Raleigh, NC 27606 Real Estate Market Report

ZIP Code: 27606
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.

---

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.

---

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.

---

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.

---

Property Taxes

---

Liquidity & Velocity

---

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 27606 are 6.4% compared to the 6.0% average observed earlier in 2026, indicating property owners in this market currently hold more favorable financing terms than those available today.

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

---

Key Findings

1. $459,900 is the representative median sold price, which establishes recent transaction-level market value and suggests a modest upward price trend when combined with the up price year-over-year trend.

2. $429,500 median listing price versus the median sold price indicates a pricing gap that may indicate seller optimism relative to transaction prices; this gap, together with a neutral market temperature, suggests active negotiation and common concessions.

3. 305 median days on market signals slower sales velocity and pricing friction for listings; coupled with the neutral market temperature and moderate interest rate pressure, this appears to support buyer leverage in contract terms despite sold prices holding around the median sold price.

4. $238 median price per square foot and $1,425 median market rent provide context for value and income comparison in the SFR and condo market; with rent year-over-year trend flat and property owners generally holding more favorable financing terms historically (current 30-year rates of 6.4% versus earlier 6.0%), investors should weigh financing cost sensitivity while referencing the median sold price as the primary valuation anchor.

---

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 27606 Real Estate Market Report

ZIP Code: 27606
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.

---

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.

---

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.

---

Rental Market

---

Property Taxes

---

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.

---

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 27606 are 6.4% compared to the 6.0% average observed earlier in 2026, indicating property owners in this market currently hold more favorable financing terms than those available today.

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

---

Key Findings

1. The neighborhood's primary market indicator, median sold price, is 192,000, which reflects recent transaction levels and aligns with a up price year-over-year trend, suggesting modest upward pressure on realized values.

2. There is a noticeable gap between the median listing price of 214,900 and the median sold price of 192,000, which may indicate pricing friction where seller expectations exceed recent transaction prices and could lead to increased concessions or negotiated adjustments.

3. Slow market velocity is evident: the median days on market is 421, which points to prolonged listing periods and slower sales velocity that may give buyers more time to negotiate despite the upward price trend.

4. Market context shows a neutral market temperature with moderate interest rate pressure and reported mortgage rates of 6.4% versus a 6.0% earlier average, implying financing conditions are a moderate headwind for some buyers while rent trends remain flat and do not currently add upward pressure to investor demand.

---

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.