Raleigh, NC 27617 Real Estate Market Report

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

---

Executive Overview

The median sold price in Raleigh, NC (ZIP: 27617) is currently $399,000, reflecting a strong market despite a backdrop of elevated inventory levels. The neighborhood has increased up since 2023, indicating a resilient demand for housing. With the median listing price at $337,500, there is a notable gap between asking and sold prices, suggesting potential pricing friction as sellers adjust to market realities.

Transaction activity appears moderate, with 2,240 days on market indicating slower sales velocity. This extended time frame may suggest buyers are taking a more cautious approach, potentially due to the moderate interest rate pressure affecting financing options. Overall, the market temperature is currently neutral, indicating a balance between buyer and seller expectations, though the return of buyer negotiating power may further influence pricing dynamics in the coming months.

---

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

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.

---

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 averaging 6.64% compared to approximately 6.10% in early 2026, indicating property owners who secured loans then locked in a more favorable rate.

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 $399,000 indicates strong market activity despite elevated inventory levels.

2. With a median listing price of $337,500, there is a significant gap suggesting potential pricing friction in the market.

3. The median days on market of 2,240 suggests slower sales velocity, indicating a more cautious buyer approach.

4. The market temperature is currently neutral, reflecting a balance between buyer and seller expectations.

5. The median market rent is $2,640, which may indicate a softening rental market, impacting overall housing demand.

---

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.