Raleigh, NC 27617 Real Estate Market Report
ZIP Code: 27617
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
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
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
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.
Key Findings
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The median sold price 411,709 is the primary indicator of realized market value in 27617 and suggests recent transactions are centered well above asking benchmarks; this gap between the median sold price and the median listing price 362,500 may indicate seller expectations outpacing some buyer offers and pricing friction in negotiations.
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Long time-to-contract is evident from the median days on market 403, which points to slower sales velocity and a market that appears to be moving toward balance rather than rapid turnover; this may indicate buyers are more selective and underwriting/affordability constraints are affecting pace.
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Supply dynamics in the sample point to relatively constrained active supply versus recent sales, which, combined with a median price per square foot 217, suggests pricing is holding at a premium for comparator properties even as transaction frequency softens; market participants should expect measured negotiation rather than aggressive bidding.
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Macro pressures include elevated interest rate pressure and a down trend in prices year-over-year alongside a down trend in rents; these factors may continue to weigh on affordability and dampen near-term demand despite positive local economic fundamentals.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold below market average
Sold below market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold at market average
Sold below market average
Raleigh, NC 27617 Real Estate Market Report
ZIP Code: 27617
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
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
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
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.
Key Findings
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The neighborhood's primary indicator, median sold price 350,000, reflects recent realized market value and suggests transactions are completing below current asking levels; this aligns with the broader down price year-over-year trend and may indicate softening at the top of the market.
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Current seller expectations (median listing price 410,000) sit above the representative recent sale level, creating a visible pricing gap that may produce pricing friction and require seller concessions or price alignment to accelerate deals.
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Market liquidity appears muted given the long median days on market 397, which points to slower sales velocity and suggests agents and sellers should plan for extended marketing timelines and more aggressive staging/positioning to attract buyers.
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Market conditions are overall balanced-to-neutral (market temperature neutral), but affordability headwinds persist from elevated interest rate pressure elevated and a down rent year-over-year trend; investors and income buyers should treat near-term demand as cautious and underwrite conservatively.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.5% rate, 0.9% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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