In this Cary Spotlight Issue…

💭Spotlight Hook Trivia

🔥 Daily Quote

🏡 Cary Real Estate: Properties Sold in Cary Last Week

💡 Real Estate and Mortgage Trends

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Properties Sold in Cary, NC for Week of 23 June 2024 (Data source: Redfin)

Property Type: Single Family Residential.

There were 40 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 $736,562

The average size in square feet for houses sold is 2,598

The average price per square foot for houses that sold is $288

The number of homes sold by Postal Code:

• 27511: 6 homes

• 27513: 3 homes

• 27518: 9 homes

• 27519: 22 homes

• 27539: 0 homes

The properties are listed from highest SOLD PRICE to lowest:

 Click on the address to view listing. We listed the top 25 listings

105 Parmalee Ct, Cary, NC 27519 Sold Price: $1427500 Beds: 4 Baths: 3.5 Size: 3704 sq ft

104 Draymore Way, Cary, NC 27519 Sold Price: $1370000 Beds: 5 Baths: 4.5 Size: 4360 sq ft

206 Lochside Dr, Cary, NC 27518 Sold Price: $1165000 Beds: 4 Baths: 2.5 Size: 3362 sq ft

103 Barnbridge Ct, Cary, NC 27519 Sold Price: $985000 Beds: 4 Baths: 3.5 Size: 3120 sq ft

5703 Highcroft Dr, Cary, NC 27519 Sold Price: $975000 Beds: 4 Baths: 3.5 Size: 3416 sq ft

7021 Talton Ridge Dr, Cary, NC 27519 Sold Price: $910000 Beds: 5 Baths: 4.0 Size: 3273 sq ft

308 Lochside Dr, Cary, NC 27518 Sold Price: $905000 Beds: 4 Baths: 2.5 Size: 3358 sq ft

3021 Bear Oak Ln, Cary, NC 27519 Sold Price: $899000 Beds: 4 Baths: 4.5 Size: 4015 sq ft

415 Felspar Way, Cary, NC 27518 Sold Price: $875000 Beds: 4 Baths: 3.5 Size: 3361 sq ft

3919 Overcup Oak Ln, Cary, NC 27519 Sold Price: $870000 Beds: 5 Baths: 4.0 Size: 3622 sq ft

406 April Bloom Ln, Cary, NC 27519 Sold Price: $845000 Beds: 4 Baths: 3.5 Size: 3554 sq ft

118 Kelekent Ln, Cary, NC 27518 Sold Price: $790000 Beds: 4 Baths: 2.5 Size: 3050 sq ft

117 Bergeron Way, Cary, NC 27519 Sold Price: $780000 Beds: 4 Baths: 2.5 Size: 2542 sq ft

270 Beckingham Loop, Cary, NC 27519 Sold Price: $760000 Beds: 3 Baths: 2.0 Size: 2500 sq ft

208 Kilmorack Dr, Cary, NC 27511 Sold Price: $750000 Beds: 4 Baths: 2.5 Size: 3212 sq ft

100 Rivergreen Ct, Cary, NC 27518 Sold Price: $750000 Beds: 5 Baths: 3.5 Size: 3301 sq ft

213 Wedgemere St, Cary, NC 27519 Sold Price: $738000 Beds: 4 Baths: 2.5 Size: 2774 sq ft

524 Crooked Pine Dr, Cary, NC 27519 Sold Price: $730295 Beds: 3 Baths: 3.0 Size: 2290 sq ft

103 Cricketfield Ln, Cary, NC 27518 Sold Price: $725000 Beds: 5 Baths: 2.5 Size: 2884 sq ft

1204 Sand Pine Dr, Cary, NC 27519 Sold Price: $725000 Beds: 4 Baths: 2.5 Size: 2547 sq ft

101 Chalkwell Ct, Cary, NC 27519 Sold Price: $710000 Beds: 4 Baths: 2.5 Size: 2614 sq ft

105 Magnolia Bloom Ct, Cary, NC 27519 Sold Price: $700000 Beds: 4 Baths: 2.5 Size: 2363 sq ft

1805 Stonebanks Loop, Cary, NC 27518 Sold Price: $700000 Beds: 4 Baths: 3.0 Size: 2827 sq ft

102 Lulworth Ct, Cary, NC 27519 Sold Price: $680680 Beds: 4 Baths: 2.5 Size: 2182 sq ft

100 Earnscliff Ct, Cary, NC 27519 Sold Price: $655000 Beds: 4 Baths: 2.5 Size: 2133 sq ft

Click Here For the Full List of All Properties Sold Last Week

Real Estate and Mortgage Trends

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

Mortgage Rates:

• The average 30-year fixed mortgage rate has decreased for the third consecutive week, now averaging around 6.87% as of June 20, 2024, which is the lowest level since early April​
  Sources: (Money)​​ (The Mortgage Reports)​.

• Similarly, the 15-year fixed mortgage rate has dropped to 6.13%​ Sources: (Money)​​ (The Mortgage Reports)​.

• Despite these decreases, the rates are expected to remain within a narrow band of 7.0-7.5% for most of 2024 due to ongoing inflation concerns and Federal Reserve policies​
  Sources: (LendingTree)​​ (The Mortgage Reports)​.

Real Estate Trends:

• The real estate market continues to face challenges with low inventory and high prices. Home sales have been subdued, with a significant reduction in purchase volume compared to the same period last year​ Sources: (www.nar.realtor)​​ (Norada Real Estate Investments)​.

• The "mortgage rate lock-in" effect is contributing to the low inventory, as many homeowners with mortgages below 4% are reluctant to sell​ Source: (LendingTree)​.

• Despite the lower sales volume, home prices have continued to rise, driven by the limited supply and steady demand​
  Source: (www.nar.realtor)​.

Overall, while there is some relief in mortgage rates, the broader real estate market remains tight, with affordability being a significant concern for potential homebuyers. It's advisable for prospective buyers and those looking to refinance to shop around for the best rates and consider their timing carefully given the current economic conditions​

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

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