Tega Cay, South Carolina remained a home seller’s market in December 2020. Tega Cay’s housing market experienced much lower inventory levels and days on market in the month of December, along with considerably higher home sale prices. Buyer demand for Tega Cay homes continued to outstrip supply of homes for sale with closed and pending sales up significantly.
Tega Cay, SC Housing Market Snapshot: December 2020
Latest news on the Tega Cay real estate market in December 2020 and what it means for you…
Tega Cay, South Carolina housing market was very much a home seller’s market in December 2020 as evidenced by key indicators such as lower months supply of homes, considerably less housing inventory, increasing home prices and lower days on market.
Tega Cay’s months of housing inventory was 0.8 months, down 68% year-over-year from 2.5 months in December 2019; housing inventory was down 63% year-over-year. New listings increased 21.7% year-over-year, but did little to alleviate the overall lack of inventory in the Tega Cay area.
Pending sales increased 107.7% in Tega Cay in December 2020 compared with one year ago. Tega Cay’s closed sales increased 65% year-over-year.
On average, homes sold in 23 days, down 48 days compared with the same month one year ago. Median days on market also decreased 61 days to 7 days in December 2020.
Average price of sold homes increased 33.2% to $427,556, while the median sale price increased 37% to $411,000 versus the same month one year ago. Price per square foot was $165, up $21/square foot versus the same month one year ago.
Sellers received a median 99.9% of listing price (up 3.3% year-over year) in final sale price showing a very small window of opportunity for Tega Cay home buyers to negotiate.
Want to know what this would mean for your family if you decide to buy or sell a Tega Cay home?
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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?
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 how: