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

---

Executive Overview

As of February 2026, the median sold price in Raleigh, NC (ZIP: 27617) stands at $419,900, reflecting a market that has seen a down trend in pricing year-over-year. This decline may indicate shifting buyer sentiment and affordability challenges, as the overall average home value is decreasing. The current market conditions suggest a more balanced environment, where buyers have increased negotiation power due to elevated inventory levels relative to sales activity.

The median days on market is notably high at 258 days, which points to slower sales velocity and a potential mismatch between seller expectations and buyer readiness. While there are specific neighborhoods that continue to show modest appreciation, the broader market appears to be stabilizing with a neutral market temperature. This context suggests that while there are opportunities for buyers, sellers may need to adjust their pricing strategies to align with current market realities.

---

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 Raleigh NC 27617 average around 5.875% to 6.07%, which is lower than the 6.17% average seen a month ago, indicating a slight cost opportunity for refinancing property owners.

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 $419,900 indicates a down trend in home values, reflecting potential buyer hesitance.

2. With a median days on market of 258, the market is experiencing slower sales velocity, suggesting elevated pricing friction.

3. The median listing price of $439,950 shows a significant gap from the median sold price, indicating potential pricing pressure for sellers.

4. The median market rent is $2,640, which may influence buyer decisions as rental affordability remains a concern in the area.

5. Current interest rates are averaging between 5.875% and 6.07%, which is slightly lower than previous months, presenting a slight opportunity for refinancing property owners.

---

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.