The Cary Home Report is a weekly column that checks in on Cary’s real estate market. A new report is published each Sunday.
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Mortgage rates just notched an 11-month low. Freddie Mac’s survey shows the 30-year fixed at 6.50% as of September 4, down from 6.56% the prior week. Lower payments should help affordability at the margin, but buyer activity remains measured.
Inventory continues to improve year over year. Realtor.com’s latest national read shows July active listings up 24.8% from a year ago, the 21st straight month of growth, though still below pre-pandemic levels. Late-August weekly tracking also flagged three consecutive weeks of flat prices as some sellers paused or repriced.
Redfin’s weekly update paints a similar picture: rates eased, yet demand ticked up only modestly, with pending sales up 1.6% from a year ago and days to pending elongating versus typical summers. Statewide, North Carolina had roughly 24% more homes for sale in July than a year earlier.
Cary’s Snapshot
Zillow’s Home Value Index pegs the typical Cary home value at about $632,558, down 0.7% year over year, with the typical home going pending in around 18 days. That combination suggests pricing is relatively steady while time on market remains faster than many metros.
What it means for buyers and sellers
- Buyers: Slightly lower rates plus more selection can improve negotiating power. Focus on well-priced homes that have been on the market a few weeks.
- Sellers: Price right out of the gate. Weekly data shows buyers are sensitive to sticker shock, and stale listings risk reductions or delisting.
Three homes for sale in Cary this week
Click the address for most up-to-date listing information.
- Entry — 534 Matheson Pl, Cary, NC 27511
3 beds, 2.5 baths, ~1,457 sq ft. Townhome near Downtown Cary Park, hardwoods, community pool and gym. Listed ~$379,000.
4 beds, 2.5 baths, ~2,814 sq ft. Updated kitchen, screened porch, Glenridge community amenities. Listed ~$700,000.
5 beds, 5.5 baths, ~4,166 sq ft. Brick estate in Lochmere with lake views, screened porch, landscaped lot. Listed ~$1,600,000.
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