Cary, NC 27513 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The primary indicator of market value is the median sold price, which registers at 597,000, and this figure should be treated as the representative recent sale level for valuation and comp work; representative recent sale is the operative signal for pricing decisions.
2. There is a meaningful spread between the median listing price (500,000) and the median sold price (597,000), which, together with a prolonged median days on market of 346, suggests pricing friction and slower sales velocity; slower sales velocity may require sellers to adjust expectations or offer concessions.
3. Broader trends show prices are down year-over-year while market temperature is neutral; with interest rate pressure characterized as elevated, elevated interest rate pressure may sustain buyer leverage and keep the market moving toward balance rather than rapid appreciation.
4. Median market rent is 1,618 and rent is trending down year-over-year, which may temper investor demand and reduce near-term upside from rental growth—factor this into buy-and-hold underwriting and pricing tolerance.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.