Tega Cay real estate April 2023 saw higher home prices year-over-year. Housing inventory was up slightly year-over-year, down month-over-month. New listings were also down year-over-year and unchanged month-over-month. Days on market were 23 days in April. List to sale price ratio was just under 100%. Sold properties down year-over-year and month-over-month.
Tega Cay, SC Housing Market Highlights: April 2023
HOUSING INVENTORY UP SLIGHTLY YEAR-OVER-YEAR & DOWN MONTH-OVER-MONTH
Tega Cay’s number of properties for sale (68) in April 2023 declined 8.11% from 74 properties for sale in March 2023. Compared with April 2022 (64 properties for sale) Tega Cay had 6.25% higher inventory in April 2023. This was the lowest level of inventory Tega Cay has seen since April 2022, when inventory stood at 64 homes.
NEW LISTINGS DOWN YEAR-OVER-YEAR | UNCHANGED MONTH-OVER-MONTH
New listings in Tega Cay in April 2023 were equal to the previous month of March. Compared with April 2022, new listings are down 35% from 40 and also down from 41 new listings in April 2021.
Tega Cay had 12 closed sales in April 2023, declining from 17 homes sold in March 2023 and down from 22 sales in April 2022 and down from 33 sales in April 2021. This was the lowest level of closed sales in Tega Cay in more than three years.
DAYS ON MARKET INCREASED YEAR-OVER-YEAR | DOWN MONTH-OVER-MONTH
On average, homes sold in 23days, declining 18 days compared with March 2023. Days on market increased year-over-year from 7 days in April 2022 and 9 days April 2021. April’s days on market were at their lowest level since October 2022, when days on market stood at 17 days.
HOME SALE PRICES INCREASED YEAR-OVER-YEAR
Average price of sold homes increased 1.05% to $535,821 year-over-year from $530,234. Month-over-month, average home prices decreased 6.03% from $570,200 in the previous month of March. The April 2023 average sale price was at its highest level compared with April 2022 and April 2021.
Median sale price of Tega Cay homes increased 5.05% to $520,000 year-over-year, from $495,000. Median sale price increased 4.02% from $499,900 in March 2023.
Price per square foot was $215, down 2.27% from $220 in March 2023 and 4.37% higher than $206 per square foot in April 2022.
MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC
TEGA CAY HOMES SOLD AT JUST UNDER 100% OF LIST TO SALE PRICE
Sellers received 99.41% of listing price in April 2023, equal to the previous month of March. The ratio was down 5.51% year-over-year from 104.92% in April 2022. Tega Cay home buyers are not seeing much of an opportunity to negotiate.
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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: