year over year to $265,761, an increase of 8.3%. The median price also rose 12.9% to $227,000.

Pending sales were up 8.3% from 2017 with 4,092 sales pending at the time the report was released last Friday. There were 2,792 sales that closed in February, representing a 3.4% increase over 2017.

Despite these gains, inventory was down yet again from a 2.6 month supply to a 2.0 month supply, a decrease of 23.1%. There were only 8,035 homes on the market at the time of the report. This leaves homebuyers with fewer choices, and makes competition more common when a home does come on the market. Buyers are at a disadvantage in negotiations as there are more buyers than sellers at this time.

Buyer demand may be steady, but new listings were down year over year from 4,695 down to 4,627 representing a decline of 1.4%. This means that we can’t expect a reversal of the market any time soon.

It will be interesting to see what will happen as the FED has recently raised rates, which usually tracks with a corresponding rise in mortgage rates. This could cause a slow-down of the market as people may not be able to afford large mortgages. We will keep tracking the trends.

If you are interested in a home in the Charlotte area, give us a call at (704) 525-4045. You can view current listings and create custom searches on our website here.


Limited Opportunities in Ballantyne’s Estates at Oakhaven

Estates at Oakhaven is another amazing neighborhood brought to you by CalAtlantic/Lennar Homes. Begun by CalAtlantic, Lennar is taking on the task of finishing the project after the merger. Located in Ballantyne, Estates at Oakhaven is in a fabulous location close to shopping, dining, golf, outdoor recreation and more. There is easy highway access connecting residents to Uptown Charlotte and Charlotte Douglas International Airport.

Located just south of Ballantyne Commons Parkway, Estates at Oakhaven straddles Providence Road West between Johnston Road and Community House Road north of Ardrey Kell Road. This location is close to the Golf Club at Ballantyne which gives residents year-round access to an amazing golf club.

Containing only 46 homes, Estates at Oakhaven is an exclusive opportunity. These all brick luxury homes start at $473,990 and go up to $535,990 or more with upgrades. There are six floor plans to choose from including Waverly, Oakwood, Ellington, Drake, Chatsworth and Wilmington. Square footages range between 3,014 to 3,745 and include 4 or 5 bedrooms and 3 to 4 bathrooms.

Homes in Estates at Oakhaven have two or three stories and two car garages. Options include two story foyers, spa like bathrooms, gourmet kitchens, guest suites, trey or coffered ceilings, upstairs laundry rooms, Jack and Jill bathrooms, walk-in dressing rooms/closets and much more. There are seemingly endless opportunities to make a home in Estates at Oakhaven perfect for your family.

Children in Estates at Oakhaven could go to either Hawk Ridge Elementary or Elon Park Elementary Schools. From there, they feed to Community House Middle School and Ardrey Kell High School. Please verify school assignments as boundaries are subject to change.

There are currently four homes for sale in Estates at Oakhaven with three already under contract. If you are interested in getting in on this exclusive opportunity, give us a call at (704) 525-4045. You can also view current listings and create custom searches on our website here.

Get in Early on Rea Farms

Rea Farms is an amazing new neighborhood by CalAtlantic/Lennar. Located off Providence Road just south of I-485 at exit 57, Rea Farms is in a great and desirable location. On the site of the old Golf Links golf course, Rea Farms covers 188 acres and will include up to 500,000 square feet of office space, up to 210,000 square feet of retail in addition to 700 multi-family and single-family homes, and a unique village green.

Harris Teeter is building a new store that will help anchor the site at Rea Farms as well as Lifetime Fitness and Lifetime Tennis, the post office, and a hotel also anchor the neighborhood. The plan calls for a K-8 school which would serve children in the surrounding neighborhoods as well as Rea Farms. Also walkable from Rea Farms are Waverly, Providence Farms, and Stone Creek Ranch. This gives you many shopping, dining, and entertainment options within walking distance.

Homes in Rea Farms have a few different options. There will be rental units for people over 55 years of age. Townhomes are being developed, and also single-family homes. The single-family homes have a few different configurations and will include homes with detached and attached rear load garages. Some of the newer homes look like they will have traditional front or side load garage plans.

The builder’s website says that they will have stunning floorplans with open great rooms, kitchen and breakfast room concept, flex rooms and elegant owner’s retreats. They plan to have unique and flexible floorplans with something to offer for everybody. There will be four collections of homes to choose from and pricing has not yet been determined.

