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Cary Real Estate Market Update: February 2010

David Williams — Wed, 03 Mar 2010 02:59:32 +0000

February Home Sales and Listings Report for Cary, North Carolina

Cary Real Estate Market Update - February 2010

Category	# of Homes	Avg Price	Avg Days on Market	Avg Price Per Sqft	Avg Size
Homes For Sale - End of Feb	801	$441,331	116	$139.09	3,061
New Listings	227	$415,271	13	$134.58	2,953
Homes Under Contract	107	$377,348	87	$128.05	2,758
Homes that Closed	70	$332,421	104	$123.78	2,650

Market Data reflects Single Family Detached Homes with a Cary address – not condos and townhomes – CaryRealEstate.com pulls data from the Triangle MLS

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

Cary’s Top Selling Neighborhoods – January 2010

David Williams — Thu, 04 Feb 2010 22:24:54 +0000

The Cary Real Estate Market had almost 100 homes go under contract in January – Which neighborhoods sold the most homes?

1. Greystone: 7 Homes Under Contract in January

1. StoneWater: 7 Homes Under Contract in January

3. Harmony: 5 Homes Under Contract in January

What do these neighborhoods have in common? All in West Cary – Priced between $200,000 and $600,000 – All New Construction! That’s right 18 of the 19 home sales in these 3 neighborhoods were new construction! So while the number of homes being built and sold are down from 2006 record numbers, new construction is still alive in Cary North Carolina! Almost 1 out of every 2 homes that went under contract in January was New Construction!!!

More About the 3 Neighborhoods:

Greystone is built by M/I Homes. Price Range: 300k – 500k. Average Price: 360k.

Search Greystone Homes For Sale

StoneWater is built by Lennar. Price Range: 200k – 450k. Average Price: 315k

Search Stonewater Homes For Sale

Harmony is built by Pulte. Price Range: 300k-550k. Average Price 375k

Search Harmony Homes For Sale

Click here to view the embedded video.

Cary Real Estate Market Report – January 2010

David Williams — Wed, 03 Feb 2010 23:18:43 +0000

The Cary Real Estate Market in January showed definite signs of improvement from a stabilization standpoint. Compared to this time last year, the number of homes for sale are down while the number of home sales and closings are up. The average sales price is down roughly $20,000.

Total # Cary Homes For Sale as of January 31, 2010: 739

Cary Homes For Sale at the end of January past 5 years

Number of New Listings – Cary Homes For Sale – January 2010: 244

New Listings in January of Cary Homes For Sale Previous 5 Years

Cary Homes For Sale that went Under Contract – January 2010: 94

Number of Homes Under Contract in January Past 5 Years

Closed Cary Home Sales Report – January 2010: 71 Homes Closed

Cary January Closings Data Compared to Previous 5 years

Curious what we mean by Cary Home Sales and where our data comes from?

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

Cary Home Sales & Garages – Where’s Everybody Parking?

David Williams — Thu, 14 Jan 2010 19:00:15 +0000

CaryRealEstate.com looks at Cary’s 2009 home sales numbers & Garage Size

Total Cary Homes Sold 2009 - 1,384

The numbers tell us the average home in Cary has a 2 Car Garage - driving around the Town would confirm that as well. As you can see homes with a 4 car garage are rare but they do exist - Search Cary Homes For Sale with 4 Car Garages

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

CaryRealEstate.com defines ‘Cary Home Sales’

David Williams — Thu, 14 Jan 2010 17:46:38 +0000

When CaryRealEstate.com says ___________ about home sales in Cary what does that represent? where does the info come from?

This post is intended to be a reference anytime we use the term Cary Home Sales or Homes in Cary.

You would think this is fairly straight forward but there are lots of variables – you can always contact CaryRealEstate.com with any questions regarding our data!

“Cary” : This represents any home with Cary listed as the town in the Realtor MLS system. It includes homes with a ‘Cary’ mailing address that are not located in Cary’s town limits (yes that’s possible). It’s also possible for a home to be in the Cary town limits but have a mailing address other than Cary – (due to which post office delivers the mail). If the information is entered into the MLS system probably it should pick these homes up.

“Home” : We are referring to a single family detached home – which is a normal home – this DOES NOT include condos or town-homes – we track those numbers separately.

Source: Unless otherwise noted we pull our numbers from the Realtor’s Triangle Multiple Listing Service – we have access to a tremendous amount of information – which we download into an excel spreadsheet to extrapolate the info we are looking for – yes we are putting in the time to know the Cary Real Estate Market! The articles we write are not boiler plate nor computer generated.

