Is Cary, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Cary has remained a Seller's Market.
Key Takeaway
Cary is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cary, NC
How much do homes in Cary, NC cost?
Median Sold Price
$585,538
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cary have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Cary was $585,538 in March 2024, up 3.7% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $214.4K | $217.5K | +1.4% |
| 2 Bedrooms | $334.5K | $355K | +6.1% |
| 3 Bedrooms | $479.9K | $520.1K | +8.4% |
| 4 Bedrooms | $623.3K | $669.9K | +7.5% |
| 5+ Bedrooms | $917K | $956.5K | +4.3% |
Summary: Cary housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.4%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Morrisville | $500.2K | $525K | +4.9% |
| Cary | $564.7K | $585.5K | +3.7% |
| Cary Township | $564.2K | $583.5K | +3.4% |
| White Oak Township | $579.8K | $576.5K | -0.6% |
| Cedar Fork Township | $544.6K | $537K | -1.4% |
Housing Supply in Cary, NC
How many homes are available in Cary, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 443 | 489 | +10.4% |
Summary: The Cary real estate market had 489 homes for sale in March 2024, a 10.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 58 | 51 | -12.1% |
| 3 Bedrooms | 170 | 178 | +4.7% |
| 4 Bedrooms | 146 | 168 | +15.1% |
| 5+ Bedrooms | 66 | 89 | +34.8% |
Summary: The Cary housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.1%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes increased by 34.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 127 | 161 | +26.8% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
37 Homes Were Sold
At Asking
72 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cary, you could pay more than the asking price. 44.7% of homes here sold above asking price last month.
Summary: A total of 161 homes were sold or pending in Cary in March 2024, up by 26.8% month-over-month. Of the 161 sold homes, 32% were sold under asking, 23% were sold at asking, and 45% were sold over asking.
Days on Market for Cary, NC
How long does it take to sell a home in Cary, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 77 Days | 50 Days | -34.8% |
Summary: Homes in Cary had an average of 50 days on market in Mar 2024, down by 34.8% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
103 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Cary has remained consistent over time.
Summary: During March 2024, 161 homes were sold in Cary; 26% of homes were sold within 30 days, 64% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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