Tega Cay real estate March 2023 saw higher home prices year-over-year and month-over-month. Housing inventory was up year-over-year and month-over-month. New listings unchanged year-over-year, but up month-over-month. Days on market increased to 41 days in March. 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: March 2023
HOUSING INVENTORY UP SLIGHTLY MONTH-OVER-MONTH
Tega Cay’s number of properties for sale (73) in March 2023 increased 2.82% from 71 properties for sale in February 2023. Compared with March 2022 (58 properties for sale) Tega Cay had 25.86% higher inventory in March 2023. Compared with March 2021, Tega Cay had three fewer properties for sale in March 2023.
NEW LISTINGS UNCHANGED YEAR-OVER-YEAR | UP MONTH-OVER-MONTH
New listings in Tega Cay in March 2023 increased 52.94% from 17 in the previous month of February. Compared with March 2022, new listings were unchanged and were down by 30 listings from 56 compared with March 2021.
Tega Cay had 17 closed sales in March 2023, declining 15% from 20 homes sold in February 2023 and down 64.58% from 48 sales in March 2022 and down from 29 sales in March 2021.
DAYS ON MARKET INCREASED YEAR-OVER-YEAR & MONTH-OVER-MONTH
On average, homes sold in 41days, increasing 3 days compared with February 2023. Days on market increased year-over-year from 16 days in March 2022 and from26 days March 2021. Marchs days on market were at their highest since July 2021 (except for December 2022 when they were also 41 days).
HOME SALE PRICES INCREASED YEAR-OVER-YEAR & MONTH-OVER-MONTH
Average price of sold homes increased 16.59% to $570,200 year-over-year from $489,058. Month-over-month, average home prices increased 17.06% from $487,097 in the previous month of February. The March 2023 average sale price was at its highest level compared with March 2022 and March 2021.
Median sale price of Tega Cay homes increased 17.27% to $499,900 year-over-year, from $426,280. Median sale price increased 17.42% from $425,750 in February 2023. The March 2023 median sale price was at its highest level compared with March 2022 and March 2021.
Price per square foot was $220, up 7.32% from $205 in February 2023 and 10% higher than $200 per square foot in March 2022.
MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC
TEGA CAY LIST TO SALE PRICE RATIO JUST UNDER 100%
Sellers received 99.89% of listing price in March 2023, equal to the previous month of February. The ratio was 4.77% lower year-over-year from 103.75% in March 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: