ZIP 27516 Housing Market Report
Raleigh Metro
Report period: August 2026
27516 Monthly Market Update – August 2026
ZIP 27516 · Last updated Aug 9, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$610,000
−0.8%
Median DOM (Sales)
46
0.0%
New Listings (Sales)
15
−81.5%
Median Rent
$1,850
−0.9%
Median DOM (Rental)
1
0.0%
Total Rental Listings
260
−4.1%
Month-over-Month Movement
Median sale prices eased compared to last month. Rents softened. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Manufactured (7 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($6,500,000 median)
Sales Market Overview
Median Price
$610,000
−0.8%
Median DOM
46
0.0%
New Listings
15
−81.5%
Inventory
333
−0.6%
- Average Price: $758,117
- Median Price: $610,000
- Price Range: $15,000 – $6,500,000
- Price per Sq Ft (Avg/Median): $314 / $282
- Square Footage (Avg/Median): 2,444 / 2,194
- Square Footage Range: 529 – 9,743
- Days on Market (Avg/Median): 68 / 46
- Days on Market Range: 2 – 325
- New Listings: 15
- Total Listings: 333
Sales by Property Type
Condo
Avg/Median Price$399,282 / $251,000Range$169,900 – $1,150,000Price per Sq Ft$394 / $407Sq Ft996 / 955DOM71 / 64New1Total29
Land
Avg/Median Price$610,143 / $375,000Range$15,000 – $2,800,000Price per Sq Ft—Sq Ft—DOM107 / 108New0Total35
Manufactured
Avg/Median Price$249,500 / $249,500Range$249,500 – $249,500Price per Sq Ft$160 / $160Sq Ft1,563 / 1,563DOM7 / 7New0Total1
Multi-Family
Avg/Median Price$985,000 / $395,000Range$395,000 – $1,575,000Price per Sq Ft$288 / $219Sq Ft3,108 / 1,800DOM210 / 112New0Total2
Single Family
Avg/Median Price$872,579 / $700,000Range$259,000 – $6,500,000Price per Sq Ft$316 / $287Sq Ft2,713 / 2,560DOM63 / 43New8Total229
Townhouse
Avg/Median Price$472,394 / $484,900Range$215,000 – $622,879Price per Sq Ft$249 / $251Sq Ft1,901 / 1,955DOM54 / 32New6Total37
Sales by Bedroom Count
1 Beds
Avg:$300,000Median:$249,000Range:$209,000 – $499,000PSF:$427 / $408Sq Ft:700 / 597DOM:81 / 62New:1Total:14
2 Beds
Avg:$558,009Median:$425,000Range:$179,900 – $2,500,000PSF:$375 / $329Sq Ft:1,410 / 1,272DOM:51 / 31New:0Total:32
3 Beds
Avg:$611,504Median:$529,000Range:$169,900 – $2,975,000PSF:$293 / $278Sq Ft:2,031 / 1,949DOM:60 / 43New:6Total:118
4 Beds
Avg:$870,749Median:$747,000Range:$249,990 – $2,750,000PSF:$296 / $275Sq Ft:2,870 / 2,764DOM:64 / 43New:7Total:94
5 Beds
Avg:$1,111,644Median:$1,074,999Range:$575,000 – $2,398,000PSF:$290 / $283Sq Ft:3,794 / 3,555DOM:68 / 41New:1Total:33
6 Beds
Avg:$1,974,917Median:$1,430,000Range:$1,019,500 – $4,200,000PSF:$326 / $337Sq Ft:5,802 / 4,773DOM:144 / 113New:0Total:6
7 Beds
Avg:$6,500,000Median:$6,500,000Range:$6,500,000 – $6,500,000PSF:$1,680 / $1,680Sq Ft:3,868 / 3,868DOM:157 / 157New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $300,000 | $249,000 | $209,000 – $499,000 | $427 / $408 | 700 / 597 | 81 / 62 | 1 | 14 |
| 2 Beds | $558,009 | $425,000 | $179,900 – $2,500,000 | $375 / $329 | 1,410 / 1,272 | 51 / 31 | 0 | 32 |
| 3 Beds | $611,504 | $529,000 | $169,900 – $2,975,000 | $293 / $278 | 2,031 / 1,949 | 60 / 43 | 6 | 118 |
| 4 Beds | $870,749 | $747,000 | $249,990 – $2,750,000 | $296 / $275 | 2,870 / 2,764 | 64 / 43 | 7 | 94 |
| 5 Beds | $1,111,644 | $1,074,999 | $575,000 – $2,398,000 | $290 / $283 | 3,794 / 3,555 | 68 / 41 | 1 | 33 |
| 6 Beds | $1,974,917 | $1,430,000 | $1,019,500 – $4,200,000 | $326 / $337 | 5,802 / 4,773 | 144 / 113 | 0 | 6 |
| 7 Beds | $6,500,000 | $6,500,000 | $6,500,000 – $6,500,000 | $1,680 / $1,680 | 3,868 / 3,868 | 157 / 157 | 0 | 1 |
Rental Market Overview
Median Rent
$1,850
−0.9%
Median DOM
1
0.0%
New Listings
93
Inventory
260
−4.1%
- Average Rent: $2,037
- Median Rent: $1,850
- Rent Range: $700 – $5,580
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,294 / 1,048
- Square Footage Range: 300 – 5,519
- Days on Market (Avg/Median): 26 / 1
- Days on Market Range: 1 – 321
- New Listings: 93
- Total Listings: 260
Rentals by Property Type
Apartment
$1,523
Median DOM: 1
Inventory: 131
MoM: −0.9%
Condo
$1,480
Median DOM: 1
Inventory: 12
MoM: −0.9%
Single Family
$2,250
Median DOM: 1
Inventory: 84
MoM: −0.9%
Townhouse
$2,395
Median DOM: 31
Inventory: 27
MoM: −0.9%
Apartment
Avg/Median Rent$1,719 / $1,523Range$700 – $4,000Rent per Sq Ft$2 / $2Sq Ft1,010 / 1,043DOM23 / 1New52Total131
Condo
Avg/Median Rent$1,684 / $1,480Range$1,195 – $3,200Rent per Sq Ft$2 / $2Sq Ft948 / 923DOM37 / 1New3Total12
Multi-Family
Avg/Median Rent$1,808 / $1,495Range$1,250 – $2,800Rent per Sq Ft$1 / $1Sq Ft1,170 / 980DOM73 / 63New0Total6
Single Family
Avg/Median Rent$2,448 / $2,250Range$1,000 – $5,580Rent per Sq Ft$2 / $2Sq Ft1,647 / 1,444DOM16 / 1New30Total84
Townhouse
Avg/Median Rent$2,511 / $2,395Range$1,345 – $5,500Rent per Sq Ft$2 / $1Sq Ft1,740 / 1,680DOM55 / 31New8Total27
Rentals by Bedroom Count
Studio
Avg:$1,288Median:$1,100Range:$1,000 – $1,650PSF:$3 / $3Sq Ft:702 / 485DOM:77 / 1New:1Total:4
1 Beds
Avg:$1,523Median:$1,450Range:$700 – $2,100PSF:$2 / $2Sq Ft:759 / 738DOM:18 / 1New:22Total:44
2 Beds
Avg:$1,767Median:$1,523Range:$1,120 – $3,200PSF:$2 / $2Sq Ft:1,094 / 1,048DOM:22 / 1New:43Total:122
3 Beds
Avg:$2,440Median:$2,300Range:$1,325 – $5,500PSF:$2 / $1Sq Ft:1,631 / 1,566DOM:35 / 1New:14Total:63
4 Beds
Avg:$3,052Median:$2,800Range:$1,895 – $5,000PSF:$1 / $1Sq Ft:2,380 / 2,200DOM:23 / 1New:12Total:23
5 Beds
Avg:$4,577Median:$4,150Range:$4,000 – $5,580PSF:$2 / $1Sq Ft:3,276 / 2,866DOM:85 / 69New:1Total:3
6 Beds
Avg:$4,300Median:$4,300Range:$4,300 – $4,300PSF:$2 / $2Sq Ft:2,706 / 2,706DOM:1 / 1New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,288 | $1,100 | $1,000 – $1,650 | $3 / $3 | 702 / 485 | 77 / 1 | 1 | 4 |
| 1 Beds | $1,523 | $1,450 | $700 – $2,100 | $2 / $2 | 759 / 738 | 18 / 1 | 22 | 44 |
| 2 Beds | $1,767 | $1,523 | $1,120 – $3,200 | $2 / $2 | 1,094 / 1,048 | 22 / 1 | 43 | 122 |
| 3 Beds | $2,440 | $2,300 | $1,325 – $5,500 | $2 / $1 | 1,631 / 1,566 | 35 / 1 | 14 | 63 |
| 4 Beds | $3,052 | $2,800 | $1,895 – $5,000 | $1 / $1 | 2,380 / 2,200 | 23 / 1 | 12 | 23 |
| 5 Beds | $4,577 | $4,150 | $4,000 – $5,580 | $2 / $1 | 3,276 / 2,866 | 85 / 69 | 1 | 3 |
| 6 Beds | $4,300 | $4,300 | $4,300 – $4,300 | $2 / $2 | 2,706 / 2,706 | 1 / 1 | 0 | 1 |
6-Month Sales Trend
Mar 2026
Median Price:$609,900Median DOM:26New:110Total:284
Apr 2026
Median Price:$625,000Median DOM:30New:88Total:330
May 2026
Median Price:$639,000Median DOM:37New:95Total:325
Jun 2026
Median Price:$635,000Median DOM:47New:71Total:332
Jul 2026
Median Price:$615,000Median DOM:46New:81Total:335
Aug 2026
Median Price:$610,000Median DOM:46New:15Total:333
6-Month Rental Trend
Mar 2026
Median Rent:$1,750Median DOM:1New:201Total:296
Apr 2026
Median Rent:$1,814Median DOM:1New:193Total:337
May 2026
Median Rent:$1,875Median DOM:1New:181Total:317
Jun 2026
Median Rent:$1,846Median DOM:1New:167Total:311
Jul 2026
Median Rent:$1,867Median DOM:1New:131Total:271
Aug 2026
Median Rent:$1,850Median DOM:1New:93Total:260
Key Market Takeaways
Median sale prices softened this month while inventory compressed. Days on market were unchanged, signaling steady buyer activity. Rental pricing eased, while total rental inventory tightened.
Market data is only valuable if you act on it. With pricing stabilizing and days on market shifting, this is the type of environment where disciplined investors find their edge.
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