Rea Farms is currently zoned for fantastic schools which makes it even more desirable. Children will attend Polo Ridge Elementary, Jay M. Robinson Middle, and Ardrey Kell High Schools. Please verify school assignments as school boundaries can change.

The project at Rea Farms officially opens this spring, but if you want to get in early, give us a call at (704) 525-4045. You can always view current listings and create custom searches on our website here.


Get in on Waxhaw’s Tuscany

Waxhaw’s Tuscany is an amazing neighborhood with a few opportunities to build a home from the ground up. There are just a few homesites left as this neighborhood was begun before the recession and had a pause in construction. Now it is underway again by builder CalAtlantic. You can’t beat the location, the schools, or the styling on these homes.

Tuscany is located off of Billy Howey Road south of New Town Road on the Northeast side of Waxhaw, North Carolina. As you drive into the entrance you will first see the amazing clubhouse and amenity center. Residents can enjoy the pool, clubhouse, fitness center, playground, walking trails and much more.

Head back a little bit further and you will start to see the stunning homes. Homes in Tuscany were built as far back as 2006, but most of the ones currently on the market were built from 2013-2018. There are a few quick-move in homes available, but there are also opportunities to start from scratch. There are many floor plans to choose from and some lots even accommodate a basement style home. Homes here are large, with most over 3,000 square feet. Many homes have three car garages, side-load or courtyard style garages are common.

Exteriors of homes in Tuscany spare no attention to detail. They are truly stunning and have a combination of brick, siding, and stone for a natural look. Windows are plentiful letting in lots of natural light. Ceilings are high making spaces feel more grand. Open floor plans include gourmet kitchens with top of the line appliances. Most homes have 3-5 bedrooms, home offices, flex space, media rooms, and game rooms are in many of the homes as well.

Current zoning has children in Tuscany attending top rated Wesley Chapel Elementary, Cuthbertson Middle, and Cuthbertson High Schools. Please verify school assignments as they can change.

In the past year, homes in Tuscany have sold for between $280,557 and $503,860 with an average price of $364,906. There are currently 6 homes on the market which represents about a 1.4 month supply of inventory.

If you are interested in setting up a private showing of a home in Tuscany, give us a call at (704) 525-4045. You can also view current listings and create custom searches on our website here.

Spotlight: Forest Grove

Forest Grove is a new D.R. Horton neighborhood in desirable Fort Mill, South Carolina. The project has great amenities, low taxes, outstanding schools, and easy access to Uptown Charlotte and Charlotte Douglas International Airport. Fort Mill is considered a suburb of Charlotte even though it is in South Carolina as it is only 18 miles from the city so you get all of the amenities of the city while having the advantages of living a slower, quieter life. What’s not to love?

Located off Highway 160 about halfway between Highway 49 and I-77, Forest Grove gives homeowners great access to options for shopping, dining, fitness and outdoor recreation. Lake Wylie is just minutes away for water sports, boating, hiking and more. Forest Grove is also just outside Baxter Village and is close to Carowinds Amusement Park and McDowell Nature Preserve.

Homes in Forest Grove are craftsman style on the outside but have open concept floor plans and are filled with luxury features. Prices start in the low $300’s and include between 1,906 and 3,265 square feet of living space. This includes 3-5 bedrooms and 2.5-3 bathrooms. There are possibilities for upgrading the home in many ways to make it perfect for your family. There is also an inviting entrance and resort-style amenities.

Children in Forest Grove are currently zoned for top rated Gold Hill Elementary, Gold Hill Middle, Fort Mill High Schools. Please verify school assignments as zoning boundaries can change. There are also private schools, preschools, mother’s day out programs, and daycare options close by.

If you are interested in being the next owner in Forest Grove, let us set up a private tour. Give us a call at (704) 525-4045. You can also view current listings and create custom searches on our website here.

Serenity in Waxhaw’s Wildwood

Deep in the woods South of Waxhaw, North Carolina sits a unique neighborhood called Wildwood. There are 14 beautifully wooded homesites that all sold within a year of being offered for sale. Custom homes are in process of being built on many of the sites while there are others that are already completed.

To enter Wildwood, you drive in from Davis Road and the first thing you will notice is the iconic windmill at the entrance. As you drive up the road you feel like you are entering the Blue Ridge Parkway. The landscaping has been done in such a way that you feel like it has always been that way. There are split rail fences on each side of the road and they welcome you into each private preserve. The peaceful feeling will envelop you as you drive through and all of your stresses and worries will melt away as you steep in the natural surroundings.

Homes in Wildwood that are completed so far are more modest in scale than you would expect for a custom project. Metrolina Construction is the builder on the homes completed so far, but other builders have been brought in by property owners to build as well.

The location of Wildwood makes it a true retreat. You are far enough away from the city that you have a serene and peaceful setting to recharge, while still being close enough to enjoy all of the amenities of the city. There are places nearby to shop, dine, find entertainment, and have outdoor activities.

Current school assignments at the time of this post have children in Wildwood attending Waxhaw Elementary, Parkwood Middle and Parkwood High Schools. Please verify school assignments as they change occasionally.

If you are interested in a home in Wildwood or any other project in the surrounding area, give us a call at (704) 525-4045 and we will schedule a private tour. You can also view current listings and create custom searches on our website here.

Get in on Fort Mill’s Oakland Pointe

CalAtlantic is bringing another amazing new neighborhood to Fort Mill called Oakland Pointe. This intimate community has just 100 home sites only 20 miles from Uptown Charlotte. The great location isn’t the only thing drawing people to Fort Mill, the amazing schools are bringing people to the area too.

Oakland Pointe is located off North Dobys Bridge Road at Kimbrell Road on the East side of Fort Mill, South Carolina. A quick 1.4 mile drive will have you in quaint downtown Fort Mill for shopping, restaurants, historical sites and major retailers. Fort Mill Golf Club is just 1.3 miles away, and Anne Springs Close Greenway is just across Tom Hall Street. Also close by are Carowinds Amusement Park, Ballantyne Village, and Lake Wylie is a quick drive as well.

Homes in Oakland Pointe start at $322,990 and can go higher for larger plans or upgrades to the plan. There are five floorplans to choose from with many different features including owner’s suites and retreat areas, game rooms, screened in porches, and gourmet kitchens. Plans have between 3 and 6 bedrooms and have between 2 and 3 bathrooms. Square footages range between 2,473 to 3,567. There are currently 9 quick move-in homes available or you can choose a lot and start your home design from the ground up.

Children in Oakland Pointe are eligible to attend Fort Mill Elementary, Nation Ford Middle and Nation Ford High School. Please verify school assignments as they are subject to change. All of these schools are in close proximity to the neighborhood. There are also many options nearby for preschool, daycare, and private schooling.

If you are looking for a home in Oakland Pointe, let us help you find the home of your dreams. Give us a call at (704) 525-4045 and we can schedule a private tour of the community. You can also view current listings and create custom searches on our website here.

Custom New Construction in Wendover Hill

There’s a new exclusive neighborhood coming soon to the Cotswold/Myers Park area of South Charlotte. Wendover Hill has amazing custom homes that are grand in scale, yet on a private cul-de-sac less than ten minutes from Uptown Charlotte, five minutes from SouthPark, and two blocks from Cotswold. Currently there are three opportunities to own homes here, one almost completed and two still with plenty of opportunity to customize before completion.

Custom boutique builder/Architect Jain Design LLC is responsible for the project at Wendover Hill. They bring more than 20 years of experience and LEED accredited building expertise. They work in conjunction with leading Charlotte interior designers to make these spaces truly luxurious.

Each home in Wendover Hill has at least 3,000 thoughtfully designed square feet of living space. Open floor plans feature plentiful windows for natural light. Main floors feature 10 foot ceilings and wooden beam accents. Custom furniture-style cabinetry, custom moldings, and site-finished hardwood floors are just a few of the details you can expect in a home in Wendover Hill. Luxurious bathrooms with spa showers, soaking tubs and custom tile work are to be expected as well. Outdoor spaces are high on the list of perks with screened porch areas with fireplaces and gas lamp details. Some plans have fully finished basements. There is community open space as well making yards feel larger and more open. Current prices start in the high $700’s.

The homes and the location are just a few of the features to love in Wendover Hill. Amazing schools are zoned for the neighborhood as well. Children here will attend Cotswold Elementary, Alexander Graham Middle, and coveted Myers Park High Schools. Please verify the school assignments as they are subject to change. There are also many private school options nearby.

If you are interested in learning more about Wendover Hill or touring one of these amazing properties, give us a call at (704) 525-4045. You can view current listing and create custom searches on our website here.