Tega Cay Real Estate Report: May 2021

Published On: June 26, 2021|Categories: Buying a Home, Housing Market Reports/Updates, Selling a Home|Tags: best tega cay real estate agent, free home buyer guide, free home equity analysis, free home equity analysis for your tega cay home, free home seller guide, great homes in charlotte, search for tega cay homes, tega cay, tega cay homes for sale, tega cay housing market update, tega cay housing market update may 2021, tega cay real estate, tega cay real estate report, tega cay sc|

Tega Cay, South Carolina remained a home seller’s market in May 2021. Tega Cay’s housing market experienced much lower inventory levels and days on market in the month of May, along with higher home sale prices. Buyer demand for Tega Cay homes continued to outstrip supply of homes with pending sales down due to lack of inventory. Buyer demand and lower supply of homes show no signs of easing up.

Tega Cay, SC Housing Market Snapshot: May 2021

Latest news on the Tega Cay real estate market in May 2021 and what it means for you…

Tega Cay, South Carolina housing market remained very much a home seller’s market in May 2021 evidenced by key indicators such as lower months supply of homes, significantly less housing inventory, higher home prices and fewer days on market and fewer new listings.

Tega Cay’s months of housing inventory was 0.8 months, down 70.4% year-over-year from 2.7 months in May 2020. Housing inventory was down 65.1% year-over-year. New listings decreased 2.4% year-over-year.

Pending sales decreased 17.8% in Tega Cay in May 2021 compared with one year ago. Tega Cay’s closed sales increased 38.2% year-over-year. No doubt lack of inventory kept pending sales down.

On average, homes sold in 12 days, down 19 days compared with the same month one year ago. In May 2019 days on market were 52 days. Median days on market also decreased 4 days to just 5 days in May 2020. In May 2019, median days on market were 29 days.

Average price of sold homes increased 3% to $419,389, while the median sale price decreased 1.6% to $408,195 compared with the same month one year ago. The decrease in median home sale prices in May does not necessarily signal a drop in Tega Cay home values. Rather it’s more indicative of the price mix of homes sold in May 2021 versus May 2021. Median sale price month-over-month increase. Price per square foot was $177, up $23/square foot versus the same month one year ago.

Sellers received a median 101.3% of listing price (up 2.4% year-over year) in final sale price, showing virtually no window of opportunity for Tega Cay home buyers to negotiate.

Want to know what this would mean for your family if you decide to buy or sell a Tega Cay home?

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MORE DETAILS ON HOW THE TEGA CAY HOUSING MARKET’S PERFORMANCE

TEGA CAY HOUSING MARKET HIGHLIGHTS:

MAY 2021 VERSUS MAY 2020

Did you know…

Tega Cay has been ranked as the #2 best Charlotte suburb to live in and #2 in the Charlotte region as a best suburb to live in?

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THE 6 HOTTEST TEGA CAY, SC AREA NEIGHBORHOODS

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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!

In Polynesian, “tega cay” means beautiful peninsula… which is exactly what Tega Cay, South Carolina is… a beautiful 1600 acre peninsula on Lake Wylie just 20 miles south of Charlotte, North Carolina. The Tega Cay community began developing in the 1970’s and was originally modeled after a Polynesia resort. It includes the Tega Cay Golf Club, a 27-hole golf course, a marina, the Tega Cay Beach & Swim Center, tennis courts at the Tega Cay Tennis Club, walking trails, waterfront parks and ball fields, and so much more. The town also has its own Police Department, Fire Department and Emergency Services Squad.

Tega Cay’s motto is “Bonae Vitae/The Good Life” and once you visit and take a look around, you know exactly why that’s so.

An upscale, lake-side community, Tega Cay provides a high quality of life, reasonable cost of living, and top-rated public schools. Its small-town feeling provides security and comfort, and sitting on Lake Wylie, it also provides virtually year-round recreation, including boating, golf, tennis, and more. Tega Cay’s Park and Recreation Department is home to more than 4,500 participants annually and features youth baseball, flag football, soccer and softball. But adults are not left out with adult softball, kickball and senior games. And where else would you find both youth and adult croquet games?

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.

If you’re considering selling or purchasing a home in the Tega Cay area or anywhere in the Charlotte metro region, I’d love an opportunity to earn your business, to exceed your expectations, and to show you how:

“The Right Broker Makes All The Difference.”