Tega Cay Real Estate May 2024

Tega Cay, SC Housing Market Update for May 2024

 

TEGA CAY REAL ESTATE MAY 2024 HIGHLIGHTS

Tega Cay real estate May 2024 saw home sales increase a third consecutive month. Median and average sale prices declined from one month ago and one year ago. Days on market increased after declining three consecutive months. New listings increased from one month ago, but were down from one year ago. Housing inventory declined compared with one month and one year ago. The months supply of inventory declined by one month to 2.46 months, keeping Tega Cay in home seller territory. The list to sale price ratio declined to just under 99% compared with the previous month of April and May one year ago.

 

TEGA CAY REAL ESTATE:  MAY 2024 SNAPSHOT

Tega Cay, SC Housing Market Trends in May 2024

 

 

HOUSING INVENTORY IN TEGA CAY DOWN A THIRD CONSECUTIVE MONTH

Tega Cay’s number of properties for sale in May 2024 declined a third consecutive month, down 4.17% to 69 properties for sale from 72 one month ago. Compared with May 2023, Tega Cay inventory declined 9.21% from 76 properties for sale one year ago. May 2024 inventory was flat compared with May 2022.

 

Month-over-month, the months supply of inventory declined from 3.46 months in April 2024 to 2.46 months in May, keeping Tega Cay in home seller “territory.” The May 2024 months supply of inventory was at its lowest compared with May 2023 and 2022.

 

 

NEW LISTINGS INCREASED

New listings in Tega Cay increased in May 2024 to 29 from 25 in the previous month of April. Compared with May 2023, new listings were 6.45% lower when Tega Cay had 31 new listings. New listings in May 2024 were considerably lower than in May 2022 when Tega Cay had 43 new listings come on market.

 

 

TEGA CAY SALES UP A THIRD CONSECUTIVE MONTH

Tega Cay had 28  sales in May 2024, up 16.67% from 24 sales in the previous month of April.  After increasing 100% one month ago, May 2024 sales declined 3.45% compared with May one year ago, which saw 29 sales. Sales were higher compared with May 2022, which saw 20 sales.  

 

 

DAYS ON MARKET UP

After declining for three consecutive months, days on market in Tega Cay increased to 32 days from 13 in April 2024. Days on market increased 6.67% from 30 days compared with May 2023. Days on market were 15 days higher in May 2024 than in May 2022. 

 

 

TEGA CAY HOME SALE PRICES DECLINE MONTH-OVER-MONTH & YEAR-OVER-YEAR

Average price of sold homes in May 2024 was $503,945, down 20.44% from the prior month of April.  Compared with May 2023, average sale price was 6.66% lower than the $539,882 one year ago. Tega Cay’s average sale price was at its lowest level compared with April 2023 and 2022. It’s reasonable to assume that some of this decline stems from the price mix of homes sold in May 2024 and not from a substantial decline in the value of Tega Cay homes.

 

Median sale price of Tega Cay homes in May 2024 was $379,000, down 36.3% from $595,000 in the previous month of April. Median sale price decreased 25.69% from $510,000 year-over-year. Tega Cay’s median sale price was at its lowest level compared with May 2023 and 2022. It’s reasonable to assume that some of this decline stems from the price mix of homes sold in May 2024 and not from a substantial decline in the value of Tega Cay homes.

 

Price per square foot was $233 in May 2024, down 1.27% from $236 in the previous month of April. Compared with May 2023, price per square foot was 12.02% higher than the $208 one year ago.

 

 

TEGA CAY HOMES LIST TO SALE PRICE RATIO DECLINED

Sellers received 98.88% of listing price in May 2024, down from 100.16% in the previous month of April. The list to sale price ratio declined from 100.24% in May 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

 

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

Contact Nina Hollander if you're curious about the Charlotte real estate market

 

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?



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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 update for Tega Cay real estate in May 2024 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: April 2024       Tega Cay Real Estate Update: March 2024                                                                                        

Tega Cay Real Estate Update: February 2024     Tega Cay Real Estate Update: January 2024

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

 

 

 

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