Raleigh, NC 27616 Real Estate Market Report

ZIP Code: 27616
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of March 2026, the Raleigh, NC (ZIP: 27616) real estate market shows a median sold price of $299,000, reflecting a stable market environment. This price indicates a flat trend in recent transactions, suggesting that the market has stabilized after previous fluctuations. The median days on market stands at 1,288 days, which points to a slower sales velocity and may indicate elevated inventory levels relative to sales activity, contributing to a more balanced market phase.

The current market dynamics are characterized by elevated interest rate pressure, with mortgage rates averaging around 6.64%, which may be impacting buyer affordability and keeping some potential buyers sidelined. Despite these challenges, the underlying economic fundamentals remain strong due to job and population growth, suggesting that while some areas may experience competitive conditions, the overall market activity indicates a 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

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Raleigh NC average around 6.64% compared to recent 2026 averages near 6.25%, indicating property owners locked in a favorable rate.

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 $299,000 reflects a flat trend in recent transactions, indicating market stabilization.

2. With a median days on market of 1,288 days, the market is experiencing slower sales velocity, suggesting elevated inventory levels relative to sales activity.

3. The median market rent is $1,733, which may indicate down trends in rental performance year-over-year.

4. Current interest rate pressure is described as elevated, potentially impacting buyer affordability and market activity.

5. The overall market temperature is neutral, suggesting a balanced market with no clear buyer or seller advantage.

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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.