Raleigh, NC 27616 Real Estate Market Report

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

---

Executive Overview

As of February 2026, the real estate market in Raleigh, NC (ZIP: 27616) is characterized by a median sold price of $345,000, reflecting a cooling trend in the market. This indicates a shift from previous years, with the market experiencing a general decline in prices. The median listing price stands at $359,450, suggesting a significant gap between seller expectations and actual transaction values, which may indicate pricing friction in the current landscape.

The market is exhibiting 159 days on market, indicative of slower sales velocity and a more selective buyer environment. Elevated inventory levels are present, leading to excess supply relative to sales activity. Despite these conditions, the underlying economic strength from job and population growth continues to provide a foundational support for the market, yet the overall market temperature is currently assessed as neutral due to these dynamics.

---

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.

---

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.

---

Rental Market

---

Property Taxes

---

Liquidity & Velocity

---

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 27616 area average around 6.0% compared to 6.5% one year ago, presenting a favorable refinancing window for recent borrowers.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

---

Key Findings

1. The median sold price of $345,000 reflects a significant gap from the median listing price of $359,450, indicating potential pricing friction in the market.

2. With 159 days on market, the current sales velocity suggests a slower transaction pace, which may impact buyer urgency.

3. Elevated inventory levels indicate excess supply relative to sales activity, contributing to a more selective market environment.

4. The median market rent is $1,733, which remains a critical factor for potential investors assessing rental viability in the area.

5. Current interest rate pressure is assessed as elevated, which may further influence buyer behavior and overall market dynamics.

---

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.