Raleigh, NC 27616 Real Estate Market Report

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

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

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.

Property Taxes

Liquidity & Velocity

Market Trends & Context

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

Key Findings

1. The primary indicator, the median sold price of $392,000, establishes recent transaction value and suggests modest price appreciation consistent with the reported up price year-over-year trend.
2. Despite a lower median listing price of $377,500, the gap between asking and realized sale values appears to reflect pricing friction and seller adjustments rather than broad discounts; this dynamic may indicate careful underwriting is needed when modeling expected sale proceeds.
3. A prolonged median days on market of 240 points to slower sales velocity and suggests moderate liquidity; sellers should expect longer holding timelines and buyers may have additional negotiation leverage during inspections and contingencies.
4. Macro headwinds — including elevated interest rate pressure and 30-year fixed mortgage rates averaging approximately 6.6% — combined with down rent year-over-year trend may temper investor appetite, even as the market temperature remains neutral, producing a balanced but cautious environment for acquisitions.

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.