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

The Raleigh, NC market, as of February 2026, is characterized by a median sold price of $508,000, reflecting a cooling trend with prices appearing to have stabilized. The neighborhood has decreased 8% since 2022, indicating a shift in market dynamics. This decrease in sold prices suggests that buyers are becoming more price-sensitive, potentially due to economic factors influencing purchasing power and market expectations.

Transaction activity is currently experiencing slower sales velocity, with median days on market reported at 153 days. This extended time frame may indicate elevated inventory levels, as the market is facing excess supply relative to sales activity. While the broader market remains balanced, certain sub-markets may still exhibit seller advantages, suggesting pockets of strength amidst an overall cooling trend. The median listing price stands at $645,000, which creates a notable pricing gap compared to the median sold price, indicating potential pricing friction as sellers adjust expectations to align with market realities.

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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 average around 6.00% to 6.03%, which is notably lower than the 6.85% average seen one year ago, suggesting a cost opportunity for recent refinancers.

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 $508,000 reflects a cooling trend, having decreased 8% since 2022.

2. Slower sales velocity is evident with median days on market at 153 days, suggesting elevated inventory levels.

3. The median listing price of $645,000 indicates a significant gap compared to the sold price, highlighting potential pricing friction.

4. Market temperature is currently neutral, suggesting balanced conditions despite the cooling trend.

5. Elevated interest rate pressure may be impacting buyer sentiment, contributing to the slower transaction volume.

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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.