Lake Wylie Real Estate May 2024
Lake Wylie Real Estate May 2024 Highlights
Lake Wylie real estate May 2024 saw both median and average sale prices decline, most likely due to the price mix of homes that sold and not to a decline in home values in Lake Wylie. The number of properties sold increased 75% from one month ago after declining 50% in the previous month of April. Sales were down slightly from one year ago in May. Days on market declined almost 46% from one month ago and were down by one day from one year ago. New listings declined a fourth consecutive month to their second lowest level in 2024. Inventory levels remained steady month-over-month and year-over-year. The months supply of inventory declined to 3.86 months from 6.75 months in April 2024, pushing Lake Wylie back into a home seller’s market. The list to sale price ratio of 99.11% provided home buyers a very small window of opportunity to negotiate on sale price.
Lake Wylie Real Estate May 2024 Snapshot
HOME SALE PRICES DECLINED
Average sale price in May 2024 was $572,000, down 17.16% from $690,500 in the previous month of April. Year-over-year, the average home sale price was 3.34% lower than in May 2023 when it was $591,778. It’s likely that these declines are due to the price mix of homes sold in May and not due to a decrease in home values in Lake Wylie.
Median home sale price in May 2024 was $500,000, down 21.75% from $639,000 in the previous month of April. The median home sale price declined 10.71% from $560,000 in May 2023. It’s likely that these declines are due to the price mix of homes sold in May and not due to a decrease in home values in Lake Wylie.
Price per square foot in May 2024 was $223, down 6.69% from the previous month of April when it was $239. The price per square foot was 5.19% higher than the $212 in May one year ago.
DAYS ON MARKET DECLINED ALMOST 46% FROM ONE MONTH AGO
Days on market in May 2024 were 31 days, down 45.61% from 57 days one month ago. Year-over-year, average days on market declined 3.12% from 32 days compared with May 2023. Compared with May 2022, current days on market were 13 days higher in 2024. May’s days on market were the lowest Lake Wylie has seen in 2024.
LAKE WYLIE HOUSING INVENTORY STABLE IN 2024
The number of properties for sale in May 2024 was 81, down 1.22% from 82 properties for sale one month ago. Inventory was 1.22% lower than the 82 properties for sale in May one year ago. March 2024 inventory was slightly lower than the 83 properties for sale in May 2022.
The months supply of homes decreased to 3.86 months from 6.75 months in the previous month of April, pushing Lake Wylie back into home sellers “territory.”
NEW LISTINGS DOWN A FOURTH CONSECUTIVE MONTH
The number of new listings in May 2024 was 17, down by three listings from the previous month of April. New listings declined 34.62% compared with May one year ago (26 new listings) and were lower by 14 listings from May two years ago.
LAKE WYLIE SALES UP MONTH-OVER-MONTH | DOWN YEAR-OVER-YEAR
Sales in May 2024 improved 75% to 21 from 12 in the most recent month of April. Sales declined 8.7% from 23 in May one year ago. Compared with May 2022, sales were lower by six sales. May 2024 sales were at their second highest level in 2024.
LIST TO SALE PRICE RATIO UP MONTH-OVER-MONTH & YEAR-OVER-YEAR
The May 2024 selling price of 99.11% of list price increased from 98.31% in the previous month of April and was equal to the list to sale price ratio of May one year ago. Lake Wylie home buyers saw a very small window of opportunity to negotiate on home price in May 2024.
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LAKE WYLIE REAL ESTATE MEDIAN HOME PRICE TRENDS
(12 Month Rolling Average)
DID YOU KNOW…
Lake Wylie has been rated the #1 best place to live in South Carolina?
Lake Wylie has been rated the #12 best place/suburb to raise a family in South Carolina?
Lake Wylie has been rated the #9 best suburb to raise a family in the Charlotte area?
(rankings provided by niche.com)
LAKE WYLIE LIFESTYLE
Discover the Allure of Lake Wylie
Nestled along the North and South Carolina border, Lake Wylie embodies the epitome of idyllic Southern living. With its tranquil waters, picturesque landscapes, and vibrant community spirit, it’s no wonder why this charming town has become an increasingly desirable destination for those seeking a perfect blend of natural beauty, modern conveniences, and a close-knit community atmosphere. Lake Wylie residents take pride in their town, actively participating in various community events and festivals throughout the year. From neighborhood block parties and farmers’ markets to charity fundraisers and volunteer opportunities, there’s always something happening in Lake Wylie to bring residents together and foster meaningful connections.
Lake Wylie’s allure lies its stunning natural surroundings. Named after the expansive Lake Wylie, which spans over 13,000 acres, the town offers residents unparalleled access to water-based recreational activities such as boating, fishing, and kayaking. The glistening waters of the lake provide a serene backdrop for leisurely strolls along its shores, while the surrounding wooded areas offer endless opportunities for exploration and outdoor adventure. More information about Lake fishing and waterways.
Lake Wylie’s proximity to Charlotte, NC, provides residents with easy access to employment opportunities, cultural attractions, and urban amenities while still allowing them to retreat to the tranquility of small-town living at the end of the day.
Whether you’re in the market for a waterfront retreat, a cozy suburban home, or a spacious estate with scenic views, Lake Wylie offers a diverse range of real estate options to suit every taste and budget. Waterfront properties provide unparalleled access to the lake and breathtaking sunset views, while inland neighborhoods boast well-designed homes nestled amidst lush greenery and manicured landscapes. Whatever your preference, you’ll find that Lake Wylie offers the perfect balance of natural beauty and modern comfort, making it an ideal place to call home.
Contact Nina Hollander with Coldwell Banker Realty if you’d like more information about the buying or selling a home in Lake Wylie (or in any Greater Charlotte neighborhood, for that matter). I’ve been opening doors for Lake Wylie home buyers and sellers since 1999.
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PREVIOUS LAKE WYLIE REAL ESTATE REPORTS
Lake Wylie Real Estate Report: April 2024
Lake Wylie Real Estate Report: March 2024
