Tega Cay, South Carolina remained a home seller’s market in February 2021. Tega Cay’s housing market experienced much lower inventory levels and days on market in the month of February, 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.
Tega Cay, SC Housing Market Snapshot: February 2021
Latest news on the Tega Cay real estate market in February 2021 and what it means for you…
Tega Cay, South Carolina housing market remained very much a home seller’s market in February 2021 evidenced by key indicators such as lower months supply of homes, significantly less housing inventory, increasing home prices and lower days on market.
Tega Cay’s months of housing inventory was 0.8 months, down 71.4% year-over-year from 2.8 months in February 2020; housing inventory was down 67% year-over-year. New listings decreased 33.3% year-over-year.
Pending sales increased 3.8% in Tega Cay in February 2021 compared with one year ago. Tega Cay’s closed sales increased 68.8% year-over-year.
On average, homes sold in 14 days, down 37 days compared with the same month one year ago. Median days on market also decreased 29 days to just 3 days in February 2021.
Average price of sold homes increased 23.9% to $401,930, while the median sale price increased 24.6% to $403,566 compared with the same month one year ago. Price per square foot was $167, up $32/square foot versus the same month one year ago.
Sellers received a median 100% of listing price (up 3.3% year-over year) in final sale price showing virtually no window of opportunity for Tega Cay home buyers to negotiate.
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TEGA CAY HOUSING MARKET HIGHLIGHTS:
FEBRUARY 2021 VERSUS FEBRUARY 2020
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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!
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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