Tega Cay, South Carolina housing market was definitely impacted by corona virus restrictions as evidenced by key indicators such as lower months supply of homes, less housing inventory, fewer new listings, lower days on market, 45% fewer home showings, and lower closed and pending sales in April 2020 compared with April 2019.
Tega Cay Real Estate Report: April 2020
Latest news on the Tega Cay real estate market and what it means for you…
Tega Cay, South Carolina real estate report for April 2020. Tega Cay’s housing market was definitely impacted by corona virus restrictions in April 2020 as evidenced by 3.1 months of inventory, down 22.5% year-over-year from 4 months in April 2019; housing inventory down 11.5% year-over-year and new listings down 10.2% year-over-year.
Pending sales decreased 20.5% in Tega Cay in April 2020 compared with one year ago. Tega Cay’s closed sales decreased 30.3% year-over-year. Home showings were down substantially (45%) in April 2020 compared with the same month one year ago. There were 385 home showings in Tega Cay in April 2020 versus 845 showings in April 2019.
On average, homes sold in 32 days, down 49 days compared with the same month one year ago and down 18 days from the month of March 2020. Median days on market were 7, down 24 days year-over-year and down 8 days month-over-month.
Average price of sold homes decreased 6.1% to $376,081, while the median sale price decreased 3.7% to $390,000 versus the same month one year ago (median price is up month-over-month, however). Price per square foot was $141, up $1/square foot year-over-year. As homes in Tega Cay sell in a very broad range of price points, the drop in home prices in April should not immediately be assumed to be a diminution of home values in Tega Cay. More likely, it’s reflective of the price mix of homes sold in the month of April 2020, especially considering that median home sale prices increased month-over-month.
Sellers received 99.4% of listing price in final sale price (up 1.5% year-over-year), showing minimal opportunity for buyers to negotiate.
Want to know what this would mean for your family if you decide to buy or sell a Tega Cay home?
And don’t miss out on the newest home listings inTega Cay.Sign up to receive email notification of homes as soon as they come on the market. You can customize your search to your specific needs and always be the first to know what’s coming on the market in the Tega Cay area.
Wondering what your Tega Cay home is worth in today’s market? Find out by clicking on the picture below.
If you’re thinking about selling your Tega Cay area home, let’s get together and discuss the supply conditions in your neighborhood and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.
Contact usif 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.
Note: If you don’t see your subdivision or complex, or the data looks incomplete, it’s because there weren’t enough properties sold in a given year.
We’re happy to provide this information with no obligation on your part.
This Charlotte, North Carolina real estate monthly update for Tega Cay is provided byNina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Tega Cay/York County specialists and Charlotte metro area residential real estate experts. We’ve been opening doors for Tega Cay area home buyers and sellers for 20+ years.
If you’re considering selling or purchasing a home in the Charlotte metro area, I’d love an opportunity to earn your business, to exceed your expectations, and to show you how: