I created a home sales comparison report for Tega Cay South Carolina. The report compares 2007 homes sales in Tega Cay to the current year 2008 for the first two quarters. I also gave you a peek at how August home sales stack up against last year. Here is my sales report:
MARKET SNAPSHOT 2007 Vs. 2008
First Quarter Sales Comparisons
JANUARY-MARCH 2008——–JANUARY-MARCH 2007
SOLD- 27 Homes…………………………. SOLD- 52 Homes
AVERAGE LIST PRICE- $272,469 ……. AVERAGE LIST PRICE- $339,565
AVERAGE SOLD PRICE- $268,359 ….. AVERAGE SOLD PRICE- $336,220
AVERAGE DAYS ON MKT- 114 ………..AVERAGE DAYS ON MKT- 78
% LIST TO SOLD- 98% ………………….. % LIST TO SOLD- 99%
DECLINE IN SALES PRICE- 20%
DECLIEN IN # OF HOMES SOLD – 41%
Second Quarter Sales Comparisons
APRIL- JULY 2008 ————APRIL- JULY 2007
SOLD- 41 Homes ………………………….SOLD- 69 Homes
AVERAGE LIST PRICE- $323,977 ……..AVERAGE LIST PRICE- $340,272
AVERAGE SOLD PRICE- $312,553…….AVERAGE SOLD PRICE- $334,384
AVERAGE DAYS ON MKT- 99…………..AVERAGE DAYS ON MKT- 79
%LIST TO SOLD- 97% …………………….%LIST TO SOLD- 98%
DECLINE IN SALES PRICE- 6%
DECLINE IN # OF HOMES SOLD- 27%
Here is a look at the trend in August so far:
AUG. 1- AUG. 23 2008 ——- AUG.1 – AUG. 23 2007
SOLD- 7 Homes …………………………. SOLD- 9 Homes
AVERAGE LIST PRICE- $327,928 …… AVERAGE LIST PRICE- $325,355
AVERAGE SOLD PRICE- $315,300 …..AVERAGE SOLD PRICE- $318,752
AVERAGE DAYS ON MKT- 101………. AVERAGE DAYS ON MKT- 70
%LIST TO SOLD- 96% ………………….. %LIST TO SOLD- 98%
DECLINE IN SALES PRICE- 1%
DECLINE IN # OF HOMES SOLD- 23%
THERE ARE CURRENTLY 132 SINGLE FAMILY HOMES FOR SALE IN TEGA CAY THAT ARE LISTED WITH AN AGENT IN MLS.
For more information or to discuss the market analysis further please contact me.
Carmen S Miller
Century 21 First Choice Fort Mill, SC 803.322.3479 carmen.miller@century21.com
About Carmen Miller
Nice comparison list, thanks for posting.
It is very noticeable that there is a slight drop in sales for this year. Strange or not? I am not so sure….
it looks like your market is sustaining pretty well. I use to live near tega Cay, I miss being close to a bigger city
Kelly,
If you take the 2 quarters and partial Aug sold homes this year to last year Tega Cay is down approx 30% in transactions. The trend is getting better or becoming more normalized. The slow down began late last year for our area so the transaction comparison for the fall will hopefully look better.
The good news is home values are much more stable in our area compared to many other parts of the country.