Tega Cay real estate June 2022 kept home sellers in the drivers seat. Tega Cay’s housing market experienced lower inventory levels, which dropped year-over-year . The months supply of inventory was just 1.3 months. Home prices increased in June, days on market decreased. Closed sales were flat year-over-year, but pending sales were down.
Tega Cay, SC Housing Market Snapshot: June 2022
Latest news on the Tega Cay real estate market in June 2022 and what it means for you…
Tega Cay real estate kept home sellers in the driver’s eat in June 2022, evidenced by key indicators such as less housing inventory, higher home sale prices, fewer days on market, fewer new listings in June 2022 compared with June 2021.
Tega Cay’s months of housing inventory was 1.3 months, flat year-over-year. Housing inventory was down 12.5% year-over-year. New listings were down 68.4% year-over-year with just nine new home listings in the month of June.
Pending sales decreased 68.4% in Tega Cay in June 2022 compared with one year ago. This would indicate that coupled with low inventory, buyers are also pulling back from the market to some extent due to rising home prices and interest rates. Tega Cay’s closed sales were flat year-over-year.
On average, homes sold in 14 days, down two days compared with the same month one year ago. Month-over-month, average days on market were also down two days. Median days on market were less than one day in June 2022. However you slice it, homes sold quickly in June. When you compare the average 107 days on market we saw in June 2020, the change over a two year period is astounding.
Average price of sold homes increased 22.8% to $486,505, while the median sale price increased 45.8% to $494,559 compared with the same month one year ago. Price per square foot was $195, up 16.8% per square foot from $167 year-over-year.
Sellers received a median 101.7% of listing price (up 1.2% year-over year) in final sale price, showing minimal opportunity for Tega Cay home buyers to negotiate.
MORE DETAILS ON THE TEGA CAY HOUSING MARKET’S PERFORMANCE
TEGA CAY REAL ESTATE HIGHLIGHTS:
JUNE 2022 VERSUS JUNE 2021
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This Charlotte, North Carolina real estate monthly update for Tega Cay, SC is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Realty, Greater Charlotte region residential real estate experts and Tega Cay specialists. We’ve been opening doors for Tega Cay home buyers and sellers for 20+ years.
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