In this Cary Spotlight Issue…
💭Spotlight Hook Trivia
🔥 Meme of the Day
🏡 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.
Question: What is the name of the strait that separates Spain from Morocco?
(Answer at the bottom of the newsletter.)
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Holiday Deals Made Easy: Cary Spotlight’s Cyber Monday Favorites
Cary Spotlight celebrates the holiday season by simplifying Cyber Monday shopping for its readers with a carefully curated list of 18 top deals. Each product combines practicality and fun, from tech favorites like Apple AirPods Pro and Wyze Cam v3 to home essentials like the Dyson V8 Cordless Vacuum and Instant Pot Duo.
Don’t miss your chance to snag these top-rated products before they sell out!
Properties Sold in Cary, NC for Week of 01 December 2024 (Data source: Redfin)
Property Type: Single Family Residential.
There were 18 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 $742,972
The median price for all properties sold is $690,000*
The average size in square feet for houses sold is 3,228
The average price per square foot for houses that sold is $240
*The median price being lower than the average (mean) sale price in this case typically suggests that there are a few higher-priced properties pulling the average up.
The number of homes sold by Postal Code:
27511: 3 homes sold, Median Price: $390,000
27513: 3 homes sold, Median Price: $605,000
27518: 2 homes sold, Median Price: $804,500
27519: 6 homes sold, Median Price: $845,000
Just curious…
Do you think property prices will rise or fall in the next 12 months?
The properties are listed from highest SOLD PRICE to lowest:
Click on the address to view listing.
Address: 7128 Misty Springs Ct, Cary, NC 27519 Sold Price: $1,672,000 Beds: 6 Baths: 7.0 Size: 8,194 sq ft
Address: 117 Rapidan Ct, Morrisville, NC 27560 Sold Price: $1,135,000 Beds: 5 Baths: 4.5 Size: 5,269 sq ft
Address: 411 Selwood Pl, Cary, NC 27519 Sold Price: $975,000 Beds: 5 Baths: 5.0 Size: 4,913 sq ft
Address: 219 Billingrath Turn Ln, Cary, NC 27519 Sold Price: $970,000 Beds: 5 Baths: 3.5 Size: 4,039 sq ft
Address: 317 Barthel Dr, Cary, NC 27513 Sold Price: $900,000 Beds: 5 Baths: 4.5 Size: 4,375 sq ft
Address: 262 Crestmont Ridge Dr, Apex, NC 27523 Sold Price: $875,000 Beds: 5 Baths: 4.0 Size: 3,185 sq ft
Address: 200 Summerwinds Dr, Cary, NC 27518 Sold Price: $875,000 Beds: 4 Baths: 2.5 Size: 3,050 sq ft
Address: 213 Foskey Drive Dr, Cary, NC 27518 Sold Price: $734,000 Beds: 4 Baths: 3.5 Size: 3,286 sq ft
Address: 135 Naperville Dr, Cary, NC 27519 Sold Price: $720,000 Beds: 4 Baths: 2.5 Size: 2,837 sq ft
Address: 203 Carpenter Brook Dr, Cary, NC 27519 Sold Price: $660,000 Beds: 3 Baths: 2.5 Size: 2,303 sq ft
Address: 101 Barons Glenn Way, Cary, NC 27513 Sold Price: $605,000 Beds: 4 Baths: 2.5 Size: 2,471 sq ft
Address: 100 Citrus Pl, Cary, NC 27519 Sold Price: $585,000 Beds: 4 Baths: 2.5 Size: 2,996 sq ft
Address: 1017 Winwood Dr, Cary, NC 27511 Sold Price: $515,000 Beds: 5 Baths: 3.5 Size: 2,660 sq ft
Address: 6205 Arrington Rd, Raleigh, NC 27607 Sold Price: $480,000 Beds: 4 Baths: 2.0 Size: 1,994 sq ft
Address: 116 Kudrow Ln, Morrisville, NC 27560 Sold Price: $474,500 Beds: 3 Baths: 2.0 Size: 1,332 sq ft
Address: 107 Jodhpur Dr, Cary, NC 27513 Sold Price: $430,000 Beds: 3 Baths: 2.5 Size: 1,843 sq ft
Address: 902 Vickie Dr, Cary, NC 27511 Sold Price: $390,000 Beds: 4 Baths: 2.5 Size: 1,809 sq ft
Address: 1415 Suterland Rd, Cary, NC 27511 Sold Price: $378,000 Beds: 3 Baths: 2.0 Size: 1,554 sq ft
Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial, legal, or real estate advice. Real estate transactions and mortgage decisions involve complex financial assessments that vary based on individual circumstances and market conditions. Speak to a licensed mortgage and real estate professional before making any investment or financial decision related to real estate. The authors and publishers of this newsletter are not liable for any financial or investment decisions made based on this content.
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Real Estate and Mortgage Trends
Several noteworthy developments regarding mortgage rates and real estate trends in the USA:
Mortgage Rates:
As of November 27, 2024, the national average mortgage rates reported by Mortgage News Daily are:
30-Year Fixed Rate: 6.92%
30-Year Jumbo: 7.10%
30-Year FHA: 6.25%
30-Year VA: 6.25%
These rates are subject to change and can vary based on individual circumstances and lender policies. For the most current information, please refer to Mortgage News Daily's rate index.
Real Estate Trends:
Over the past week, several notable developments have emerged in the U.S. real estate market:
Homebuyers Navigate a Complex Market: Buyers are encountering fluctuating mortgage rates and evolving agent commission structures, leading to a significant drop in home sales, with projections indicating the lowest numbers since 1995. Source: The Wall Street Journal
Renting Becomes More Affordable Than Buying: With the median rental price at $1,720 and the median home listing price at $425,950, renting has become a more cost-effective option in major metro areas, offering flexibility and lower upfront costs compared to homeownership. Source: New York Post
Favorable Conditions for Homebuyers: The current market offers the most favorable conditions for homebuyers in the past five years, with increased housing inventory and reduced median home prices, giving buyers more options and negotiating power. Source: New Your Post
These developments highlight the dynamic nature of the current U.S. real estate market, with opportunities and challenges for both buyers and investors.
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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The Answer to the Cary Spotlight Hook Trivia Question 👇👇👇
The Strait of Gibraltar is the narrow waterway that separates Spain in Europe from Morocco in Africa, connecting the Atlantic Ocean to the Mediterranean Sea. Spanning about 13 kilometers (8 miles) at its narrowest point, this strait has been a crucial maritime passage for centuries, facilitating trade and cultural exchange between continents. Its strategic significance and breathtaking views make it a geographical and historical landmark.
For more information, visit Britannica's entry on the Strait of Gibraltar.