Tega Cay, South Carolina remained a home seller’s market in January 2022. Tega Cay’s housing market experienced significantly lower inventory levels and lower days on market in the month of January. The months supply of inventory is just barely over a half month at 0.7 months. Buyer demand for Tega Cay homes continued to outstrip supply of homes with no increase in new listings. Buyer demand and lack of supply of homes show no signs of easing up in Tega Cay.
Tega Cay, SC Housing Market Snapshot: January 2022
Latest news on the Tega Cay real estate market in January 2022 and what it means for you…
Tega Cay, South Carolina housing market remained very much a home seller’s market in January 2022 evidenced by key indicators such as lower months supply of homes, less housing inventory, and fewer days on market in January 2022 compared with January 2021.
Tega Cay’s months of housing inventory was 0.7 months, down 41.7% year-over-year from 1.2 months in January 2021 and 2.6 months in January 2020. Housing inventory was down 45.7% year-over-year. New listings decreased 38.2% year-over-year and sold as quickly as they came on market.
Pending sales decreased 24.4% in Tega Cay in January 2022 compared with one year ago. Tega Cay’s closed sales increased 15.8% year-over-year, most likely due to the influx of new listings in the prior month.
On average, homes sold in 9 days, down 24 days compared with the same month one year ago and down 53 days from January 2020. Average days on market also decreased 8 days month-over-month. Median days on market decreased 8 days to just 2 days in January 2022 year-over-year and decreased 22 days over January 2020.
Pent-up demand for Tega Cay homes was also evident in the number of average showings per listing in January 2022. On average, listed homes had 22.7 showings, up 95.7% from 11.6 showings in January 2021 and from 6.9 showings in January 2020. Clearly, it’s a matter of more buyers “chasing” after fewer homes.
Average price of sold homes increased 4.8% to $409,894, while the median sale price increased 20.5% to $427,750 compared with the same month one year ago. Price per square foot was $195, up 32.7% per square foot versus the same month one year ago.
Sellers received a median 102% of listing price (up 3.7% year-over year) in final sale price, showing virtually no window of opportunity for Tega Cay home buyers to negotiate.
RealVitalizeSM is an exclusive Coldwell Banker program that helps with improvements and repairs to prepare your home for sale. We cover upfront costs and get paid back when your home sells. No hidden fees, interest charges or markups.
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 why experience matters and how: