Tega Cay Real Estate February 2024

TEGA CAY REAL ESTATE FEBRUARY 2024: HIGHLIGHTS

Tega Cay real estate February 2024 saw sales increase 60% month-over-month and 20% year-over-year. Sale prices declined compared with both one month and one year ago. This decline is likely due more to the price mix of homes sold than a real decline in Tega Cay home values.  Days on market declined 31+% to 37 days.  New listings increased 55+% from January and almost 65% compared with February one year ago. Housing inventory increased after declining four consecutive months.  The months supply of inventory declined to 2.75 months from 4.0 months in January 2024,  moving Tega Cay back to a home seller’s market. The list to sale price ratio improved 2.46% to 99.1%  month-over-month. 

TEGA CAY REAL ESTATE FEBRUARY 2024 SALES TRENDS SNAPSHOT

HOUSING INVENTORY IN TEGA CAY INCREASED AFTER DECLINING FOUR CONSECUTIVE MONTHS

Tega Cay’s number of properties for sale in February 2024 increased 8.2% to 66 from the previous month of January which saw 61 properties for sale. Compared with February 2023, Tega Cay had 1.49% less inventory than in February 2023 (equal to one property). February 2024 also saw more inventory compared with February 2022, which had 63 properties for sale.  Month-over-month, the months supply of inventory declined to 2.75 months from 4.0 months in January pushing Tega Cay back into a seller’s market.

NEW LISTINGS INCREASED 

New listings in Tega Cay increased 55.56% to 28 in February from 18 new listings in January 2024. Compared with February 2023, new listings were 64.71% higher. New listings in Tega Cay were at  mid-level compared with February 2023 (17 new listings) and February 2022 (42 new listings).

TEGA CAY SALES UP 60%

Tega Cay had 24 closed sales in February 2023, up 60% from 15 sales in the previous month.  Sales increased 20% compared with February one year ago, which saw 20 sales. Sales also increased compared with February 2022, which saw 22 sales. The February 2024 sales were at their highest level since September 2023.

DAYS ON MARKET DOWN AFTER REACHING THEIR HIGHEST LEVEL SINCE 2021

On average, Tega Cay homes sold in 37 days in February 2024, decreasing 31.48% from 54 days from January 2024. Days on market declined 2.63% from 38 days compared with February 2023. Days on market were 22 days higher than in February 2022. 

TEGA CAY HOME SALE PRICES DECLINED MONTH-OVER-MONTH & YEAR-OVER-YEAR

Average price of sold homes in February 2024 was $434,007, down 11.67% from the prior month of January.  Compared with February 2023, average sale price was 10.9% lower at $491,327. The February 2024 average sale price was at its lowest level compared with February 2023 and 2022.

Median sale price of Tega Cay homes was $371,250, down 7.65% from $402,00 in the previous month of January. Median sale price decreased 12.8% from $425,750 year-over-year. The February 2024 median sale price was at its lowest level compared with February 2023 and 2022.

Price per square foot was $220 in February 2024, up 5.26% from $209 in the previous month of January. Compared with February 2023, price per square foot was 7.32% higher than the $205 one year ago.

TEGA CAY HOMES LIST TO SALE PRICE RATIO UP 2.46% FROM ONE MONTH AGO

Sellers received 99.1% of listing price in February 2024, up from 96.64% in the prior month and up from 98.1% in February one year ago.

 

MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC

ROLLING 12-MONTH AVERAGE

 

 

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?

 

I can help.

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

There’s absolutely NO OBLIGATION. A consultation with Nina Hollander is FREE. 

 

 

 

Did you know… Tega Cay has been ranked by niche.com as…

• The #2 best place/suburb to live in in the Charlotte metro area?
• 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?

SEARCH TEGA CAY, SC AREA HOMES HERE

 

FREE Home Buyer Guide “Things To Consider When Buying A Home”

 

WONDERING WHAT YOUR TEGA CAY AREA HOME IS WORTH?

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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 TENNIS & GOLF CLUB: VIDEO

 

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?

 

 

TEGA CAY TRAIL & RIVER LAUNCH: VIDEO

 

This Charlotte, North Carolina real estate monthly update for Tega Cay, SC 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.

 

If you’re considering selling or purchasing a home in Tega Cay or anywhere in the Greater Charlotte 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.”

 

 

PREVIOUS TEGA CAY REAL ESTATE UPDATES 

Tega Cay Real Estate Update: January 2024

Tega Cay Real Estate Update: December 2023  Tega Cay Real Estate Update: November 2023

Tega Cay Real Estate Update: October 2023   Tega Cay Real Estate Update: September 2023

Tega Cay Real Estate Update: August 2023  Tega Cay Real Estate Update: July 2023

Tega Cay Real Estate Update: June 2023  Tega Cay Real Estate Update: May 2023

Tega Cay Real Estate Update: April 2023  Tega Cay Real Estate Update: March 2023

Tega Cay Real Estate Update: February 2023