In this Cary Spotlight Issue…

💭Spotlight Hook Trivia

🔥 Meme of the Day

🏡 Cary Real Estate: Properties Sold in Cary Last Week

❤️You’re So Sweet: Thank You, Deborah!

🏡 Real Estate and Mortgage Trends

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

Question: What country is home to the Great Victoria Desert?

(Answer at the bottom of the newsletter.)

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Properties Sold in Cary, NC for Week of 29 December 2024 (Data source: Redfin)

Property Type: Single Family Residential.

There were 9 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 $726,333

The median price for all properties sold is $715,000*

The average size in square feet for houses sold is 2,647

The average price per square foot for houses that sold is $287

*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: 1 homes sold, Median Price: $730,000

• 27513: 4 homes sold, Median Price: $581,000

• 27518: 2 homes sold, Median Price: $622,500

• 27519: 2 homes sold, Median Price: $1,007,500

Just curious…

The properties are listed from highest SOLD PRICE to lowest:

 Click on the address to view listing.

707 Dominion Hill Dr, Cary, NC 27519 | Sold Price: $1,080,000 | 4 Beds, 4.5 Baths | Size: 4,190 sq ft

108 Old Pros Way, Cary, NC 27513 | Sold Price: $955,000 | 4 Beds, 2.5 Baths | Size: 2,783 sq ft

204 Seymour Creek Dr, Cary, NC 27519 | Sold Price: $935,000 | 5 Beds, 2.5 Baths | Size: 3,700 sq ft

302 Kelso Ct, Cary, NC 27511 | Sold Price: $730,000 | 2 Beds, 2.5 Baths | Size: 2,331 sq ft

104 Lippershey Ct, Cary, NC 27513 | Sold Price: $715,000 | 3 Beds, 2.5 Baths | Size: 2,346 sq ft

110 Dagenham Ln, Cary, NC 27518 | Sold Price: $715,000 | 5 Beds, 2.5 Baths | Size: 3,705 sq ft

316 Camden Branch Dr, Cary, NC 27518 | Sold Price: $530,000 | 3 Beds, 2.5 Baths | Size: 2,124 sq ft

224 Amberglow Pl, Cary, NC 27513 | Sold Price: $447,000 | 2 Beds, 2.0 Baths | Size: 1,246 sq ft

106 Carla Ct, Cary, NC 27513 | Sold Price: $430,000 | 3 Beds, 2.0 Baths | Size: 1,399 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.

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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 December 27, 2024, Mortgage News Daily reports the following average mortgage rates:

• 30-Year Fixed Rate: 7.11%

• 30-Year Jumbo: 7.33%

• 30-Year FHA: 6.45%

• 30-Year VA: 6.46%

These rates are subject to change and can vary based on individual circumstances and lender policies. For the most current and personalized rates, it's advisable to consult directly with lenders or financial advisors.

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:

• Home Sales Rebound: In November, U.S. new single-family home sales rebounded by 5.9% to a seasonally adjusted annual rate of 664,000 units, following a previous decline due to hurricanes. However, rising mortgage rates may pose challenges for future sales. Source: Reuters

• Top Housing Markets for 2025: The NAR has identified the top 10 U.S. housing markets to watch in 2025, including Boston and Kansas City. Factors such as job growth, affordability, and competitive financing are expected to drive housing market activity in these areas. Source: New York Post

• Home-Buying Trends: Experts predict that the 2025 home-buying market will be characterized by longer time on the market for homes, a decrease in home prices, high demand for move-in-ready homes, economic uncertainty influencing buyer behavior, and potential for decreased interest rates. Source: Better Homes & Gardens

These developments suggest a dynamic landscape for mortgage rates and the real estate market as we transition into 2025.

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