The waterfront real estate market for the Lake Wylie area is buzzing with activity so far this year! I'm happy to report that waterfront transactions are at an all-time high since 2008! Waterfront home sales at the end of June hit 70 while lots came in at 25 compared with 68 and 19, respectively, for 2016.


The chart below shows the number of homes sold over the past three years by price point from January to June. As you can see, home sales in the 500-699K price point have increased quite a bit and account for 40% of sales. Current inventory in this price point is only 22 and three are already under contract. Inventory is low, making it a seller's market. Now is the time to list!


Several waterfront properties are currently under contract right now, 27 homes and 20 lots. Many of these properties have desirable features such as outdoor living spaces, big open views, professional landscaping and gourmet kitchens. Location plays a key role as well, along with how the school district has been rated. 

ACTIVE HOME LISTINGS = 81 ACTIVE LOT LISTINGS = 117
up to 349k = 1 up to 99k = 6
350-499k = 3 100-199k = 34
500-699k = 19 200-299k = 31
700-999k = 31 300-499k = 37
1MM and up = 27 500k and up = 9


The median sale price for waterfront homes is $661,623, up by 4% from last year. The average DOM (days on market) for homes is down to 128 compared with 210 from last year. Sellers are also seeing offers closer to their asking price, currently 94% compared with 90% last year. The median sale price for waterfront lots is $258,948, up by 11% from last year. The average DOM for lots is down to 344 compared with 397 from last year.

Waterfront properties are selling faster and for more money. Inventory is low and demand is high. You can find details for recent waterfront sales here.  If you would like to discuss your property in more detail, please feel free to send me an email or give me a call.

 

Equal Housing Opportunity     Realtor
*All information provided is deemed reliable but is not guaranteed and should be independently verified.