June 2021 Cary, NC Housing Market Update

Hey, Cary, North Carolina! Are you ready to see what’s going on in our crazy real estate market?

What an exciting, and I’m gonna say it, unprecedented time it is in our real estate market. And honestly, I hate to use that word after everything we’ve gone through in the past year, but it’s about the only word that somewhat accurately describes today’s real estate market. It is hot, hot, hot. And of all my years in real estate, I’ve never experienced what we’re seeing at this degree ever.

Homes are flying off the shelf, bidding wars and multiple offers are giving sellers more and more leverage than ever before. Buyers are doing things that we would never advise in a normal real estate market, like removing all their contingencies, upping their deposits to insane amounts, giving crazy rent-backs to the sellers, not asking for any repairs, even making offers without even touring the home. They’re buying homes site unseen. They’re doing whatever it takes.

So let’s look at what’s happening.

The average time on market for a home and carry is only seven days and that’s considerably quicker than the national average of 21 days to sell a home.

The average list price for a home and carry is just over $475,000, but the actual sold price on average is $496,500.

That’s a difference of $21,000.

So, as you can see here in Cary, the market is on fire and buyers are in dire need of properties. If you’re looking to get the most return on your investment and more money in your pocket with less hassle, there’s never been a better time to sell your home.

If you’re interested in selling your home and you’d like a detailed analysis of what you could sell for and what it’ll take to get top dollar, reach out at any time. I’m Justin Hemker with The Namas Team at eXp Realty. We’re here to serve because, “We want you to love where you live.“