Cary Ranks Among Top Five Real Estate Markets

Cary, NC – Recent studies have shown Cary is a top location for new home buyers and movers. To cap it off, a new study from WalletHub has Cary as the fourth-best real estate market nationwide, and second best for a town of its size.

Nationally Recognized

In the study from WalletHub, Cary ranks as the fourth-best real estate market. This ranking combines both the ranking for its market – including home value forecast, median home price appreciation, the foreclosure rate and more – and the affordability and “economic environment” of the town itself.

Health of Cary’s Real-Estate Market (1=Best; 150=Avg.):

  • 57th – % of Homes with Negative Equity
  • 66th – Avg. Days Until Sale
  • 121st – Median Home-Price Appreciation
  • 5th – Job Growth Rate
  • 80th – Foreclosure Rate
  • 31st – % of Delinquent Mortgage Holders
  • 25th – Number of Unsold Homes Owned by Banks (REOs)
  • 58th – Home Price as % of Income
  • 8th – Population Growth Rate

Data courtesy of WalletHub

Cary ranked behind Frisco, McKinney and Allen, all located in Texas. But when only looking at mid-sized American towns, between 150,000 to 300,000 people, Cary ranked second, only behind McKinney (Raleigh and Charlotte ranked ninth and tenth respectively for large cities).

While Cary’s real estate market alone ranked as 14th best in the nation, Cary’s score as fifth for affordability and economic environment bolstered its position up to fourth best. According to WalletHub’s research, Cary ranked fifth for its job rate growth, eighth for its population growth rate and 66th for the average time it takes to sell a house.

Other Factors

Another data point in the WalletHub study was about maintenance costs as it relates to income. Cary had the fourth lowest maintenance costs as a percentage of income in the country, behind both Frisco and Allen as well as Naperville, Illinois which was number one.

This study ties in with other recent studies about Cary. The town continues to rank as one of the safest towns not just in North Carolina but in the entire country, as well as one of the safest places to raise children.

These studies, as well as Cary’s other accolades such as being the second most successful town in the country, helps explain WalletHub finding that Cary is eighth nationwide in population growth as more people move here.

Story by staff reports. Photos by Hal Goodtree and Jason Pratt. Community coverage sponsored in part by the Morrisville Chamber of Commerce.