ZIP 27516 Housing Market Report
Raleigh Metro
Report period: July 2026
27516 Monthly Market Update – July 2026
ZIP 27516 · Last updated Jul 10, 2026 · Data range Feb 2026 – Jul 2026
Executive Snapshot
Median Sale Price
$634,900
−0.0%
Median DOM (Sales)
48
+2.1%
New Listings (Sales)
25
−64.8%
Median Rent
$1,846
0.0%
Median DOM (Rental)
1
0.0%
Total Rental Listings
315
+1.3%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market lengthened. Rents were stable. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Manufactured (7 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 6 Beds ($1,575,000 median)
Sales Market Overview
Median Price
$634,900
−0.0%
Median DOM
48
+2.1%
New Listings
25
−64.8%
Inventory
338
+1.8%
- Average Price: $773,222
- Median Price: $634,900
- Price Range: $15,000 – $3,100,000
- Price per Sq Ft (Avg/Median): $316 / $287
- Square Footage (Avg/Median): 2,504 / 2,277
- Square Footage Range: 529 – 8,218
- Days on Market (Avg/Median): 63 / 48
- Days on Market Range: 1 – 308
- New Listings: 25
- Total Listings: 338
Sales by Property Type
Condo
Avg/Median Price$449,634 / $310,000Range$179,900 – $1,150,000Price per Sq Ft$429 / $408Sq Ft1,027 / 1,061DOM75 / 67New0Total32
Land
Avg/Median Price$705,525 / $425,000Range$15,000 – $3,100,000Price per Sq Ft—Sq Ft—DOM93 / 84New3Total36
Manufactured
Avg/Median Price$286,700 / $249,500Range$249,500 – $323,900Price per Sq Ft$174 / $160Sq Ft1,642 / 1,563DOM32 / 7New0Total2
Multi-Family
Avg/Median Price$856,667 / $600,000Range$395,000 – $1,575,000Price per Sq Ft$283 / $273Sq Ft2,805 / 2,200DOM146 / 82New0Total3
Single Family
Avg/Median Price$873,729 / $735,000Range$259,000 – $2,975,000Price per Sq Ft$311 / $289Sq Ft2,800 / 2,672DOM59 / 43New13Total232
Townhouse
Avg/Median Price$476,159 / $485,000Range$265,000 – $622,879Price per Sq Ft$254 / $262Sq Ft1,879 / 1,929DOM51 / 47New9Total33
Sales by Bedroom Count
1 Beds
Avg:$309,136Median:$249,000Range:$209,000 – $525,000PSF:$443 / $408Sq Ft:694 / 597DOM:81 / 65New:0Total:14
2 Beds
Avg:$601,207Median:$485,000Range:$185,000 – $2,500,000PSF:$412 / $337Sq Ft:1,404 / 1,253DOM:43 / 21New:3Total:30
3 Beds
Avg:$625,968Median:$550,000Range:$179,900 – $2,975,000PSF:$299 / $279Sq Ft:2,049 / 1,987DOM:52 / 42New:9Total:115
4 Beds
Avg:$901,026Median:$767,500Range:$280,000 – $2,750,000PSF:$299 / $278Sq Ft:2,947 / 2,784DOM:63 / 47New:9Total:99
5 Beds
Avg:$1,134,062Median:$1,084,999Range:$585,000 – $2,448,000PSF:$296 / $295Sq Ft:3,808 / 3,555DOM:74 / 74New:1Total:39
6 Beds
Avg:$1,633,900Median:$1,575,000Range:$1,019,500 – $2,500,000PSF:$292 / $343Sq Ft:5,690 / 5,679DOM:163 / 114New:0Total:5
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $309,136 | $249,000 | $209,000 – $525,000 | $443 / $408 | 694 / 597 | 81 / 65 | 0 | 14 |
