Tega Cay, South Carolina remained a home seller’s market in April 2021. Tega Cay’s housing market experienced much lower inventory levels and days on market in the month of April, along with higher home sale prices. Buyer demand for Tega Cay homes continued to outstrip supply of homes for sale with closed and pending sales up. Buyer demand and lower supply of homes show no signs of easing up.
Tega Cay, SC Housing Market Snapshot: April 2021
Latest news on the Tega Cay real estate market in April 2021 and what it means for you…
Tega Cay, South Carolina housing market remained very much a home seller’s market in April 2021 evidenced by key indicators such as lower months supply of homes, significantly less housing inventory, increasing home prices and fewer days on market and fewer new listings.
Tega Cay’s months of housing inventory was 0.7 months, down 78.1% year-over-year from 3.2 months in April 2020. Housing inventory was down 73.1% year-over-year. New listings decreased 6.8% year-over-year.
Pending sales increased 32.4% in Tega Cay in April 2021 compared with one year ago. Tega Cay’s closed sales increased 23.1% year-over-year.
On average, homes sold in 11 days, down 22 days compared with the same month one year ago and down 13 days month-over-month. In April 2019 days on market were 81 days. Median days on market also decreased 10 days to just 2 days in April 2021. In April 2019, median days on market were 31 days.
Average price of sold homes increased 23.8% to $460,445, while the median sale price increased 2.9% to $396,305 compared with the same month one year ago. April average home prices in Tega Cay were about $37,000 higher than in the prior month of March 2021. Median home prices in April was about $35,000 higher month-over-month. Price per square foot was $182, up $42/square foot versus the same month one year ago.
Sellers received a median 102% of listing price (up 2.9% year-over year) in final sale price, showing virtually no window of opportunity for Tega Cay home buyers to negotiate.
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MORE DETAILS ON HOW THE TEGA CAY HOUSING MARKET’S PERFORMANCE
TEGA CAY HOUSING MARKET HIGHLIGHTS:
APRIL 2021 VERSUS APRIL 2020
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MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC
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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, 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.
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