Note: There is a section of our site that does provide computer generated reports – you can sign up to receive these FREE Cary Real Estate Market Reports.

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

Ask Cary Real Estate: Does Anyone Buy or Sell their Home in December?

David Williams — Mon, 21 Dec 2009 22:29:18 +0000

I’m often asked, “what happens to Cary real estate activity in December?”

Does anyone really buy or sell a home during December? There are certainly advantages to moving during the holidays – most people have extra time off & the timing can work for school changes. Most of the time people assume that real estate comes to a complete stop during the holidays – not true for us here at CaryRealEstate.com, we have several home sellers getting ready to place their home on the market and we have a family moving back to the Cary area that will be in town Sunday, December 27th to buy!

The short answer: YES – people are still buying and selling homes in Cary during the month of December – here are the numbers for cary real estate activity for December, as of Dec 21st.

**Total Homes* For Sale in Cary: 752**

Homes in Cary that Have Closed this Month: 67

Homes in Cary that have gone under contract in December: 60

Homes in Cary Listed For Sale in December: 86

As you can see, real estate does not stop for the holidays!

* ‘Homes’ in the above numbers refers to single family detached homes – it does not include condos and townhomes.

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

National Real Estate Sales Increase & Cary, NC Local Market Improves

David Williams — Wed, 18 Nov 2009 05:09:57 +0000

Looking for a little good news in the world of real estate? Last week at the Realtor Convention in San Diego, Lawrence Yun (NAR’s Chief Economist), yea can’t help the name drop – it was cool to hear his address in person! – anyway – he reported the number of homes selling (or going to pending status) continue to increase – in fact, the nation has seen 8 straight months of increased sales!

Here in the Cary NC area, the local MLS association reported today the number of homes going under contract/pending status for October up 28% over October 2008 numbers! The number of closed homes increased almost 18% over the same period last year.

National Pending Home Sales Copyright National Association of REALTORS®. Reprinted with permission.

Cary and Entire Triangle Area MLS Reports Increase in Pending Home Sales

Cary Real Estate Market Update for Days on Market

David Williams — Wed, 16 Sep 2009 20:36:26 +0000

The median number of days on the market for single family homes in Cary peaked at just over 150 this past spring. At this point it appears to be stabilizing. Please note the graph represents all price ranges – days on market can vary drastically at different price points.

Want to Receive FREE Cary Real Estate Market Updates?

Residential Single Family Homes

Cary Real Estate Market Update for Number of Homes For Sale

David Williams — Wed, 16 Sep 2009 18:07:04 +0000

It appears the inventory peaked over the summer as usual and has started the seasonal decline has we move into the fall and winter months.

Want to Receive FREE Cary Real Estate Market Updates?

Ski Lifts, Elevators & Cary Real Estate

David Williams — Tue, 10 Mar 2009 04:19:13 +0000

Ski lifts, Elevators & Real Estate – As I enjoyed the slopes yesterday I made an interesting observation – I’ve always found people much more talkative while riding a ski lift than an elevator, ever noticed that? Why is that? Both are transporting you from one spot to another – Is it the outdoor air on the lift? Is it the fact that you are all bundled up and have a sense of anonymity?

What does this have to do with real estate? Let’s play this out – while chatting it up on the ski lift one of the first questions is going to be “What do you do?” Once someone hears ‘real estate’ then the follow-up question is a variation of “How’s the real estate market?”

So – How is the real estate market???

The real estate instructor/trainer side of me wants to break out a dry erase board, but I will spare you the classroom version. The fact is, it’s not an easy question to answer – here’s why – if the person is asking about the overall real estate market across the country that’s one thing, but in reality when people ask the question, what they really want to know is how the real estate market is doing in their area! More specifically they want to know their homes market value. How is their real estate investment performing.

It’s ironic that most people get real estate market news from national news media outlets when, for the average person, what they are interested in is their local market. I’ve always found getting your real estate market reports from the national media is comparable to a national weather forecast – you are not going to here “Today in the U.S. it’s going to be 68 and sunny – just like the weather, real estate market conditions are local and can vary drastically!

One of the best looks at local market conditions is to determine if it’s a buyers market or a sellers market – this is a process that examines how many homes are for sale compared to available buyers. Yes, basic supply and demand – Want to Know more about how ‘experts’ determine if it’s a buyer or seller market? Want to see how you can better understand your local market? Then Check out this post: Buyer or Seller Market – How Do You Know & What does it mean to me?