Raleigh, NC 27604 Real Estate Market Report

ZIP Code: 27604
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

In Raleigh, NC (ZIP: 27604), the median sold price stands at $345,000, reflecting a stable market despite recent fluctuations. The neighborhood has decreased 8% since 2022, indicating a slight cooling in home values. This trend suggests that while central areas may still see appreciation, overall market dynamics are shifting towards a more balanced pace, with buyers becoming more selective in their purchases.

Current market conditions reveal elevated inventory levels, with a notable 168 days on market for sold properties, indicating slower sales velocity. The median listing price of $337,450 suggests that sellers may need to adjust expectations to align with buyer sentiment. Elevated interest rates continue to exert pressure on affordability, yet strong local economic fundamentals support underlying demand, creating a complex landscape for potential buyers and investors.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Raleigh NC average around 5.875% to 6.375%, which is slightly lower than the 6.75% average rate seen for 2026 originations.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $345,000 indicates a slight market adjustment, with home values showing signs of decreasing since 2022.

2. With 168 days on market, the sales velocity appears to be slower, suggesting a more selective buyer environment.

3. The median listing price of $337,450 reflects potential pricing friction as sellers adjust to market realities.

4. Elevated interest rates are contributing to pressure on affordability, impacting buyer purchasing power.

5. The median market rent of $1,733 indicates a stable rental environment, although rental trends are also down year-over-year.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.