Tega Cay, SC Real Estate Report And Community Spotlight: December 2021

By
Real Estate Agent with Coldwell Banker Realty

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

 

TEGA CAY HOUSING MARKET HIGHLIGHTS:

DECEMBER 2021 VERSUS DECEMBER 2020

Tega Cay, SC Real Estate Sales Update For December 2021

 

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

 

Tega Cay's months of  housing inventory was 0.7 months, down 41.7% year-over-year from 1.2 months in December 2020 and 2.5 months in December 2019.  Housing inventory was down 39.5% year-over-year. New listings increased 25% year-over-year and sold as quickly as they came on market.

 

Pending sales increased 28% in Tega Cay in December 2021 compared with one year ago, most likely due to the uptick in new listings during the month. Tega Cay's closed sales decreased 43.2% year-over-year. Lack of inventory in previous months, no doubt, contributed to the lower sales.

 

On average, homes sold in 17 days, down 5 days compared with the same month one year ago and down 5 days month-over-month. In December 2019, average days on market were 71.  Median days on market  decreased 4 days to just 3 days in December 2021 and down 2 days month-over-month. In December 2019 median days on market were 68.

 

Pent-up demand for Tega Cay homes was also evident in the number of average showings per listing in December 2021. On average, listed homes had 15.1 showings, up 51% from 10 showings in December 2020 and from 7.4 showings in December 2019. Clearly, it's a matter of more buyers "chasing" after fewer homes.

 

Average price of sold homes increased 6.9% to $459,651, while the median sale price dropped slightly by 0.5% to $403,065 compared with the same month one year ago. The slight drop in median home sales is less an indicator of home values dropping in Tega Cay than that of the price mix of homes sold in the month.

 

Price per square foot was $194, up 18.3% per square foot versus the same month one year ago. 

 

Sellers received a median 101.1% of listing price (up 1.1% year-over year) in final sale price, showing virtually no window of opportunity for Tega Cay home buyers to negotiate.

 

MORE DETAILS ON THE TEGA CAY HOUSING MARKET'S PERFORMANCE

 

  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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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? 

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THE 6 HOTTEST TEGA CAY, SC AREA NEIGHBORHOODS  

 

Hot Fort Mill/Tega Cay Neighborhoods

 

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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
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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 (14)

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

Good afternoon Nina,

What a wonderful comprehensive report on the state of affairs in Tega Cay South Carolina.  Wishing a wonderful weekend.  A

Jan 21, 2022 11:51 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel thanks, Alexandra... this was quite the month for Tega Cay... an increase in new listings, but they sold so fast it was like it never happened!

Jan 21, 2022 02:21 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Very detailed report with all the numbers showing a hot market,  Inventory very low, sales off as no inventory, yet prices still on the rise

Jan 21, 2022 02:52 PM
Kathy Streib
Cypress, TX
Retired Home Stager/Redesign

Hi Nina- excellent market report on Tega Cay. And it looks as if they are proof again at the out-of-sight housing market in the Charlotte area. 

Jan 21, 2022 04:36 PM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Those numbers are quite crazy and it is even crazier that it has been this way for so long.

Jan 22, 2022 04:03 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ed Silva hi Ed... I don't expect rising home prices in Tega Cay (or anywhere else, for that matter) to diminish without more inventory coming on the market.

Jan 22, 2022 04:49 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England good morning, Brian... that's really the point! Just amazing that this market has continued for so long and will continue to do so for the foreseeable future.

Jan 22, 2022 04:49 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib good morning, Kathy... our market is not really cooling off as yet, unless you count the snow we got overnight and the low temperatures this morning! :) I believe Texas is experiencing some very cold temperatures, as welll.

Jan 22, 2022 04:51 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Saturday morning, Nina.

Have a very special weekend. We have a sunny day in Maryland and are thankful that the snow storm did not reach our area. Our family members in Norfolk have lots of snow.

Jan 22, 2022 05:48 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley good morning, Roy... sunny here too, but just 24 degrees and two inches of snow on the ground! More than they were predicting a day ago. Wishing you and Dolores a lovely weekend.

Jan 22, 2022 06:09 AM
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Hello Nina.  No inventory and incredibly enhanced prices from just one year ago make it difficult putting market reports into proper perspective.  Good work on yours.  M

Jan 22, 2022 07:20 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Jan 22, 2022 09:08 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, think I missed this market update for Tega Cay, and looks very similar to the rest of Charlotte - low on inventory, higher home values.

Jan 24, 2022 07:40 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... sometimes I think I should just write one report and for all subsequent reports just say "refer to my post of whatever date." :)

Jan 24, 2022 02:10 PM
Joan Cox

Same as mine, the market is crazy, and little to no days on market....repeat....

Jan 24, 2022 03:11 PM