In this Cary Spotlight Issue…

💭Spotlight Hook Trivia

☀️ Cary NC Weather

🏡 Cary Real Estate: Properties Sold in Cary Last Week

🔍 FREE Report of the Estimated Selling Price for Your Home

🏡 U.S. Trends in Mortgage & Real Estate

🏡 Mortgage Tip

😀 Viral Meme

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

Question: Which actor on the television show "One Tree Hill," who was born in Charlotte, NC and then moved to Cary, NC for Middle School?

A) Bevin Prince B) Alvin Cooley C) Tom Hanks

(Answer at the bottom of the newsletter.)

Properties Sold in Cary, NC for Week of 27 Jan 2024 (Data source: Redfin)

Property Type: Single Family Residential.

There were 11 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 $919,863

The average size in square feet for houses sold is 3,361.

The average price per square foot for houses that sold is $276.

The properties are listed from highest SOLD PRICE to lowest:

• Address: 206 Walford Way, Cary, NC 27519,
  Sold Price: $1,875,000, Beds: 6, Baths: 6.5, Size: 6838 sqft
  

• Address: 825 Reigh Count Pl, Cary, NC 27519,
  Sold Price: $1,281,000, Beds: 5, Baths: 4.0, Size: 4180 sqft
  

• Address: 4508 Chandler Creek Pl, Cary, NC 27539,
  Sold Price: $1,050,000, Beds: 4, Baths: 4.0, Size: 3309 sqft
  

• Address: 5648 Teversham Way, Cary, NC 27519,
  Sold Price: $900,000, Beds: 5, Baths: 4.0, Size: 3339 sqft
  

• Address: 100 Panoramic Ct, Cary, NC 27519,
  Sold Price: $884,000, Beds: 4, Baths: 3.5, Size: 3716 sqft
  

• Address: 507 Gallberry Dr, Cary, NC 27519,
  Sold Price: $880,000, Beds: 5, Baths: 4.5, Size: 3809 sqft
  

• Address: 100 Kettlewell Ct, Cary, NC 27519,
  Sold Price: $818,500, Beds: 4, Baths: 3.5, Size: 2780 sqft
  

• Address: 1533 Lily Creek Dr, Cary, NC 27518,
  Sold Price: $680,000, Beds: 5, Baths: 3.0, Size: 2760 sqft
  

• Address: 526 Carolyn Ct, Cary, NC 27511,
  Sold Price: $595,000, Beds: 4, Baths: 2.5, Size: 2344 sqft
  

• Address: 216 Dutchess Dr, Cary, NC 27513,
  Sold Price: $580,000, Beds: 5, Baths: 3.0, Size: 2325 sqft
  

• Address: 321 Bickerton Ct, Cary, NC 27519, 
  Sold Price: $575,000, Beds: 3, Baths: 2.0, Size: 1567 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. Housing Market Dynamics: The impact of higher interest rates was felt significantly in the housing market in 2023, leading to the lowest total annual home sales since 2012. Existing home sales averaged around 4.1 million through November 2023, and the existing housing inventory, while growing, remained low by historical standards. The rate-lock effect, where homeowners are reluctant to sell due to higher current mortgage rates compared to their locked-in low rates, continued to influence the market, pushing buyers towards new homes.
   Read Source
   

2. Mortgage Rate Trends: There's a growing optimism among consumers about potential declines in mortgage rates over the next year. After peaking at 7.79% in October 2023, mortgage rates fell to 6.61% by the end of the year. This drop in rates has contributed to increased buyer activity. However, industry forecasts suggest only modest improvements in mortgage activity for 2024 due to affordability challenges and stagnant housing inventory.

3. What happened to mortgage rates in the US in Jan. 2024? As of mid-January 2024, the average 30-year fixed mortgage rate was reported at 6.6%, the lowest level since May 2023. The average 15-year fixed rate was also lower, recorded at 5.76%
   Read Source

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