Tega Cay Real Estate Report: May 2022

Tega Cay, South Carolina remained a home seller’s market in May 2022. Tega Cay’s housing market experienced significantly lower inventory levels, which dropped 48.8% year-over-year . The months supply of inventory was just 0.6 months. Buyer demand for Tega Cay homes continued to outstrip supply of homes increasing home prices. Closed and pending sales were down in May 2022.

Tega Cay, SC Housing Market Snapshot: May 2022

 

Latest news on the Tega Cay real estate market in May 2022 and what it means for you…

Tega Cay, SC Housing Market UpdateTega Cay, South Carolina housing market remained very much a home seller’s market in May 2022 evidenced by key indicators such as lower months supply of homes, significantly less housing inventory, and record high median home prices in May 2022 compared with May 2021.

 

Tega Cay’s months of  housing inventory was 0.6 months, down 45.5% year-over-year from 1.1 months in May 2021 and 2.7 months in May 2020. Housing inventory was down 48.8% year-over-year. New listings were flat year-over-year.

 

Pending sales decreased 2.7% in Tega Cay in May 2022 compared with one year ago. Tega Cay’s closed sales decreased 57.1% year-over-year.

 

On average, homes sold in 16 days, up four days compared with the same month one year ago. Month-over-month, average days on market increased by eight days. Median days on market were six days in May 2022, up one day year-over-year.

 

Average price of sold homes increased 19.4% to $497,590, while the median sale price increased 23.0% to $502,000 compared with the same month one year ago.  Price per square foot was $228, up 29.58% per square foot from $176 year-over-year, setting a new record high for price per square foot for Tega Cay homes.

 

Sellers received a median 104.1% of listing price (up 3.0% year-over year) in final sale price, showing virtually minimal opportunity for Tega Cay home buyers to negotiate.

 

MORE DETAILS ON THE TEGA CAY HOUSING MARKET’S PERFORMANCE

 

TEGA CAY HOUSING MARKET HIGHLIGHTS:

MAY 2022 VERSUS MAY 2021

`Tega Cay, SC Home Sales Update For May 2022

 

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

Contact Nina Hollander if you're curious about the Charlotte real estate market

 

We can help.

Call us today at 704-779-0813 or contact us here.

There’s absolutely NO OBLIGATION. A consultation with Carolinas Realty Partners is FREE. 

 

 

 

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? 

 

SEARCH TEGA CAY, SC AREA HOMES HERE

 

  FREE Home Buyer Guide “Things To Consider When Buying A Home” 

 

WONDERING WHAT YOUR TEGA CAY AREA HOME IS WORTH?

What's My Home Worth? 

Contact us if you’d like to receive our Neighborhood Analyzer Report on a monthly basis so you can keep track of home sales activity in your neighborhood.

We’re happy to provide an expert home value analysis with no obligation on your part.

 

 FREE  Home Seller Guide: “Things To Consider When Selling Your House”

 

Need Help With Home Renovations/Updates Before Listing Your Home For Sale?

ASK US ABOUT COLDWELL BANKER’S REALVITALIZE PROGRAM

 

RealVitalizeSM is an exclusive Coldwell Banker program that helps with improvements and repairs to prepare your home for sale. We cover upfront costs and get paid back when your home sells. No hidden fees, interest charges or markups.

 

RealVitalize Home Improvement Program By Coldwell Banker

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE 

 

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, Greater Charlotte region 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 why experience matters and how: 

“The Right Broker Makes All The Difference.”

 

Find Your Dream Home In Tega Cay


 

 

[brew-blog-toc]