Tega Cay, South Carolina remained a home seller’s market in March 2021. Tega Cay’s housing market experienced much lower inventory levels and days on market in the month of March, along with higher average 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: March 2021
Latest news on the Tega Cay real estate market in March 2021 and what it means for you…
Tega Cay, South Carolina housing market remained very much a home seller’s market in March 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 73.3% year-over-year from 3 months in March 2020. Housing inventory was down 69% year-over-year. New listings increased 7.7% year-over-year, but did little to alleviate the inventory shortage.
Pending sales increased 55.9% in Tega Cay in March 2021 compared with one year ago. Tega Cay’s closed sales increased 7.4% year-over-year.
On average, homes sold in 24 days, down 26 days compared with the same month one year ago. Median days on market also decreased 12 days to just 4 days in March 2021.
Average price of sold homes increased 6.9% to $423,672, while the median sale price decreased 3.1% to $361,00 compared with the same month one year ago. The decrease in median home sale prices has less to do with a drop in values and more with the price mix of homes sold in Tega Cay in March. March home prices in Tega Cay were about $22,000 higher on average compared with the prior month of February. Price per square foot was $177, up $34/square foot versus the same month one year ago.
Sellers received a median 100% of listing price (up 1.6% 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:
MARCH 2021 VERSUS MARCH 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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