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

This is the Real Estate Edition: local news and events will be back on Tuesday.

Properties Sold in Cary, NC for Week of 6 Jan 2024 (Data source: Redfin)

Property Type: Single Family Residential.

There were 4 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 $626,750.

The average size in square feet for houses sold is 2,391.

The average price per square foot for houses that sold is $269.

The properties are listed from highest SOLD PRICE to lowest:

1. Address: 138 Lochwood West Dr, Cary, NC 27518 |
   Sold Price: $1,000,000 | Beds: 4 | Baths: 4.0 | Size: 3,916 sqft
   

2. Address: 309 Crickentree Dr, Cary, NC 27518 |
   Sold Price: $640,000 | Beds: 4 | Baths: 2.5 | Size: 2,652 sqft
   

3. Address: 100 Carbon Hill Ct, Cary, NC 27519 |
   Sold Price: $510,000 | Beds: 3 | Baths: 2.5 | Size: 1,771 sqft
   

4. Address: 1614 Burnley Dr, Cary, NC 27511 |
   Sold Price: $357,000 | Beds: 3 | Baths: 2.0 | Size: 1,225 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​.
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2. Real Estate Market Trends: The U.S. real estate market showed strong signs at the end of 2023, with many indicators pointing to growth in 2024. This trend is expected to continue with a slow increase in inventory, hinting at a potentially more vibrant market for the coming year.
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3. Housing Market Forecast: The National Association of Realtors has an optimistic outlook, expecting mortgage rates to average below 7% by the start of the upcoming spring buying season and to end the year around 6.3%. Contrarily, Realtor.com expects rates to average 6.5% by the end of 2024. Additionally, the National Association of Realtors' chief economist predicts a 13% increase in home sales in 2024, indicating a potentially robust year for the real estate market.

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   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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