Tega Cay, South Carolina Real Estate Report/Housing Market
At A Glance: February 2020
Latest news on the Tega Cay real estate market and what it means for you...
The Tega Cay housing market remained a seller's market in February 2020 with just 2.6 months of inventory, down 23.5% year-over-year from 3.4 months. Housing inventory was down 10.6% year-over-year and new listings increased 2.9% year-over-year (equivalent to just one new home more).
Pending sales increased 31.8% in Tega Cay in February compared with one year ago. Tega Cay's closed sales increased 60% year-over-year.
On average, homes sold in 51 days, down 21 days compared with the same month one year ago and down 11 days from the month of January 2020. Median days on market were 32, down 7 days year-over-year.
Average price of sold homes decreased 12.5%, while the median sale price decreased 0.8%. The drop in average and median sale prices should not be attributed to a drop in Tega Cay home values. Rather, it's more reflective of the price mix of homes sold in February. Price per square foot was $135, flat year-over-year.
Sellers received 96.8% of listing price in final sale price, showing a small window of opportunity for buyers to negotiate.
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TEGA CAY HOUSING MARKET HIGHLIGHTS:
FEBRUARY 2020 VERSUS FEBRUARY 2019
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MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC
Tega Cay on Lake Wylie is All About Location, Location, Location and Lifestyle, Lifestyle, Lifestyle!
This Charlotte, North Carolina real estate monthly update for Tega Cay, SC is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Realty, your Charlotte metro area residential real estate experts and Tega Cay specialists. We've been opening doors for Tega Cay home buyers and sellers for 20+ years.
If you're considering selling or purchasing a home in the Tega Cay area or anywhere in the Charlotte metro region, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:
Previous Tega Cay Housing Market Updates
Original blog post can be read at: www.GreatHomesInCharlotte.com