Tega Cay, SC Housing Market Highlights: September 2023
Tega Cay real estate sales in September 2023 declined from the most recent month of August and from September one year ago. Home sale prices, however, increased from one year ago and one month ago. Average days on market at 15 days were at their lowest level since July 2022. New listings declined, but inventory increased both month-over-month and year-over-year. The list to sale price ratio was just under 100%. The months supply of inventory stood at 3.44 months in September,
Tega Cay’s number of properties for sale in September 2023 increased 13.6% to 86 from the previous month of August which saw 76 properties for sale. Compared with September 2022, Tega Cay had 8.86% more inventory in September 2023. September 2023 housing inventory was at its highest level compared with September 2022 (79 properties for sale) and September 2021 (71 properties for sale). September’s housing inventory was also at its highest level since October 2022.
NEW LISTINGS INCREASED YEAR-OVER-YEAR & MONTH-OVER-MONTH
New listings in Tega Cay increased 28.57% to 36 listings from 28 in August 2023. Compared with September 2022, new listings were 63.64% higher. New listings in Tega Cay were at their highest level compared with September 2022 (22 new listings) and September 2021 (25 new listings). September’s new listings were also at their highest level since July 2022.
SALES DECLINED MONTH-OVER-MONTH & YEAR-OVER-YEAR
Tega Cay had 25 closed sales in September 2023, declining 45.65% from 46 homes sold in August 2023 and declined 21.88% from 32 sales in September 2022. Sales were also lower compared with September 2021, which saw 32 closed sales. Only May, June and August 2023 had more closed sales than September.
DAYS ON MARKET DECLINED MONTH-OVER-MONTH & YEAR-OVER-YEAR
On average, Tega Cay homes sold in 15 days, declining 13 days from August 2023. Days on market decreased four days year-over-year from 19 days in September 2022 and increased four days from 11 days on market in September 2021. September’s days on market were at their lowest level since July 2022.
HOME SALE PRICES UP MONTH-OVER-MONTH & YEAR-OVER-YEAR
Average price of sold homes in September 2023 increased 32.68% to $651,534 from $491,075 in August 2023. Compared with September 2022, average sale price was 25.02% higher than one year ago at $521,141. The average sale price in September 2023 was at its highest level compared with September 2022 and September 2021, as well as at its highest level in three years.
Median sale price of Tega Cay homes of was $492,500, up 16.22% from $423,762 in the previous month. Median sale price increased 3.78% from $474,545 year-over-year. The median sale price in September 2023 was at its highest level compared with September 2022 and September 2021.
Price per square foot was $236 in September, up 10.28% from $214 in August 2023 and up 15.69% from $204 in September 2022.
MEDIAN HOME PRICE TRENDS IN TEGA CAY, SC
ROLLING 12-MONTH AVERAGE
TEGA CAY HOMES LIST TO SALE PRICE JUST UNDER 100%
Sellers received 99.54% of listing price in September, up from 98.88% the prior month. The ratio was equal to September 2022. Tega Cay home buyers saw a very small window of opportunity to negotiate on price in September 2023.
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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?
TEGA CAY TRAIL & RIVER LAUNCH: VIDEO
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: