Raleigh, NC 27617 Real Estate Market Report

ZIP Code: 27617
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Raleigh, NC market is currently characterized by a median sold price of $419,450, reflecting a slight decline in home values over the past year. This trend indicates a down trajectory in pricing, which may suggest a cooling market environment. Despite this, the median listing price stands at $439,900, creating a notable gap that could reflect seller expectations versus current market realities.

Transaction activity appears to be moderated, with median days on market reaching 256 days, indicating slower sales velocity and potentially elevated inventory levels. While the local economy remains robust, supporting a resilient rental market with a median market rent of $2,640, elevated interest rates continue to temper buyer activity, contributing to a neutral market temperature. This combination of factors suggests a market that is adjusting to current economic pressures while maintaining some underlying strength in rental demand.

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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 market are averaging around 5.8% to 6.20% in February 2026, which is notably lower than the 6.64% average seen in early 2025, presenting a cost opportunity for recent refinancers.

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 $419,450 indicates a market that has experienced a down trend in home values over the past year.

2. With a median days on market of 256, the market is experiencing slower sales velocity, suggesting a need for sellers to adjust expectations.

3. The median listing price of $439,900 shows a significant gap compared to the sold price, indicating potential pricing friction in the market.

4. Elevated interest rates are contributing to elevated interest rate pressure, which may be impacting buyer activity and overall market dynamics.

5. The median market rent of $2,640 reflects a up trend in rental prices, indicating strong demand in the rental market despite the home sales slowdown.

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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.