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 body of water separates Saudi Arabia from Africa?

(Answer at the bottom of the newsletter.)

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Properties Sold in Cary, NC for Week of 08 December 2024 (Data source: Redfin)

Property Type: Single Family Residential.

There were 24 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 $802,583

The median price for all properties sold is $708,500*

The average size in square feet for houses sold is 3,080

The average price per square foot for houses that sold is $257

*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: 4 homes sold, Median Price: $437,500

• 27513: 6 homes sold, Median Price: $660,000

• 27518: 7 homes sold, Median Price: $760,000

• 27519: 7 homes sold, Median Price: $905,000

Just curious…

The properties are listed from highest SOLD PRICE to lowest:

 Click on the address to view listing.

104 Woodsage Way, Cary, NC 27518 - Sold Price: $1,520,000, 5 Beds, 4.5 Baths, Size: 5263 sq. ft.

1006 Oldham Forest Crossing Xing, Cary, NC 27513 - Sold Price: $1,416,000, 4 Beds, 4.5 Baths, Size: 5157 sq. ft.

105 Level Ridge Dr, Cary, NC 27519 - Sold Price: $1,400,000, 6 Beds, 5.0 Baths, Size: 5111 sq. ft.

317 Greenfield Knoll Dr, Cary, NC 27519 - Sold Price: $1,375,000, 5 Beds, 4.5 Baths, Size: 5170 sq. ft.

200 Benwell Ct, Cary, NC 27519 - Sold Price: $1,175,000, 6 Beds, 4.5 Baths, Size: 4612 sq. ft.

106 Lochwood East Dr, Cary, NC 27518 - Sold Price: $995,000, 4 Beds, 3.0 Baths, Size: 3222 sq. ft.

108 Rose Sky Ct, Cary, NC 27513 - Sold Price: $980,000, 4 Beds, 2.5 Baths, Size: 3237 sq. ft.

208 Townsend Ct, Cary, NC 27518 - Sold Price: $925,000, 4 Beds, 2.5 Baths, Size: 3668 sq. ft.

208 April Bloom Ln, Cary, NC 27519 - Sold Price: $905,000, 4 Beds, 3.5 Baths, Size: 3716 sq. ft.

222 Stablegate Dr, Cary, NC 27513 - Sold Price: $770,000, 4 Beds, 2.5 Baths, Size: 2742 sq. ft.

108 Selly Manor Ct, Cary, NC 27518 - Sold Price: $760,000, 4 Beds, 2.5 Baths, Size: 2856 sq. ft.

537 Front Ridge Dr, Cary, NC 27519 - Sold Price: $712,000, 4 Beds, 3.5 Baths, Size: 3115 sq. ft.

3601 Manifest Pl, Cary, NC 27519 - Sold Price: $705,000, 4 Beds, 3.5 Baths, Size: 2705 sq. ft.

115 Olde Tree Dr, Cary, NC 27518 - Sold Price: $695,000, 3 Beds, 2.5 Baths, Size: 2709 sq. ft.

106 Hafton Ct, Cary, NC 27518 - Sold Price: $660,000, 3 Beds, 2.5 Baths, Size: 2775 sq. ft.

225 Euphoria Cir, Cary, NC 27519 - Sold Price: $605,000, 4 Beds, 2.5 Baths, Size: 2476 sq. ft.

208 Kirkfield Dr, Cary, NC 27518 - Sold Price: $600,000, 3 Beds, 2.5 Baths, Size: 2228 sq. ft.

114 Ripley Ct, Cary, NC 27513 - Sold Price: $550,000, 3 Beds, 2.5 Baths, Size: 2369 sq. ft.

1110 Ashford Ln, Cary, NC 27511 - Sold Price: $524,000, 4 Beds, 2.5 Baths, Size: 2068 sq. ft.

1024 Ivy Ln, Cary, NC 27511 - Sold Price: $450,000, 4 Beds, 3.0 Baths, Size: 1985 sq. ft.

308 Dunhagan Pl, Cary, NC 27511 - Sold Price: $425,000, 3 Beds, 2.0 Baths, Size: 1683 sq. ft.

109 S Corncrib Ct #0, Cary, NC 27513 - Sold Price: $415,000, 4 Beds, 2.5 Baths, Size: 2185 sq. ft.

1203 Selwyn Ln, Cary, NC 27511 - Sold Price: $400,000, 2 Beds, 2.5 Baths, Size: 1843 sq. ft.

704 Barrett Woods Ct, Cary, NC 27513 - Sold Price: $300,000, 3 Beds, 1.5 Baths, Size: 1035 sq. ft.

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

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.

Real Estate and Mortgage Trends

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

Mortgage Rates:

As of December 6, 2024, Mortgage News Daily reports the following average mortgage rates:

• 30-Year Fixed Rate: 6.68%

• 30-Year Jumbo: 6.98%

• 30-Year FHA: 6.12%

• 30-Year VA: 6.13%

These rates reflect a decrease from the previous day, with the 30-Year Fixed Rate dropping by 0.16%, the 30-Year Jumbo by 0.02%, the 30-Year FHA by 0.07%, and the 30-Year VA by 0.07%.

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:

• Sluggish Market Pace: In November, the housing market experienced its slowest pace in five years, with homes remaining on the market for an average of 62 days—11 days longer than the same period last year. Despite a slight 0.7% decrease in the median home price to $416,880, the market saw an increase in more affordable, smaller homes, providing additional options for budget-conscious buyers Source: New York Post

• 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

• Increased Inventory: Active listings surged by 26.2%, reaching the highest inventory levels since December 2019. However, the number of newly listed homes grew modestly, indicating continued caution among sellers. 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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