In this Cary Spotlight Issue…

🏡 Cary Real Estate: Properties Sold in Cary Last Week

🔍 FREE Report of the Estimated Selling Price for Your Home

🏡 Average Home Prices Near Cary, NC

💵 U.S. Trends in Mortgage & Real Estate

😀 Viral Meme

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Founder/Publisher
Cary Spotlight

Properties Sold in Cary, NC for Week of 23 Dec 2023 (Data source: Redfin)

Property Type: Single Family Residential.

There were 16 properties sold in Cary, NC during the past week. Please note that we exclude land sales and townhouses. Here are a few statistics based on the sales from this past week:

The average price for all properties sold is $630,131.

The average size in square feet for houses sold is 2,536.

The average price per square foot for houses that sold is $260.

The properties are listed from highest SOLD PRICE to lowest:

1. Address: 7129 Talton Ridge Dr, Cary, NC 27519 
   Sold Price: $1,201,000 | Beds: 5 | Baths: 5.5 | Size: 4705 sqft
   

2. Address: 109 Water Leaf Ln, Cary, NC 27518 
   Sold Price: $775,000 | Beds: 4 | Baths: 3.5 | Size: 3683 sqft
   

3. Address: 1339 English Cottage Ln, Cary, NC 27518 
   Sold Price: $727,000 | Beds: 4 | Baths: 2.5 | Size: 2959 sqft
   

4. Address: 204 Roebling Ln, Cary, NC 27513 
   Sold Price: $725,000 | Beds: 5 | Baths: 2.5 | Size: 2713 sqft
   

5. Address: 116 Crosswind Dr, Cary, NC 27513 
   Sold Price: $725,000 | Beds: 4 | Baths: 4.5 | Size: 4068 sqft
   

6. Address: 507 Oak Island Dr, Cary, NC 27513 
   Sold Price: $699,999 | Beds: 4 | Baths: 2.5 | Size: 2682 sqft
   

7. Address: 101 E Carnaby Ct, Cary, NC 27513 
   Sold Price: $675,000 | Beds: 3 | Baths: 3.0 | Size: 2619 sqft
   

8. Address: 102 Large Oaks Dr, Cary, NC 27518 
   Sold Price: $640,000 | Beds: 4 | Baths: 2.5 | Size: 2511 sqft
   

9. Address: 803 Footbridge Pl, Cary, NC 27519 
   Sold Price: $600,100 | Beds: 2 | Baths: 2.0 | Size: 2000 sqft
   

10. Address: 121 Longbridge Dr, Cary, NC 27518 
    Sold Price: $575,000 | Beds: 4 | Baths: 2.5 | Size: 2645 sqft
    

11. Address: 115 Bell Vista Dr, Cary, NC 27513 
    Sold Price: $555,000 | Beds: 4 | Baths: 2.5 | Size: 2481 sqft
    

12. Address: 110 Lacoste Ln, Cary, NC 27511 
    Sold Price: $520,000 | Beds: 3 | Baths: 3.0 | Size: 1723 sqft
    

13. Address: 105 Electra Dr, Cary, NC 27513 
    Sold Price: $450,000 | Beds: 4 | Baths: 2.0 | Size: 1846 sqft
    

14. Address: 908 Belhaven Rd, Cary, NC 27513 
    Sold Price: $445,000 | Beds: 3 | Baths: 2.0 | Size: 1488 sqft
    

15. Address: 121 Sterlingdaire Dr, Cary, NC 27511 
    Sold Price: $394,000 | Beds: 3 | Baths: 2.0 | Size: 1424 sqft
    

16. Address: 205 Honeysuckle Ln, Cary, NC 27513 
    Sold Price: $375,000 | Beds: 3 | Baths: 1.5 | Size: 1030 sqft ​
    

FREE Report of the Estimated Selling Price for Your Home!

U.S. Trends in Mortgage & Real Estate

Here's a summary of the latest information on mortgage rates and real estate market trends in the United States, based on national news stories:

1. Redfin's Housing Market Update: Declining mortgage rates have lured sellers off the sidelines, potentially paving the way for buyers in 2024. The share of homes off the market in two weeks is up, as is the share of homes sold above the list price. Meanwhile, the average sale-to-list price ratio has increased slightly. Metro-level highlights indicate mixed trends, with some areas experiencing increases in median sale price and pending sales, while others have seen declines.
   Read Source
   

2. First American Data & Analytics: A recent report notes that lower mortgage rates have driven the market forward. The average 30-year fixed mortgage rate declined to 7.4 percent in November, boosting house-buying power. Purchase mortgage applications increased in November and the first two weeks of December, indicating growing demand in the market. The report suggests that existing-home sales should accelerate and approach 4 million seasonally adjusted annualized sales as 2023 closes, although a significant increase is unlikely due to many existing homeowners being rate locked-in.
   Read Source
   

3. NAHB's Housing Economics: Elevated mortgage rates have impacted new home sales in November, but sales are expected to rise as we move into the new year. The National Association of Home Builders provides in-depth economic analysis and indicates that while the current situation reflects a slowdown due to high mortgage rates, there are expectations of improvement moving forward. Read Source

   These reports indicate a real estate market that is sensitive to changes in mortgage rates, with recent decreases potentially encouraging increased activity. However, the overall recovery and market trends seem to be cautious and gradual, reflecting both the opportunities and challenges in the current economic climate.

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