Tega Cay Real Estate July 2023

Published On: August 17, 2023|Categories: Buying a Home, Housing Market Reports/Updates, Selling a Home|Tags: best places to live in south carolina, best places to raise a family in south carolina, best tega cay real estate agent, free home buyer guide, 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 real estate, tega cay real estate report, tega cay real estate report july 2023, tega cay real estate report june 2023, tega cay sc|

Tega Cay real estate July 2023 softened slightly with a lower list to sale price ratio and fewer sales. Home sale prices were up from one year ago. Average home price was down from June, while median sale price was flat. Average days on market at 21 days were at their lowest level in eight months. New listings and inventory were flat month-over-month and down year-over-year.

Tega Cay, SC Housing Market Highlights: July 2023

HOUSING INVENTORY FLAT MONTH-OVER-MONTH AND DOWN YEAR-OVER-YEAR

Tega Cay’s number of properties for sale in July 2023 were flat compared with the previous month of June at 80. Compared with July 2022 (92 properties for sale) Tega Cay had 13.04% less inventory in July 2023.

NEW LISTINGS DECLINED YEAR-OVER-YEAR | UP SLIGHTLY MONTH-OVER-MONTH

New listings in Tega Cay increased by two homes from 28 in the prior month of June to 30 in July 2023. Compared with July 2022, new listings were down 28.57% from 42 and also down from 51 new listings in July 2021.

SALES DECLINED MONTH-OVER-MONTH & YEAR-OVER-YEAR

Tega Cay had 21 closed sales in July 2023, decreasing 25% from 28 homes sold in June 2023 and down 44.74% from 38 sales in July 2022. Compared with July 2021, closed sales were lower than the 47 sales two years ago. With no substantive increase in inventory or new listings, it’s not surprising that sales did not increase. The July 2023 sales were at their lowest level compared with July 2022 and July 2021.

DAYS ON MARKET AT THEIR LOWEST IN 8 MONTHS

On average, Tega Cay homes sold in 21 days, decreasing four days compared with June 2023. Days on market increased nine days year-over-year from 12 days in July 2022 and increased eight days from 13 days on market in July 2021.

HOME SALE PRICES A MIXED BAG

Average price of sold homes in July 2023 decreased 10.48% to $552,310 from $616,956 in June 2023. Compared with July 2022, average sale price was 11.03% higher than one year ago at $497,438. The July 2023 average sale price was at its highest level compared with July 2022 and July 2021.

Median sale price of Tega Cay homes of $560,000 was flat compared with June 2023 in July. Median sale price increased 13.3% from $494,250 year-over-year. The median sale price in July 2023 was at its highest level compared with July 2022 and July 2021.

Price per square foot was $224 in July, equal to that of June 2023 and 7.69% higher than $208 per square foot in July 2022.

MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC

ROLLING 12-MONTH AVERAGE

TEGA CAY HOMES LIST TO SALE PRICE RATIO DOWN

Sellers received 98.77% of listing price in July, down 1.07% from the prior month. The ratio was down 3.98% year-over-year from 102.75% in July 2022. Tega Cay home buyers saw a small window of opportunity to negotiate on price in July 2023.

MORE DETAILS ON THE TEGA CAY HOUSING MARKET’S PERFORMANCE

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Did you know… Tega Cay has been ranked…

The #1 best place/suburb to raise a family in South Carolina?
The #2 best place/suburb to live in South Carolina?
The #6 best place/suburb to buy a house in South Carolina?

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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 TENNIS & GOLF CLUB: VIDEO

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?

TEGA CAY TRAIL & RIVER LAUNCH: VIDEO

This Charlotte, North Carolina real estate monthly update for Tega Cay, SC is provided by Nina Hollander, Coldwell Banker Realty, Greater Charlotte region residential real estate expert and Tega Cay specialist. I’ve been opening doors for Tega Cay home buyers and sellers for 24+ 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.”