Tega Cay Real Estate December 2023
Tega Cay real estate sales in December 2023 declined both month-over-month and year-over-year. Average sale price was unchanged from the previous month and improved from December one year ago. The median sale price increased 19+% from the previous month of November. Average days on market were 29, up one day from November and down 22 days compared with December 2022. New listings declined from last month and last year to their lowest level in the past three years. Housing inventory declined a fourth consecutive month and was flat compared with December 2022 and 2021. The months supply of inventory increased to 5.38 months, moving Tega Cay in “home buyer territory” in December 2023. Despite the increase in the months supply of inventory, the list to sale price ratio was just under 100%, which meant there was little negotiating room for Tega Cay home buyers.
HOUSING INVENTORY IN TEGA CAY DECLINED A FOURTH CONSECUTIVE MONTH
Tega Cay’s number of properties for sale in December 2023 declined 7.89% to 70 from the previous month of November which saw 76 properties for sale. Compared with December 2022, Tega Cay had 1.41% less inventory in December 2023 (equal to one home). Inventory in December 2022 stood at 71 properties; in December 2021 at 70 properties. Month-over-month, the months supply of inventory increased to 5.38 months putting Tega Cay into home buyer “territory.”
NEW LISTINGS DECLINED TO LOWEST LEVEL IN 3+ YEARS
New listings in Tega Cay decreased 33.33% to 8 listings in December from 12 in November 2023. Compared with December 2022, new listings were 38.46% lower. New listings in Tega Cay were at their lowest level compared with December 2022 (13 new listings) and December 2021 (33 new listings). November’s new listings were also at their lowest level in the past three years.
TEGA CAY SALES DECLINED MONTH-OVER-MONTH & YEAR-OVER-YEAR
Tega Cay had 13 closed sales in December 2023,down 40.91% from 22 homes sold in November 2023. Sales declined 23.53% from 17 sales in December 2022. Sales declined compared with December 2021, which saw 23 closed sales. The December 2023 sales were the second lowest in the past three years.
DAYS ON MARKET FLAT MONTH-OVER-MONTH, DOWN YEAR-OVER-YEAR
On average, Tega Cay homes sold in 29 days in December, increasing one day from November 2023. Days on market declined 29.27% from 41 compared with December 2022. Days on market were 13 days higher than in December 2021.
TEGA CAY HOME SALE PRICES HELD THEIR OWN IN DECEMBER
Average price of sold homes in December 2023 was $516,084, equal to what we saw in the previous month of November. Compared with December 2022, average sale price was 1.36% higher than one year ago at $509,138. The December 2023 average sale price was at its highest level compared with December 2022 and 2021.
Median sale price of Tega Cay homes was $460,000, up 19.02% from $386,500 in the previous month. Median sale price decreased 5.15% from $485,000 year-over-year.
Price per square foot was $220 in December, up 2.8% from $214 in the previous month of November. Compared with December 2022, price per square foot was 3.77% higher than the $212 one year ago.
TEGA CAY HOMES LIST TO SALE PRICE RATIO IMPROVED
Sellers received 99.43% of listing price in December, up from 98.26% the prior month and up from 98.09% from December one year ago.
MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC
ROLLING 12-MONTH AVERAGE
MORE DETAILS ON THE TEGA CAY HOUSING MARKET’S PERFORMANCE
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Tega Cay on Lake Wylie is All About Location, Location, Location and Lifestyle, Lifestyle, Lifestyle!
This Charlotte, North Carolina real estate monthly update for Tega Cay, SC is provided by Nina Hollander, Coldwell Banker Realty, Greater Charlotte residential real estate expert and Tega Cay specialist. I’ve been opening doors for Tega Cay home buyers and sellers for 25 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:
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