Raleigh, NC 27615 Real Estate Market Report

ZIP Code: 27615
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 Raleigh, NC market is experiencing a shift toward stability, with the median sold price recorded at $511,400. This figure reflects a cooling trend in the market, as evidenced by the overall downward pressure on home prices. The neighborhood has decreased 8% since 2022, indicating a significant adjustment in buyer expectations and market dynamics.

Transaction activity appears moderate, with elevated inventory levels contributing to a slower sales velocity, as the median days on market stands at 154 days. This suggests that while buyers may have gained some leverage, well-priced homes continue to attract competition, maintaining a level of market engagement despite the broader cooling trend.

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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 the Raleigh, NC market around 5.875% are slightly lower than recent 2026 averages near 6.04%, presenting a minor cost opportunity for 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 $511,400 indicates a cooling market with downward pressure on prices.

2. With a median days on market of 154, the market is experiencing slower sales velocity, suggesting buyers are taking more time to make decisions.

3. The median listing price of $650,000 reflects a notable gap compared to the sold price, indicating potential pricing friction in the market.

4. Overall, the market temperature is neutral, suggesting a balanced environment where neither buyers nor sellers have a distinct advantage.

5. The median market rent of $2,530 is down, aligning with the overall trend of decreasing rental prices in the area.

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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.