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

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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 shift towards stability amid a backdrop of elevated inventory levels. The market has seen a down trend in prices, which may indicate a recalibration of seller expectations in response to changing market dynamics. The median listing price stands at $374,499.50, suggesting a notable gap between asking prices and recent sales, which could create pricing friction for sellers.

Transaction activity appears moderate, with a median days on market of 155, indicating slower sales velocity. This extended time frame may suggest that buyers are exercising more caution, potentially due to elevated interest rate pressure, which remains a significant factor influencing buyer sentiment. Overall, the market temperature is classified as neutral, indicating a balanced environment where buyers and sellers may find common ground, albeit with some challenges in achieving favorable sale conditions.

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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 the Raleigh, NC area around 6.09% are notably lower than the 6.87% average seen one year ago, presenting a cost opportunity for recent borrowers.

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 $345,000 reflects a significant pricing gap compared to the median listing price of $374,499.50, indicating potential pricing friction for sellers.

2. With a median days on market of 155, the market is experiencing slower sales velocity, which may suggest a more cautious buyer approach.

3. The market temperature is currently neutral, indicating a balanced environment where both buyers and sellers have opportunities, though challenges remain.

4. Elevated inventory levels suggest excess supply relative to sales activity, which may put downward pressure on prices moving forward.

5. The median market rent is $1,733, which remains a critical factor for investors and potential buyers considering rental yields.

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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.