February 2025 Tega Cay, SC Housing Market Report:
Prices, Sales, Inventory Trends
In February 2025, Tega Cay experienced a significant rise in both median and average home prices, both month-over-month and year-over-year. The real estate market also saw its highest level of home inventory in three years. The average days on market increased by nine days compared with the previous month and by eight days from February 2024.
New listings remained relatively stable, with just one additional listing month-over-month, though they were down by five compared with the previous year.
Home sales surged by over 36% from the prior month but declined by 37.5% year-over-year. The months supply of inventory fell to 6.67 months from 8.27 months, nonetheless keeping Tega Cay in home buyer "territory."
The list-to-sale price ratio held steady at 98.27%, unchanged from both the previous month and year. Despite the increased inventory and longer days on the market, home buyers in Tega Cay had limited opportunities to negotiate on price.
TEGA CAY REAL ESTATE: FEBRUARY 2025 SNAPSHOT
HOUSING INVENTORY AT ITS HIGHEST LEVEL IN THREE YEARS
Tega Cay properties for sale in February 2025 increased 8.7% to 100 from 92 in the previous month of January. Compared with February 2024, Tega Cay inventory was 44.93% higher than the 69 properties one year ago. Tega Cay inventory was also higher than in February 2023 when it stood at 69 properties for sale.
MONTHS SUPPLY OF INVENTORY PUTS TEGA CAY IN A HOME BUYER'S MARKET
Tega Cay's months supply of inventory in February 2025 declined to 6.67 months from 8.27 months in January 2025,keeping Tega Cay in a home buyer's market.
NEW LISTINGS
New listings in Tega Cay increased in February 2025 to 23 from 22 in the previous month of January. Compared with February 2024, new listings declined by five in the current year. New listings in February 2025 were higher than in February 2023 when Tega Cay had 17 new listings come on market.
TEGA CAY SALES UP MONTH-OVER-MONTH | DOWN YEAR-OVER-YEAR
Tega Cay had 15 sales in February 2025, up 36.36% from 11 sales in the previous month of January. The number of sales was 37.5% lower than in February 2024, which saw 24 sales. Sales in February 2025 were also lower compared with February 2023, which saw 20 sales.
DAYS ON MARKET UP
Average days on market in Tega Cay increased to 45 days from 36 in the previous month of January. Days on market in February 2025 were 8 days higher than in February one year ago and 7 days higher than in February 2023.
TEGA CAY HOME SALE PRICES UP
Average sale price in February 2025 was $602,782, up 16.34% from $518,126 in the previous month of January. Compared with February 2024, average sale price was 38.89% higher than the $434,007 one year ago. Tega Cay's average sale price was at its highest level compared with February 2024 and 2023.
Median sale price of Tega Cay homes in February 2025 increased 17.5% to $564,000 from $480,000 in the previous month of January. Year-over-year, Tega Cay's media sale price increased 51.92% from $371,250. Tega Cay's median sale price was at its highest level compared with February 2024 and 2023.
Price per square foot was $259 in February 2025, up 5.71% from $245 in the previous month of January. Compared with February 2024, price per square foot was 17.73% higher than $220 one year ago.
TEGA CAY HOMES LIST TO SALE PRICE RATIO UNCHANGED
Sellers received 98.27% of listing price in February 2025 , equal to both the previous month and the previous year. Despite increased inventory and days on market, Tega Cay home buyers saw just a small window of opportunity to negotiate on price in February 2025.
MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC
ROLLING 12-MONTH AVERAGE
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- The #1 best place/suburb to live in South Carolina?
- The #1 best place/suburb to raise a family in South Carolina?
- The #2 best place/suburb for public schools in South Carolina?
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This Charlotte, North Carolina update for Tega Cay real estate is provided by Nina Hollander, Coldwell Banker Realty, Greater Charlotte residential real estate expert and Tega Cay specialist. I've been opening doors for Tega Cay home buyers and sellers since 1999.
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