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

Hey, Cary. My family and I would like to wish you a Happy New Year! We’re expecting great things in 2024.

I look forward to sharing news, spotlights of businesses and events that make our vibrant community a great place to live, work and play.

Chris Coetzer
Founder/Publisher
Cary Spotlight

Properties Sold in Cary, NC for Week of 30 Dec 2023 (Data source: Redfin)

Property Type: Single Family Residential.

There were 12 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 $627,871.

The average size in square feet for houses sold is 2,503.

The average price per square foot for houses that sold is $258.

The properties are listed from highest SOLD PRICE to lowest:

1. Address: 516 Mountain Sunset Ln, Cary, NC 27519,
   Sold Price: $846,000, Beds: 3, Baths: 3.0, Size: 2706 sqft
   

2. Address: 226 Crayton Oak Dr, Cary, NC 27519,
   Sold Price: $813,736, Beds: 3, Baths: 3.0, Size: 2805 sqft
   

3. Address: 428 Crayton Oak Dr, Cary, NC 27519,
   Sold Price: $809,965, Beds: 4, Baths: 3.0, Size: 2832 sqft
   

4. Address: 420 Crayton Oak Dr, Cary, NC 27519,
   Sold Price: $720,848, Beds: 2, Baths: 2.0, Size: 1781 sqft
   

5. Address: 109 Queensferry Dr, Cary, NC 27511,
   Sold Price: $700,000, Beds: 5, Baths: 3.0, Size: 3298 sqft
   

6. Address: 108 N Tamilynn Cir, Cary, NC 27513,
   Sold Price: $620,000, Beds: 4, Baths: 2.5, Size: 2600 sqft
   

7. Address: 102 Deanscroft Ct, Cary, NC 27518,
   Sold Price: $610,000, Beds: 4, Baths: 2.5, Size: 2433 sqft
   

8. Address: 605 Trappers Run, Cary, NC 27513,
   Sold Price: $543,900, Beds: 4, Baths: 2.5, Size: 2640 sqft
   

9. Address: 100 Forest Edge Dr, Cary, NC 27518,
   Sold Price: $535,000, Beds: 3, Baths: 2.5, Size: 2569 sqft
   

10. Address: 221 Brendan Choice Dr, Cary, NC 27511,
    Sold Price: $525,000, Beds: 4, Baths: 2.5, Size: 3107 sqft
    

11. Address: 119 Chimney Rise Dr, Cary, NC 27511,
    Sold Price: $430,000, Beds: 3, Baths: 2.5, Size: 2051 sqft
    

12. Address: 1209 Selwyn Ln, Cary, NC 27511, 
    Sold Price: $380,000, Beds: 3, Baths: 2.0, Size: 1219 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. Predictions for the US Housing Market in 2024: Top experts predict that there will be a 1% drop in home prices by the end of 2024, with the 30-year mortgage rate averaging around 6.6%. This is indicative of a slight cooling in the real estate market, reflecting broader economic trends and possibly increased affordability for buyers​
   Read Source
   

2. Mortgage Rate Trends: As of the last week of December 2023, the average 30-year mortgage rate peaked at 7.79%, while the 15-year rate topped out at 7.03%. This recent historical high points to the volatility and upward trend in mortgage rates, impacting affordability and borrowing costs for homebuyers​.
   Read Source
   

3. Home Price Growth Trends: The Federal Housing Finance Agency's Home Price Index reported an increase in October from September, but at a more modest pace compared to the S&P CoreLogic Case-Shiller data. This suggests a slowing yet persistent rise in home prices into 2024​. 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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