Tega Cay Real Estate Report: September 2020

Published On: October 24, 2020|Categories: Buying a Home, Housing Market Reports/Updates, Selling a Home|Tags: 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 september 2020, tega cay real estate, tega cay real estate report, tega cay sc|

Tega Cay, South Carolina remained a home seller’s market in September 2020. Tega Cay’s housing market experienced much lower inventory levels and days on market in the month of Septembe. Due to lack of inventory and new listings, closed sales were down. Buyer demand for Tega Cay homes continues to outstrip supply of homes for sale, as evidenced by higher pending sales in September.

Tega Cay, SC Housing Market Snapshot: September 2020

Latest news on the Tega Cay real estate market in September 2020 and what it means for you…

Tega Cay, South Carolina housing market was very much a home seller’s market in September 2020 as evidenced by key indicators such as lower months supply of homes, considerably less housing inventory, fewer new listings, fewer closed sales, which sold more quickly. Pending sales were up showing continued buyer demand exceeding supply of homes.

Tega Cay’s months of housing inventory was 1.5 months, down 55.9% year-over-year from 3.4 months in September 2019; housing inventory was down 52.8% year-over-year, while new listings were down 2.4% year-over-year.

Pending sales increased 21.2% in Tega Cay in September 2020 compared with one year ago. Tega Cay’s closed sales decreased 27% year-over-year. Lack of housing inventory, no doubt, contributed to this drop in home sales in the month of September.

On average, homes sold in 20 days, down 23 days compared with the same month one year ago. Median days on market also decreased by 15 days to 6 days in September 2020.

Average price of sold homes decreased 4.7% to $362,622, while the median sale price increased 2% to $3970,000 versus the same month one year ago. The drop in average sale price should not be attributed to a drop in Tega Cay home values. Rather, it’s more reflective of the price mix of homes sold in September, as Tega Cay home prices can range from the $200,000’s to well over $1 million.

Price per square foot was $159, up by $9/square foot.

Sellers received 98.7% of listing price (up 0.9% year-over year) in final sale price showing a very small 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 PERFORMED IN SEPTEMBER 2020

TEGA CAY HOUSING MARKET HIGHLIGHTS:

SEPTEMBER 2020 VERSUS SEPTEMBER 2019

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 10 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.”