Tega Cay real estate June 2023 saw home prices increase over May 2023 and June 2022. With just 2.68 months of inventory, Tega Cay was a seller’s market in June 2023. Closed sales decreased slightly from May 2023. Average days on market declined to 25 days from the previous month. New listings and inventory both declined month-over-month and year-over-year. The list to sale price ratio was just under 100% giving home buyers little room to negotiate.
Tega Cay, SC Housing Market Highlights: June 2023
HOUSING INVENTORY DECREASED MONTH-OVER-MONTH AND YEAR-OVER-YEAR
Tega Cay’s number of properties for sale in June 2023 decreased 5.06% to 75 from 79 properties for sale in May 2023. Compared with June 2022 (87 properties for sale) Tega Cay had 13.7% lower inventory in June 2023.
NEW LISTINGS DECLINED MONTH-OVER-MONTH & YEAR-OVER-YEAR
New listings in Tega Cay in June 2023 decreased 9.68% to 28 from 31 in the previous month of May. Compared with June 2022, new listings were down 34.88% from 43 and also down from 52 new listings in June 2021.
Tega Cay had 28 closed sales in June 2023, decreasing 3.45% from 29 homes sold in May 2023 and down 33.33% from 42 sales in June 2022. Compared with June 2021, closed sales were lower than the 53 sales two years ago. With fewer new listings and less inventory it’s not surprising that closed sales did not increase.
DAYS ON MARKET INCREASED YEAR-OVER-YEAR | DECLINED MONTH-OVER-MONTH
On average, Tega Cay homes sold in 25days, decreasing 5 days compared with May 2023. Days on market increased 18 days year-over-year from 7 days compared in June 2022 and increased 14 days from 11 days on market in June 2021.
HOME SALE PRICES UP MONTH-OVER-MONTH & YEAR-OVER-YEAR
Average price of sold homes in June 2023 increased 14.28% to $616,956 from $539,882 in May 2023. Compared with June 2022, average sale price was 20.11% higher than one year ago at $513,644. The June 2023 average sale price was at its highest level compared with June 2022 and June 2021.
Median sale price of Tega Cay homes increased 8.9% to $555,375 from $510,000 in the previous month. Median sale price increased 12.85% from $492,150 year-over-year. The median sale price in June 2023 was at its highest level compared with June 2022 and June 2021.
Price per square foot was $222, up 6.73% from $208 in May 2023 and was 7.77% higher than $206 per square foot in June 2022.
MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC
ROLLING 12-MONTH AVERAGE
TEGA CAY HOMES SOLD AT JUST UNDER 100% OF LIST PRICE
Sellers received 99.84% of listing price in June 2023, slightly lower than in May 2023. The ratio was down 3.27% year-over-year from 103.11% in June 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: