Tega Cay, South Carolina remained a home seller’s market in June 2020. The pandemic continued to impact Tega Cay’s housing with much lower inventory levels, days on market, closed sales, higher home prices. Buyer demand for Tega Cay homes continues to outstrip supply of homes for sale. with fewer new listings coming on market.
Tega Cay, SC Housing Market Snapshot: June 2020
Latest news on the Tega Cay real estate market in June and what it means for you…
Tega Cay, South Carolina housing market continued to be impacted by the pandemic in June, evidenced by key indicators such as lower months supply of homes, less housing inventory, fewer new listings, fewer closed sales, which sold more quickly and at higher prices. Pending sales were up showing continued buyer demand exceeding supply of homes.
Tega Cay’s months of housing inventory was 1.5 months, down 61.5% year-over-year from 3.9 months in June 2019; housing inventory was down 59.5% year-over-year and new listings were down 43.3% year-over-year.
Pending sales increased 12.1% in Tega Cay in June 2020 compared with one year ago. Tega Cay’s closed sales decreased 23.4% year-over-year. Lack of housing inventory, no doubt, contributed to this drop in home sales in the month of June.
On average, homes sold in 52 days, down 17 days compared with the same month one year ago. Median days on market also decreased by 1 days to 33 days in June 2020.
Average price of sold homes increased 0.6% to $392,100, while the median sale price increased 8.6% to $396,250 versus the same month one year ago. Price per square foot was $135. Sellers received 96.6% of listing price in final sale price showing a small opportunity for Tega Cay home buyers to negotiate.
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TEGA CAY HOUSING MARKET HIGHLIGHTS:
JUNE 2020 VERSUS JUNE 2019
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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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