Cary, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Cary Neighborhoods Since 2000




Cary, NC Real Estate Data


Cary Housing Market Information

With 159,769 people, 53,975 houses or apartments, and a median cost of homes of $370,004, Cary house prices are not only among the most expensive in North Carolina, Cary real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Cary, accounting for 62.61% of the town's housing units. Other types of housing that are prevalent in Cary include large apartment complexes or high rise apartments ( 23.75%), row houses and other attached homes ( 9.96%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.75%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cary. Owner-occupied housing accounts for 68.54% of Cary's homes, and 57.38% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cary built from 1970 to 1999 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 between 2000 and later ( 35.68%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.77%).

Cary Home Appreciation Rates

In the last 10 years, Cary has experienced some of the highest home appreciation rates of any community in the nation. Cary real estate appreciated 29.06% over the last ten years, which is an average annual home appreciation rate of 2.58%, putting Cary in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cary definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 7.85%, which is higher than appreciation rates in 90.65% 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 2.16%, which equates to an annual appreciation rate of 8.91%.

Relative to North Carolina, our data show that Cary's latest annual appreciation rate is higher than 90% 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 2000, to assist you in making the best Cary real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$370,004

Cary, NC HOME PRICES

Value Range
> $1,223,000 1.0
$917,001 - $1,223,000 2.0
$612,001 - $917,000 8.9
$489,001 - $612,000 12.8
$367,001 - $489,000 22.2
$245,001 - $367,000 26.9
$122,001 - $245,000 22.4
$61,001 - $122,000 1.1
$0 - $61,000 2.9

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
11.2607600866663 3.99274047186933

Number Of Homes And Apartments:
53,975

Rent & Ownership

 

Average Market Rent:
$1,437 / per month

Homeownership Rate

Homeownership
Owners 68.54
Renters 31.46
Vacant 5.10

Housing Market Details

 

Age of Homes

AGE OF Cary HOMES
2000 or Newer 35.7
1970 - 1999 58.9
1940 - 1969 4.8
1939 or Older 0.6

Types of Homes

TYPE OF Cary HOMES
Single-Family 62.6
Townhomes 10.0
Small Apt. Buildings 2.7
Apt. Complexes 23.7
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Cary HOMES
No Bedroom 0.54
1 Bedroom 8.82
2 Bedrooms 21.60
3 Bedrooms 30.98
4 Bedrooms 26.40
5 or more bedrooms 11.66

Cary Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
56.06% 2.65% 9 7
* 10 is highest