Tega Cay, South Carolina real estate report for February 2020. Tega Cay remained a seller’s market in February with less inventory, fewer days on market, and a drop in months supply of homes to 2.6 from 3.4 months one year ago.. Both closed and pending sales increased significantly, although closed home sale prices were down a bit in February 2020.
Tega Cay Real Estate Report: February 2020
Latest news on the Tega Cay real estate market and what it means for you…
Tega Cay, South Carolina real estate report/snapshot for February 2020. The Tega Cay housing market remained a seller’s market in February 2020 with just 2.6 months of inventory, down 23.5% year-over-year from 3.4 months. Housing inventory was down 10.6% year-over-year and new listings increased 2.9% year-over-year (equivalent to just one new home more).
Pending sales increased 31.8% in Tega Cay in February compared with one year ago. Tega Cay’s closed sales increased 60% year-over-year.
On average, homes sold in 51 days, down 21 days compared with the same month one year ago and down 11 days from the month of January 2020. Median days on market were 32, down 7 days year-over-year.
Average price of sold homes decreased 12.5%, while the median sale price decreased 0.8%. The drop in average and median sale prices should not be attributed to a drop in Tega Cay home values. Rather, it’s more reflective of the price mix of homes sold in February. Price per square foot was $135, flat year-over-year.
Sellers received 96.8% of listing price in final sale price, showing a small window of opportunity for buyers to negotiate.
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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.
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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.
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