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.
Want to know what this would mean for your family if you decide to buy or sell a Tega Cay home?
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Tega Cay's motto is "Bonae Vitae/The Good Life" and once you visit and take a look around, you know exactly why that's so.
An upscale, lake-side community, Tega Cay provides a high quality of life, reasonable cost of living, and top-rated public schools. Its small-town feeling provides security and comfort, and sitting on Lake Wylie, it also provides virtually year-round recreation, including boating, golf, tennis, and more. Tega Cay's Park and Recreation Department is home to more than 4,500 participants annually and features youth baseball, flag football, soccer and softball. But adults are not left out with adult softball, kickball and senior games. And where else would you find both youth and adult croquet games?
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: