The Cary Home Report – Week of August 21st, 2023.
July housing data is finally in, showing an increase in median sale price. In June, the median sale price for a single-family house in Cary was $625,000. For July, it was $633,000 (an 11.5 increase from last year).
Days on the market compared to last year did not change much. Homes stayed on the market for an average of 33 days, compared to 32 days last year.
54.8% of homes sold above the list price in July. While this may seem high, that number was closer to 80% for the latter half of 2021 and the first half of 2022.
Here are a few homes that sold last week in Cary:
Final selling price: $342,500 (10.5% above the listing price of $310,000)
This quaint 2 bed, 2.5 bath townhome had its sale finalized and then was listed for rent (at $1,725/month) the very next day, indicating that this was likely bought as an investment property. Sitting at 1237 sqft, this townhome is about 2 miles from downtown Cary, plotted next to the beautiful Higgins Greenway that is currently planned for expansion (with construction starting at the end of the year).
Final selling price: $475,000 (5.6% over the listing price of $450,000)
This 3 bed, 3 bath, single-family home is in a quiet neighborhood, but still just a few minutes away from shopping, grocery stores, and restaurants. The home boasts 1,580 sqft and has a small fenced-in backyard. The community it sits in has a neighborhood pool and tennis courts for residents to enjoy.
Final selling price: $576,000 (9.8% above the listing price of $525,000)
This newly updated 4 bed, 3 bath, 2,053 sqft single-family home is located just north of downtown. This home had some major renovations done in the past few years, including a new roof, new exterior paint, and new flooring. It boasts a shady and quiet backyard and is nestled near the end of a cul-de-sac.
Weekly Rental Update
Here are the median monthly rental costs in Cary (as of this week, courtesy of Zumper)
1 Bedroom: $1,525
2 Bedroom: $1,750
3 Bedroom: $2,120
4 Bedroom: $2,575
That’s all for this week. Next week, we will provide updated housing data and take a look at more properties that sold during the week.