Cary, IL

Cary, Illinois is a city located in Cook County, Illinois. As of the 2010 census, the city had a population of 58,898. Cary was founded in 1853 and is named after James K. Cary, an early settler in the area. The city is home to several major businesses including Abbott Laboratories and Caterpillar Incorporated. Cary is also home to many residential neighborhoods including Oakwood Hills, Willowbrook Estates, and Woodcrest Estates.

Real estate in Cary has seen steady growth over the past few years as more people move into the city and invest in property. The median sale price for homes in Cary was $269,000 as of May 2016 according to data from Zillow. This represents an increase of over 10% from 2015 when the median sale price was $248,000. In addition to strong demand for homes in Cary, there has been increased interest in purchasing commercial property as well. The median sale price for commercial properties was $1 million as of May 2016 according to data from Zillow. This represents an increase of over 20% from 2015 when the median sale price was $850,000.

One reason why real estate prices have been increasing so rapidly in Cary is that there are many available properties for purchase or lease. As of May 2016 there were 524 active listings on Zillow within a one-mile radius of downtown Cary which represented an availability rate of 97%. This high availability rate means that there are many potential buyers or renters who are interested in purchasing or leasing a property within this radius area. In addition to having many available properties, Cary also has a low vacancy rate which indicates that there are not many vacant properties available for purchase or lease within the city limits.

Despite these positive factors affecting real estate prices and availability rates in Cary, some challenges do exist that could potentially impact future sales or rental activity within the city limits. One challenge that could affect future sales activity is if more people decide to move out of town instead of buying or renting a property within town boundaries due to higher costs associated with living here such as housing prices and taxes.. Another potential challenge that could affect future sales activity is if more people decide not to buy or rent a property because they do not think it will be worth their while given current market conditions.. However despite these challenges it appears that real estate prices and availability rates will continue to increase over time due to strong demand from both buyers and renters alike