Raleigh, NC 27616 Real Estate Market Report

ZIP Code: 27616
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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Raleigh, NC, are approximately 6.4% compared to the sub-5.9% market lows observed in early 2026.

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 primary indicator of current market value is the median sold price of 320,000, which represents the most reliable reflection of recent transaction activity and suggests modest appreciation in line with a stabilizing market; neutral market temperature supports a balanced interpretation of recent sales.

2. The market shows slower sales velocity with a median days on market of 261, which may indicate longer negotiation timelines and pricing friction between seller expectations and buyer willingness to transact.

3. Seller asking behavior remains above recent transaction levels: the median listing price is 367,000, which is higher than the median sold price and may signal that some sellers are testing the market while buyers exercise greater selectivity; this spread appears alongside elevated inventory relative to sales activity and moderate transaction volume.

4. Interest rate pressure is elevated, with property financing conditions noted (Current 30-year fixed mortgage rates in Raleigh are approximately 6.4% compared to sub-5.9% market lows earlier in 2026), which may constrain some buyer budgets and contribute to slower velocity and extended time on market; elevated interest rate pressure is a material near-term headwind.

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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 27616 Real Estate Market Report

ZIP Code: 27616
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

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 Raleigh, NC, are approximately 6.4% compared to the sub-5.9% market lows observed in early 2026.

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. $249,500 median sold price anchors current market value and indicates recent transaction activity is concentrated around this level, suggesting pricing stability for comparable SFR and condo product when viewed alongside the flat year-over-year price trend.

2. 364 median days on market points to slower sales velocity and suggests moderate transaction volume—sellers should expect longer marketing periods and potential negotiation on terms rather than relying on rapid turnover.

3. $157 median price per square foot combined with the reported median sold price suggests current comps are trading at a measured rate per area; investors and appraisers should use this as the primary per-unit benchmark for valuation conversations rather than asking prices.

4. Rising financing pressure is a material caution: elevated interest rate pressure (current 30-year fixed mortgage rates ~6.4% versus sub-5.9% market lows earlier in 2026) may constrain buyer affordability and could prolong the period of pricing stability despite a neutral market temperature and flat rent trend; sellers should consider flexible terms or incentives to maintain competitiveness.

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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.