Raleigh, NC 27608 Real Estate Market Report

ZIP Code: 27608
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the real estate market in Raleigh, NC (ZIP: 27608) is characterized by a median sold price of $995,000, reflecting a market that has decreased 8% since 2022. This decline in sold prices suggests a softening market, influenced by elevated inventory levels and a neutral market temperature. The median listing price stands at $1,125,000, indicating a significant gap between seller expectations and actual sale prices, which may contribute to slower transaction activity and pricing friction.

The median days on market is notably high at 268 days, suggesting a slower sales velocity and potential challenges in liquidity. Elevated inventory levels relative to sales activity indicate a market that is adjusting to increased supply, which may further pressure prices. Despite these trends, the underlying demand remains supported by a positive local economy and ongoing population growth, particularly in desirable areas such as Downtown Raleigh, where competitive dynamics may still prevail.

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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

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, around 6.04% are slightly lower than the national average of 6.17% reported in mid-February 2026, suggesting a minor cost advantage for recent property owners.

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 $995,000 indicates a market that has experienced a down trend, decreasing 8% since 2022.

2. With a median listing price of $1,125,000, there is a notable gap between asking prices and sold prices, suggesting potential pricing friction.

3. The median days on market at 268 days reflects a slower sales velocity, indicating challenges in liquidity for sellers.

4. Elevated inventory levels suggest excess supply relative to sales activity, contributing to a more balanced market environment.

5. The market temperature is neutral, indicating a balanced market with neither strong buyer nor seller advantages.

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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.