Cary Homes Sold February Monthly Review

A news and notes review of all homes closed in Cary during February 2013.

Cary has seen its selling market slingshot itself into 2013 as it nearly doubled its January production 2012 to 2013 with 140 homes sold. February was much of the same with 141 homes closing. It is important to remember that notes on closed homes are different from those of sold homes because closed homes are normally the result of a contract from 30-60 days earlier. The term “sold” usually refers to the act of putting a home under contract.

DATA FOR FEBRUARY- HOMES THAT CLOSED IN CARY

Avg. Sq. Footage    Avg List Price     Avg. Sales Price     Avg. Price Per Sq. Ft.     Avg. DOM

       2487                  $296.82                    $289.81                    $114.00                 89*               *Two homes were on the market for over 600 days and raised the DOM by 7 Days.

The top three subdivisions in February were:

1. Amberly-11 homes sold,
2. Lochmere- 9 homes sold,
3. Carolina Preserve & Oaks at Highcroft- 6 homes sold.

I expected to see Amberly and Lochmere on the list as they are both large communities that offer a large variety of homes for buyers to choose from. Both also have wonderful amenities to offer the home owners. Nine of Amberly’s sales were new construction as well as the 6 Oaks at Highcroft homes. Carolina Preserve’s sales were all from 2010 on and Lochmere saw a mixture of both 1980’s and 1990’s homes sell.

More Fun Facts: The age of a home and the lot sizes that accompany those home usually go hand in hand in the Triangle and Cary is no different. Of the 141 homes closed on in February 23 were built in the 1980’s, 35 were built in the 1990’s, 34 were built 2000-09, and 36 were built 2010-13. Of those 80’s & 90’s homes 41% were on lots over .25 acres. Of those homes built from 2000 only 20% were built on lots over .25 acres.

In Review. If you want a home on a larger lot be prepared to look for a home built in the 80’s or 90’s.

Of the 141 homes that closed in February 37% of those homes had 1st floor master. Selfishly I follow this stat because I personally have a 1st floor master.

I will end this Monthly Review by saying as good as these numbers look for sellers they are only getting better. 176 homes went Contingent in February at a Avg DOM of 60 days but 100 of them lasted less than 30 days on the market.

If you are looking to buy or sell a home in Cary, contact us! It would be our pleasure to guide you through the buying and selling process and to show you how smooth of a process that it can be!

-BCP  benjamin@DTandCompany.com 919-608-4226