Tega Cay Real Estate January 2024

Tega Cay Real Estate January 2024: Highlights

Tega Cay real estate January 2024 saw sales remain flat month-over-month and year-over-year. Sales, nonetheless, were at their lowest level since August 2023. Sale prices were mixed. The average sale price held its own, while the median sale price declined by double digits from one month and one year ago.  Days on market rose to their highest level since 2021 at 54 days.  New listings increased after four consecutive months of decline. Housing inventory declined a fifth consecutive month.  The months supply of inventory declined to 4.0 months from 5.38 months in December 2023,  moving Tega Cay back to a balanced market. The list to sale price ratio declined to 96.64%, giving Tega Cay home buyers their first opportunity in a year to negotiate on home prices.

TEGA CAY REAL ESTATE JANUARY 2024 SALES TRENDS SNAPSHOT

HOUSING INVENTORY IN TEGA CAY DECLINED A 5th CONSECUTIVE MONTH

Tega Cay’s number of properties for sale in January 2024 declined 15.49% to 60 from the previous month of December which saw 71 properties for sale. Compared with January 2023, Tega Cay had 14.29% less inventory than in January 2023. Inventory stood at 70 properties in both January 2023 and January 2022. Month-over-month, the months supply of inventory declined to 4.0 months from 5.38 months in December pushing Tega Cay back into a balanced market.

NEW LISTINGS INCREASED AFTER FOUR CONSECUTIVE MONTHS OF DECLINES

New listings in Tega Cay increased to 18 from 8 new listings in December 2023. Compared with January 2023, new listings were 25% lower. New listings in Tega Cay were at their lowest level compared with January 2023 (24 new listings) and January 2022 (29 new listings).

TEGA CAY SALES FLAT

Tega Cay had 15 closed sales in January 2023, unchanged from the previous month of December. Sales declined by one home compared with January one year ago, which saw 16 sales. Sales declined compared with January 2022, which saw 22 sales. The January 2024 sales were at their lowest level since August 2023.

DAYS ON MARKET AT HIGHEST LEVEL SINCE 2021

On average, Tega Cay homes sold in 54 days in January 2024, increasing 29 days from December 2023. Days on market increased 63.64% from 33 days compared with January 2023. Days on market were 49 days higher than in January 2022. This was the highest number of days on market in Tega Cay since 2021.

TEGA CAY HOME SALE PRICES MIXED

Average price of sold homes in January 2024 was $491,327, equal to that of the prior month.  Compared with January 2023, average sale price was 2.83% higher than one year ago at $477,807. The January 2024 average sale price was at its highest level compared with January 2023 and 2022.

Median sale price of Tega Cay homes was $402,000, down 10.67% from $450,00 in the previous month of December. Median sale price decreased 12.98% from $461,968 year-over-year. The January 2024 median sale price was at its lowest level compared with January 2023 and 2022.

Price per square foot was $209 in January 2024, down 4.57% from $219 in the previous month of December. Compared with January 2023, price per square foot was 1.42% lower than the $212 one year ago.

TEGA CAY HOMES LIST TO SALE PRICE RATIO DECLINED TO ITS LOWEST LEVEL SINCE JANUARY 2023

Sellers received 96.64% of listing price in January 2024, down from 99.3% in the prior month and unchanged from January 2023. Tega Cay home buyers are finally seeing their first real window of opportunity to negotiate on price in a year.

 

MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC

ROLLING 12-MONTH AVERAGE

 

MORE DETAILS ON THE TEGA CAY HOUSING MARKET’S PERFORMANCE

 

`Want to know what this would mean for your family if you decide to buy or sell a Tega Cay home?

 

I can help.

Call me today at 704-779-0813 or contact me here.

There’s absolutely NO OBLIGATION. A consultation with Nina Hollander is FREE. 

 

 

 

Did you know… Tega Cay has been ranked by niche.com as…

• The #2 best place/suburb to live in in the Charlotte metro area?
• The #1 best place/suburb to live in South Carolina?
• The #1 best place/suburb to raise a family in South Carolina?
• The #2 best place/suburb for public schools in South Carolina?

SEARCH TEGA CAY, SC AREA HOMES HERE

 

FREE Home Buyer Guide “Things To Consider When Buying A Home”

 

WONDERING WHAT YOUR TEGA CAY AREA HOME IS WORTH?

Contact me if 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.

I’m happy to provide an expert home value analysis with no obligation on your part.

 

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Need Help With Home Renovations/Updates Before Listing Your Home For Sale?

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RealVitalizeSM is an exclusive Coldwell Banker program that helps with improvements and repairs to prepare your home for sale. We cover upfront costs and get paid back when your home sells. No hidden fees, interest charges or markups.

 

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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  residential real estate expert and Tega Cay specialist. I’ve been opening doors for Tega Cay home buyers and sellers since 1999.

 

If you’re considering selling or purchasing a home in Tega Cay or anywhere in the Greater Charlotte 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.”

 

PREVIOUS TEGA CAY REAL ESTATE UPDATES

Tega Cay Real Estate Update: December 2023        Tega Cay Real Estate Update: November 2023

Tega Cay Real Estate Update: October 2023        Tega Cay Real Estate Update: September 2023

Tega Cay Real Estate Update: August 2023       Tega Cay Real Estate Update: July 2023

Tega Cay Real Estate Update: June 2023      Tega Cay Real Estate Update: May 2023

Tega Cay Real Estate Update: April 2023       Tega Cay Real Estate Update: March 2023

Tega Cay Real Estate Update: February 2023         Tega Cay Real Estate Update: January 2023