Raleigh, NC 27604 Real Estate Market Report

ZIP Code: 27604
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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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 are 6.3% compared to the 5.6% average seen in early 2026, indicating property owners in this market who locked in earlier rates are currently holding a more favorable position.

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 primary indicator of market value is the median sold price — 327,500, which represents the most reliable signal of recent transaction activity and suggests selling outcomes are running below asking benchmarks in some cases; downward price pressure appears present per broader trend data.

2. The gap between the median listing price — 350,000 and the median sold price suggests pricing friction where seller expectations exceed recent transaction levels, and this spread may indicate negotiation room for buyers given the market context.

3. The median days on market — 291 is substantially long and points to slower sales velocity and extended time-to-contract; this slower liquidity, combined with a neutral market temperature, suggests a balanced but cooling market where concessions may reappear.

4. The median price per square foot — 207 combined with elevated interest rate pressure (current 30-year fixed at 6.3% vs 5.6% earlier in 2026) may compress affordability for new buyers and prolong listing durations; investors and buyers should model financing at current rates under conservative assumptions.

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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.

Raleigh, NC 27604 Real Estate Market Report

ZIP Code: 27604
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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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 are 6.3% compared to the 5.6% average seen in early 2026, indicating property owners in this market who locked in earlier rates are currently holding a more favorable position.

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 primary market signal is the median sold price 224,210, which represents recent transaction-level value and suggests realized pricing is below asking benchmarks in the area; down price momentum is present per broader trend data.

2. Despite a higher median listing price 252,000, the gap between asking and realized prices appears meaningful and may indicate pricing friction or seller expectation mismatch that may moderate near-term seller leverage.

3. The market shows slower liquidity consistent with a median days on market 396, which suggests extended marketing times and neutral market temperature conditions rather than rapid turnover.

4. Interest rate dynamics are a headwind: interest rate pressure elevated is present, with current 30-year fixed mortgage rates at 6.3% versus a 5.6% early-2026 average, signaling elevated financing cost sensitivity for buyers and potential retention of owners with earlier, lower-rate financing.

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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.