Tega Cay, South Carolina remained a home seller’s market in March 2021. Tega Cay’s housing market experienced much lower inventory levels and days on market in the month of March, along with higher average home sale prices. Buyer demand for Tega Cay homes continued to outstrip supply of homes for sale with closed and pending sales up.
Tega Cay, SC Housing Market Snapshot: March 2021
Latest news on the Tega Cay real estate market in March 2021 and what it means for you…
Tega Cay, South Carolina housing market remained very much a home seller’s market in March 2021 evidenced by key indicators such as lower months supply of homes, significantly less housing inventory, increasing home prices and lower days on market.
Tega Cay’s months of housing inventory was 0.8 months, down 73.3% year-over-year from 3 months in March 2020. Housing inventory was down 69% year-over-year. New listings increased 7.7% year-over-year, but did little to alleviate the inventory shortage.
Pending sales increased 55.9% in Tega Cay in March 2021 compared with one year ago. Tega Cay’s closed sales increased 7.4% year-over-year.
On average, homes sold in 24 days, down 26 days compared with the same month one year ago. Median days on market also decreased 12 days to just 4 days in March 2021.
Average price of sold homes increased 6.9% to $423,672, while the median sale price decreased 3.1% to $361,00 compared with the same month one year ago. The decrease in median home sale prices has less to do with a drop in values and more with the price mix of homes sold in Tega Cay in March. March home prices in Tega Cay were about $22,000 higher on average compared with the prior month of February. Price per square foot was $177, up $34/square foot versus the same month one year ago.
Sellers received a median 100% of listing price (up 1.6% year-over year) in final sale price showing virtually no 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: