Tega Cay, South Carolina remained a home seller’s market in September 2021. Tega Cay’s housing market experienced significantly lower inventory levels and days on market in the month of September, along with higher average and median home sale prices. Buyer demand for Tega Cay homes continued to outstrip supply of homes with new listings down. Buyer demand and lack of supply of homes show no signs of easing up.
Tega Cay, SC Housing Market Snapshot: September 2021
Latest news on the Tega Cay real estate market in September 2021 and what it means for you…
Tega Cay, South Carolina housing market remained very much a home seller’s market in September 2021 evidenced by key indicators such as lower months supply of homes, significantly less housing inventory, higher home prices, fewer days on market, and a decrease in new listings in September 2021 compared with September 2020.
Tega Cay’s months of housing inventory was 0.6 months, down 68.4% year-over-year from 1.9 months in September 2020 and 3.4 months in September 2019. The months of housing inventory also dropped from August 2021 by 0.2 months. Housing inventory was down 60.3% year-over-year. New listings decreased 41.5% year-over-year.
Pending sales decreased 23.1% in Tega Cay in September 2021 compared with one year ago. Tega Cay’s closed sales also decreased 12.1% year-over-year. Lack of inventory no doubt contributed to the lower sales.
On average, homes sold in 14 days, down 11 days compared with the same month one year ago; also down six days from August 2021. In September 2019, average days on market were 43. Median days on market decreased 3 days to just 4 days in September 2021. In September 2019 median days on market were 21.
Pent-up demand for Tega Cay homes was also evident in the number of average showings per listing in September 2021. On average, listed homes had 18.2 showings, up 59.6% from 11.4 showings in September 2020 and from 6.9 showings in September 2019. Clearly, it’s a matter of more buyers “chasing” after fewer homes.
Average price of sold homes increased 24.0% to $435,330, while the median sale price increased 9.0% to $387,000 compared with the same month one year ago. Price per square foot was $184, up $26 (16.5%) per square foot versus the same month one year ago.
Sellers received a median 100.3% of listing price (up 2.0% year-over year) in final sale price, showing virtually no window of opportunity for Tega Cay home buyers to negotiate.
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MORE DETAILS ON THE TEGA CAY HOUSING MARKET’S PERFORMANCE
TEGA CAY HOUSING MARKET HIGHLIGHTS:
SEPTEMBER 2021 VERSUS SEPTEMBER 2020
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MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC
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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 region 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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