Cary Real Estate Reports: Are Cary Home Sellers Making or Losing Money?

Cary Home Sales for September 2011

77 Home Owners Sold/Closed on their home in Cary during September

First…the good news:

  • More Homes Sold September 2011 than September 2010 (77 vs 71)
  • Less Homes Listed For Sale this Sept vs. last (126 vs 167)
  • More Sellers Accepted an Offer this Sept vs last (75 vs 68)

In my experience that’s where many stop in presenting what’s happening in the real estate market, but here at CaryRealEstate.com we strive to present you complete information – information you probably aren’t going to get anywhere else….Information like Are Cary Home Sellers Making or Losing Money When They Sell?

  • 31 of the 77  homes sold for LESS than what the owners paid for it (40%)

Let that sink in…. 4 out of 10 Cary home owners that sold their home in September did so for LESS than what they paid for it – real money lost.  While it may sound great to say more homes are selling and the market is showing slow signs of improvement its improvement in the area of homes selling – not what they are selling for.

  • Another 11 sold for 4% or less above what the owners paid
  • 64 of the 77 Sold for less than tax value

Tipping Point….How Long the Sellers owned the home – all but 1 of the sellers that sold for less than what they paid purchased the home in 2005 or later., those owning the home for longer periods of time benefited from appreciation.  The spreadsheet below is the breakdown of all 77 homes sold in September by subdivision – it shows what the owner paid – how long they owned the home and what they sold it for, net gain or loss.

Bottom line – the GOOD news  with the local Cary Real Estate market is homes are selling!  (Unlike many other parts of the country)  however in order to get the home sold sellers have to position/price the home correctly.   Call us today at 919-386-9101 for assistance in determining a realistic sales price for your home!

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* data covers single family detached homes located in Cary – does not include new construction or condos/town homes – both the Triangle MLS and the Wake County Tax records used for data compilation.

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