Tega Cay's Months Supply Of Homes Down 60% In August 2021, Year-Over-Year

By
Real Estate Agent with Coldwell Banker Realty

Latest news on the Tega Cay real estate market in August 2021 and what it means for you...

 

Tega Cay, South Carolina housing market remained very much a home seller's market in August 2021 evidenced by key indicators such as lower months supply of homes, significantly less housing inventory, higher home prices,  fewer days on market, and a decrease in new listings in August 2021 compared with August 2020.

 

Tega Cay's months supply of  housing inventory was 0.8 months, down 60 .0% year-over-year from 2.0 months in August 2020 and 3.5 months in August 2019. Housing inventory was down 51.6% year-over-year. New listings decreased 4.3% year-over-year.

 

Pending sales increased 231.1% in Tega Cay in August 2021 compared with one year ago. Tega Cay's closed sales increased 13.2% year-over-year. 

 

On average, homes sold in 20 days, down 15 days compared with the same month one year ago.  Median days on market also decreased 7 days to just 3 days in August 2020.

 

Pent-up demand for Tega Cay homes was also evident in the number of average showings per listing in August 2021. On average, listed homes had 14.2 showings, up 29.1% from 11 showings in August 2020 and from 9.3 showings in August 2019. Clearly, it's a matter of more buyers "chasing" after fewer homes.

 

Average price of sold homes increased 23.9% to $453,724, while the median sale price increased 27.9% to $431,740 compared with the same month one year ago.   Average sale prices in Tega Cay compared with August 2019 are $90,000 higher, while median home sale prices have increased almost $77,000 over the past two years. Price per square foot was $190, up 25.8% per square foot versus the same month one year ago.

 

Sellers received a median 102.3% of listing price (up 2.3% year-over year) in final sale price, showing virtually no window of opportunity for Tega Cay home buyers to negotiate.

 

  Want to know what this would mean for your family if you decide to buy or sell a Tega Cay home?    

Curious about Tega Cay real estate? Call Nina Hollander

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Call us today at 704-779-0813 or contact us here.

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MORE DETAILS ON THE TEGA CAY HOUSING MARKET'S PERFORMANCE

 

TEGA CAY HOUSING MARKET HIGHLIGHTS:

AUGUST 2021 VERSUS AUGUST 2020

Tega Cay, SC Housing Market Snapshot For August 2021

  

Did you know... 

Tega Cay has been ranked as the #2 best Charlotte suburb to live in and #2 in the Charlotte region as a best suburb to live in? 

Why not check out...

THE 6 HOTTEST TEGA CAY, SC AREA NEIGHBORHOODS  

 

Hot Fort Mill/Tega Cay Neighborhoods

 

SEARCH TEGA CAY, SC AREA HOMES HERE

 

  FREE Home Buyer Guide "Things To Consider When Buying A Home" 

 

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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!

 

In Polynesian, "tega cay" means beautiful peninsula... which is exactly what Tega Cay, South Carolina is... a beautiful 1600 acre peninsula on Lake Wylie just 20 miles south of Charlotte, North Carolina. The Tega Cay community began developing in the 1970's and was originally modeled after a Polynesia resort. It includes the Tega Cay Golf Club, a 27-hole golf course, a marina, the Tega Cay Beach & Swim Center, tennis courts at the Tega Cay Tennis Club, walking trails, waterfront parks and ball fields, and so much more. The town also has its own Police Department, Fire Department and Emergency Services Squad.
 
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?
 

 

This Charlotte region 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 why experience matters and how: 

"The Right Broker Makes All The Difference."

 

 

 

Read the original post at www.GreatHomesInCharlotte.com

 

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From The Greater Charlotte Area
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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comments (10)

Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

What a wonderfully thorough report on Tega Cay in South Carolina.  Your market is continued to be hot!  We are seeing cooling down and more inventory is more locations.  A

Sep 28, 2021 09:16 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel hi Alexandra... we are seeing a touch more inventory in the region, as a whole, but at the end of the day a few hundred more properties for sale makes little impact on rising home prices and availability of homes for buyers.

Sep 28, 2021 09:21 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will love your outstanding local real estate reports.

Sep 28, 2021 10:15 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley thank you, Roy. Trust you've been having a good day... we've had gorgeous weather here in Charlotte since last week and will be having more of it through the weekend.

Sep 28, 2021 10:17 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina that is a HUGE reduction in inventory from last year.  Hopefully more homes start to come on the market.

Sep 28, 2021 12:29 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto hi George... Tega Cay is a small penninsula and never has a lot of listings, so 40% fewer listings is something that is felt.

Sep 28, 2021 02:13 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, Tega Cay is way behind on listings, and would have thought it would be about the same from last year this time.

Sep 28, 2021 03:51 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan...as of August we've not seen a big improvement over last year. In fact, inventory is down, days on market down, home prices up. I'll be watching for September numbers carefully.

Sep 29, 2021 03:20 AM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Tega Cay home buyers and sellers are certain to value your real estate market report, Nina.

Sep 29, 2021 09:55 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat good Thursday morning, Myrl. Thanks for popping by and trust you've had a good week thus far.

Sep 30, 2021 04:27 AM