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  • Cary Spotlight (Real Estate) Issue #217: Properties Sold in Cary

Cary Spotlight (Real Estate) Issue #217: Properties Sold in Cary

27 May 2024 | Cary Real Estate Edition

In this Cary Spotlight Issue…

💭Spotlight Hook Trivia

🏡 Cary Real Estate: Properties Sold in Cary Last Week

💡 Real Estate and Mortgage Trends

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

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Founder/Publisher
Cary Spotlight

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Question: What is the reason why most staircases in medieval castles were built to be extremely narrow and spiraling in a clockwise direction?

(Answer at the bottom of the newsletter.)

Cary Real Estate Advisory Counsel

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Partner with us to reach our local audience in Cary, NC.

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Properties Sold in Cary, NC for Week of 26 May 2024 (Data source: Redfin)

Property Type: Single Family Residential.

There were 26 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 $881,460

The average size in square feet for houses sold is 3,155

The average price per square foot for houses that sold is $281

The number of homes sold by Postal Code:

  • 27511: 3 homes

  • 27513: 9 homes

  • 27518: 4 homes

  • 27519: 10 homes

  • 27539: 0 homes

The properties are listed from highest SOLD PRICE to lowest:

 Click on the address to view listing.

216 Turquoise Crk, Cary, NC 27513 Sold Price: $1,600,000
Beds: 6 Baths: 3.5 Size: 6139 sqft

1233 Montvale Ridge Dr, Cary, NC 27519 Sold Price: $1,578,000
Beds: 4 Baths: 4.0 Size: 3574 sqft

349 Bolton Grant Dr, Cary, NC 27519 Sold Price: $1,400,000
Beds: 6 Baths: 5.5 Size: 4445 sqft

304 Parkman Grant Dr, Cary, NC 27519 Sold Price: $1,276,000
Beds: 6 Baths: 5.0 Size: 4545 sqft

545 Nickel Creek Cir, Cary, NC 27519 Sold Price: $1,185,000
Beds: 3 Baths: 3.0 Size: 3407 sqft

115 Summerview Ln, Cary, NC 27518 Sold Price: $1,150,000
Beds: 4 Baths: 3.5 Size: 3460 sqft

705 Dominion Hill Dr, Cary, NC 27519 Sold Price: $1,115,000
Beds: 4 Baths: 4.5 Size: 3867 sqft

802 Willowmist Ct, Cary, NC 27519 Sold Price: $1,090,000
Beds: 4 Baths: 3.5 Size: 3733 sqft

112 Streelman Way, Cary, NC 27513 Sold Price: $1,070,000
Beds: 5 Baths: 5.0 Size: 4851 sqft

1416 Bond Gardens Rd, Cary, NC 27518 Sold Price: $986,000
Beds: 5 Baths: 4.5 Size: 4501 sqft

103 Horne Creek Ct, Cary, NC 27519 Sold Price: $950,000
Beds: 5 Baths: 3.5 Size: 3727 sqft

127 Beckingham Loop, Cary, NC 27519 Sold Price: $920,000
Beds: 4 Baths: 4.5 Size: 4449 sqft

713 Shell Bank Ct, Cary, NC 27519 Sold Price: $905,080
Beds: 4 Baths: 3.0 Size: 3067 sqft

108 Glen Abbey Dr, Cary, NC 27513 Sold Price: $905,000
Beds: 4 Baths: 2.5 Size: 2627 sqft

110 Gorge Ct, Cary, NC 27518 Sold Price: $900,000
Beds: 5 Baths: 2.5 Size: 3263 sqft

106 Swiss Lake Dr, Cary, NC 27513 Sold Price: $785,000
Beds: 4 Baths: 2.5 Size: 2682 sqft

103 Gables Point Way, Cary, NC 27513 Sold Price: $640,000
Beds: 4 Baths: 2.5 Size: 2641 sqft

103 Milley Brook Ct, Cary, NC 27519 Sold Price: $625,000
Beds: 3 Baths: 2.5 Size: 2212 sqft

1217 Shincliffe Ct, Cary, NC 27511 Sold Price: $611,888
Beds: 4 Baths: 3.0 Size: 2231 sqft

1207 Nottingham Dr, Cary, NC 27511 Sold Price: $600,000
Beds: 3 Baths: 2.5 Size: 2174 sqft

123 Solstice Cir, Cary, NC 27513 Sold Price: $505,000
Beds: 3 Baths: 2.5 Size: 1945 sqft

106 Catherwood Pl, Cary, NC 27518 Sold Price: $490,000
Beds: 3 Baths: 2.5 Size: 1821 sqft

908 Castalia Dr, Cary, NC 27513 Sold Price: $485,000
Beds: 3 Baths: 2.0 Size: 2282 sqft

103 Angora Ct, Cary, NC 27513 Sold Price: $435,000
Beds: 3 Baths: 2.0 Size: 1383 sqft

1113 Yorkshire Dr, Cary, NC 27511 Sold Price: $431,000
Beds: 4 Baths: 3.0 Size: 2001 sqft

406 Madison Ave, Cary, NC 27513 Sold Price: $280,000
Beds: 2 Baths: 1.5 Size: 1008 sqft

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Real Estate and Mortgage Trends

Several noteworthy developments regarding mortgage rates and real estate trends in the USA:

  1. Mortgage Rates Changes: As of May 24, 2024, the average interest rate for a 30-year fixed-rate mortgage slightly rose to 6.882% APR. Similarly, the rate for a 15-year fixed mortgage increased to 6.226% APR, while the 5-year adjustable-rate mortgage saw a minor decrease to 7.712% APR​ (NerdWallet: Finance smarter)​.

  2. Real Estate Listings: There has been a significant increase in new real estate listings, reaching a near 3-year high. This surge is attributed to the steady mortgage rates despite expectations of rate cuts by the Federal Reserve later in the year. The rise in listings suggests that homebuilders are gaining confidence due to pent-up demand and ongoing supply shortages​ (Realtor)​.

  3. Market Dynamics: The real estate market is experiencing mixed signals; while new listings are up, overall housing inventory remains substantially lower than pre-pandemic levels. Home prices have been relatively flat compared to the previous year, influenced by buyer hesitancy due to high mortgage rates. Some sellers are reducing asking prices to attract buyers amid growing inventory​ (Realtor)​.

These trends indicate a complex and shifting landscape in the U.S. real estate market, influenced by both economic factors like the Federal Reserve's decisions and underlying market dynamics such as supply and demand.

Editor’s Note: To make sense of Cary Real Estate consult a local Real Estate Agent with knowledge and expertise in the local market.

Just curious…

…

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The Answer to the Cary Spotlight Hook Trivia Question 👇👇👇

The reason why most staircases in medieval castles were built to be extremely narrow and spiraling in a clockwise direction is:

Since medieval castles were built mainly as fortifications, staircases were designed to make it extremely difficult for enemy combatants to fight their way up.

Since most soldiers were right-handed, they would need to round each curve of the inner wall before attempting to strike, inevitably exposing themselves in the process. The clockwise spiral staircase also allowed the defenders to use the inner wall as a partial shield and easily allow them to swing their weapon without being hindered by the curvature of the outer wall.

The stairs were also intentionally poorly lit and built to be uneven, making it even more difficult for the attackers to gain any sort of balance or momentum during their fight up to capture the castle.

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