Housing Market

The real estate market in Cary, North Carolina continues its impressive growth trajectory. Cary's reputation as one of the best places to live has only strengthened, attracting more potential homebuyers to this thriving community. This sustained popularity has led to an even greater demand for houses in the area.
Why Cary's Housing Market is Growing
Several key factors are driving the growth of Cary's housing market:
- Population Expansion: Cary's population has been steadily increasing, with projections showing continued growth through 2025. This influx of new residents naturally fuels the demand for housing.
- Interest Rate Fluctuations: While interest rates have seen some changes, they remain relatively favorable for homebuyers, making mortgages more accessible for many.
- Quality of Life: Cary continues to be recognized for its high quality of life, excellent schools, and abundant amenities, making it an attractive destination for families and professionals alike.
Let's look at how home prices have evolved:
In 2019, the average prices in Cary were:
- Single-family home: $433,389
- Condo: $244,971
- Overall average home price: $372,500
By 2024, these prices had increased to:
- Single-family home: $597,848
- Condo: $315,234
- Overall average home price: $397,500
Expected Growth in 2025
Experts predict that Cary's housing market will maintain its upward momentum in 2025. Here are the latest forecasts:
- Single-family home average price: $620,740
- Condo average price: $318,495
- Overall average home price: $417,375
Price per square foot is also expected to climb:
- Single-family homes: $282 per square foot
- Condos: $219 per square foot
The main factors supporting this continued growth are:
- Sustained population growth in Cary
- Cary's enduring reputation as a top-tier place to live
- Ongoing economic development in the region
What This Means for Buyers and Sellers
For Buyers
The Cary housing market is likely to remain competitive, with prices continuing to rise. Buyers should consider:
- Acting quickly when they find a property they like
- Being prepared for potential bidding wars
- Exploring newly developed areas or upcoming neighborhoods
- Working with a seasoned real estate agent familiar with Cary's market
For Sellers
It's still a favorable time to sell in Cary, given the projected increase in home prices. Sellers should:
- Ensure their home is in excellent condition before listing
- Price their property strategically to attract serious buyers
- Collaborate with an experienced agent to maximize their home's exposure and value
The outlook for Cary's housing market remains robust for 2025, solidifying its position as a prime location for real estate investments.
Advice from a Local Real Estate Expert
As Tim Clarke, founder of the Tim M. Clarke Team and a real estate agent with over 15 years of experience in the Triangle area of North Carolina, I've got some valuable insights for navigating Cary's evolving housing market in 2025.
For Buyers
- Get Pre-approved: In this competitive market, having a mortgage pre-approval is more crucial than ever. It shows sellers you're serious and financially prepared.
- Be Flexible: With the market moving quickly, be open to considering properties that might need some updates or are in up-and-coming neighborhoods.
- Work with a Local Expert: Choose an agent who specializes in Cary and its surrounding areas. Their in-depth knowledge can be the key to finding hidden gems or off-market properties.
For Sellers
- Price It Right: Accurate pricing remains crucial. We use the latest market data and predictive analytics to determine the optimal listing price for your home.
- Enhance Curb Appeal: First impressions matter more than ever. Invest in your home's exterior to make it stand out in online listings and drive-bys.
- Leverage Technology: Virtual tours and 3D walkthroughs have become standard. We use cutting-edge tech to showcase your home to the widest possible audience.
With my team's extensive experience in the Triangle area, we're well-equipped to help you navigate Cary's dynamic real estate market in 2025. Whether you're buying or selling, we're here to turn your real estate aspirations into reality.
As Cary's real estate market continues to evolve in 2025, staying informed and working with experienced professionals will be key to successfully navigating the buying or selling process. Whether you're looking to purchase your dream home or sell your property for top dollar, the Tim M. Clarke Team is here to guide you every step of the way. Our deep understanding of Cary's market dynamics and our commitment to personalized service ensure that you'll have the support you need to make informed decisions in this exciting real estate landscape.