Raleigh, NC 27609 Real Estate Market Report

ZIP Code: 27609
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

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.

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Key Findings

1. The primary indicator of market value and recent transaction activity is the $495,000 median sold price, which represents the most reliable snapshot of what buyers are paying in the ZIP and should drive underwriting and comparable selection; use sold-price comps rather than asking prices for valuation decisions.

2. There is a sizable spread between the $1,375,000 median listing price and the $495,000 median sold price, which may indicate meaningful seller pricing expectations above recent transaction levels and could create pricing friction that agents should manage through staged price adjustments or stronger buyer negotiation guidance.

3. The 426 median days on market points to slower sales velocity relative to typical fast-turn markets and suggests longer marketing windows and potential need for targeted incentives or refreshed positioning to reaccelerate offers; slower transaction pace appears present despite positive underlying fundamentals.

4. Rental and macro context show mixed signals: the $1,575 median market rent is stable while rent year-over-year trend is flat and price year-over-year trend is up; with market temperature neutral and interest rate pressure moderate, investors should expect balanced allocation decisions and focus on properties with clear income or appreciation catalysts.

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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 27609 Real Estate Market Report

ZIP Code: 27609
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

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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.

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Key Findings

1. The neighborhood's primary market indicator, the 179,000 median sold price, represents the most reliable recent transaction signal and suggests realized values near this level relative to asking prices; up price momentum further supports modest appreciation.

2. The 172,450 median listing price sits below the median sold price, which may indicate sellers are listing competitively relative to recent transactions and could reduce negotiation friction between offer and sale prices.

3. The 428 median days on market points to slower sales velocity and sustained time-to-contract, which may reflect cautious buyer pacing or selective demand despite positive price trends; this slower liquidity appears alongside a neutral market temperature.

4. Market fundamentals show up price year-over-year trend and a flat rent year-over-year trend, while interest rate pressure is moderate; median price per square foot at 161 and median market rent at 1,475 should be used for localized valuation and rent-comparison context rather than for yield calculations.

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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.