Tega Cay Real Estate November 2023
Tega Cay real estate sales in November 2023 improved from one month ago, but declined from one year ago. Average sale price also increased from one month ago, but both average and media sale prices were down year-over-year. Average days on market declined from one month ago to 28 days and were equal to DOM in November one year ago. New listings declined from last month and last year to their lowest level in 3+ years. Inventory was down from October, flat versus November 2022. The list to sale price ratio was just under 99%. The months supply of inventory declined to 3.68 months from 5.19 months in October, keeping Tega Cay in “home seller territory” in November 2023.
HOUSING INVENTORY IN TEGA CAY DECLINED | TEGA CAY STILL IN HOME SELLER TERRITORY
Tega Cay’s number of properties for sale in November 2023 declined 3.57% to 81 from the previous month of October which saw 84 properties for sale. Compared with November 2022, Tega Cay had 1.25% more inventory in November 2023 (equal to one home). Inventory in November 2022 stood at 80 properties; in November 2021 at 73 properties. Month-over-month, the months supply of inventory declined to 3.68 months from at 5.19 months, keeping Tega Cay in “home seller territory” in November.
NEW LISTINGS DECLINED IN TO LOWEST LEVEL IN 3+ YEARS
New listings in Tega Cay decreased 36.84% to 12 listings in November from 19 in October 2023. Compared with November 2022, new listings were 40% lower. New listings in Tega Cay were at their lowest level compared with November 2022 (20 new listings) and November 2021 (28 new listings). November’s new listings were also at their lowest level in 3+ years.
TEGA CAY SALES IMPROVED MONTH-OVER-MONTH | DECLINED YEAR-OVER-YEAR
Tega Cay had 22 closed sales in November 2023, improving 15.79% from 19 homes sold in October 2023, but declining 58.49% from 53 sales in November 2022. Sales were equal to November 2021, which saw 22 closed sales. It would appear that the high number of sales in November one year ago were an anomaly.
DAYS ON MARKET DECLINED FROM OCTOBER, UNCHANGED YEAR-OVER-YEAR
On average, Tega Cay homes sold in 28 days, decreasing two days from October 2023. Days on market were equal to the 28 days in November 2022 and four days higher than in November 2021.
TEGA CAY HOME SALE PRICES UP MONTH-OVER MONTH | DOWN YEAR-OVER-YEAR
Average price of sold homes in November 2023 increased 2.78% to $515,432 from $501,490 in October 2023. Compared with November 2022, average sale price was 9.44% lower than one year ago at $569,131.
Median sale price of Tega Cay homes of was $386,500, down 17.77% from $470,000 in the previous month. Median sale price decreased 24.6% from $512,619 year-over-year. The decline in median sale price can be attributed to the price mix of homes sold in Tega Cay in November 2023 and not necessarily to a decline in home values.
Price per square foot was $214 in November, down 6.96% from $230 in the previous month of October. Price per square foot remained unchanged compared with November one year ago.
MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC
ROLLING 12-MONTH AVERAGE
TEGA CAY HOMES LIST TO SALE PRICE RATIO STEADY
Sellers received 98.26% of listing price in November, down slightly from 98.76% the prior month. The ratio was equal to that of November one year ago.
MORE DETAILS ON THE TEGA CAY HOUSING MARKET’S PERFORMANCE
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Tega Cay on Lake Wylie is All About Location, Location, Location and Lifestyle, Lifestyle, Lifestyle!
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 for 25 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:
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