Cary appreciation rates and housing market information

Cary housing market information

With a population of 94,530, 36,850 total housing units (homes and apartments), and a median house value of $313,627, Cary real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Cary, accounting for 65.96% of the town's housing units. Other types of housing that are prevalent in Cary include large apartment complexes or high rise apartments (20.21%), row houses and other attached homes (8.45%), duplexes, homes converted to apartments, or other small apartment buildings (3.82%), and a few mobile homes or trailers (1.55%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Cary. Owner-occupied housing accounts for 69.23% of Cary's homes, and 63.47% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cary built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Cary built from 1995 and later (32.77%). A lesser amount of the housing stock also hails from 1940-1969 (6.41%), and some were built from 1939 and earlier (6.41%).

Cary home appreciation rates

Appreciation rates for homes in Cary have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 81.29%, which ranks in the top 40% nationwide. This equates to an annual average Cary house appreciation rate of 8.12%.

Appreciation rates are so strong in Cary that despite a nationwide downturn in the housing market, Cary real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cary appreciation rates continue to be some of the highest in America, at 4.75%, which is higher than appreciation rates in 88% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cary. Cary appreciation rates in the latest quarter were at 0.19%, which equates to an annual appreciation rate of 0.76%.

Relative to North Carolina, our data show that Cary's latest annual appreciation rate is higher than 86% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Cary differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cary - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Cary real estate investment or home purchase decisions.