| 2 Beds | $601,207 | $485,000 | $185,000 – $2,500,000 | $412 / $337 | 1,404 / 1,253 | 43 / 21 | 3 | 30 |
| 3 Beds | $625,968 | $550,000 | $179,900 – $2,975,000 | $299 / $279 | 2,049 / 1,987 | 52 / 42 | 9 | 115 |
| 4 Beds | $901,026 | $767,500 | $280,000 – $2,750,000 | $299 / $278 | 2,947 / 2,784 | 63 / 47 | 9 | 99 |
| 5 Beds | $1,134,062 | $1,084,999 | $585,000 – $2,448,000 | $296 / $295 | 3,808 / 3,555 | 74 / 74 | 1 | 39 |
| 6 Beds | $1,633,900 | $1,575,000 | $1,019,500 – $2,500,000 | $292 / $343 | 5,690 / 5,679 | 163 / 114 | 0 | 5 |
Rental Market Overview
Median Rent
$1,846
0.0%
Median DOM
1
0.0%
New Listings
100
Inventory
315
+1.3%
- Average Rent: $2,038
- Median Rent: $1,846
- Rent Range: $700 – $7,731
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,315 / 1,080
- Square Footage Range: 300 – 5,519
- Days on Market (Avg/Median): 24 / 1
- Days on Market Range: 1 – 299
- New Listings: 100
- Total Listings: 315
Rentals by Property Type
Apartment
$1,484
Median DOM: 1
Inventory: 163
MoM: 0.0%
Condo
$1,500
Median DOM: 1
Inventory: 13
MoM: 0.0%
Single Family
$2,495
Median DOM: 1
Inventory: 101
MoM: 0.0%
Townhouse
$2,450
Median DOM: 18
Inventory: 30
MoM: 0.0%
Apartment
Avg/Median Rent$1,684 / $1,484Range$700 – $7,731Rent per Sq Ft$2 / $2Sq Ft1,012 / 1,043DOM23 / 1New50Total163
Condo
Avg/Median Rent$1,747 / $1,500Range$1,195 – $3,200Rent per Sq Ft$2 / $2Sq Ft1,011 / 923DOM35 / 1New7Total13
Multi-Family
Avg/Median Rent$1,918 / $1,495Range$1,250 – $2,995Rent per Sq Ft$2 / $1Sq Ft1,149 / 980DOM54 / 47New1Total8
Single Family
Avg/Median Rent$2,520 / $2,495Range$1,000 – $5,580Rent per Sq Ft$2 / $2Sq Ft1,723 / 1,525DOM17 / 1New35Total101
Townhouse
Avg/Median Rent$2,498 / $2,450Range$1,345 – $3,900Rent per Sq Ft$1 / $1Sq Ft1,814 / 1,711DOM40 / 18New7Total30
Rentals by Bedroom Count
Studio
Avg:$1,344Median:$1,400Range:$1,000 – $1,650PSF:$3 / $3Sq Ft:688 / 525DOM:76 / 1New:2Total:5
1 Beds
Avg:$1,462Median:$1,425Range:$700 – $2,300PSF:$2 / $2Sq Ft:770 / 765DOM:20 / 1New:15Total:48
2 Beds
Avg:$1,714Median:$1,489Range:$1,140 – $3,500PSF:$2 / $2Sq Ft:1,067 / 1,043DOM:19 / 1New:50Total:146
3 Beds
Avg:$2,469Median:$2,400Range:$1,495 – $7,731PSF:$2 / $1Sq Ft:1,648 / 1,444DOM:28 / 1New:22Total:80
4 Beds
Avg:$3,051Median:$2,995Range:$725 – $5,000PSF:$1 / $1Sq Ft:2,360 / 2,151DOM:32 / 1New:10Total:31
5 Beds
Avg:$4,614Median:$4,375Range:$4,000 – $5,580PSF:$2 / $1Sq Ft:3,240 / 2,866DOM:57 / 1New:1Total:4
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 | $1,344 | $1,400 | $1,000 – $1,650 | $3 / $3 | 688 / 525 | 76 / 1 | 2 | 5 |
| 1 Beds | $1,462 | $1,425 | $700 – $2,300 | $2 / $2 | 770 / 765 | 20 / 1 | 15 | 48 |
| 2 Beds | $1,714 | $1,489 | $1,140 – $3,500 | $2 / $2 | 1,067 / 1,043 | 19 / 1 | 50 | 146 |
| 3 Beds | $2,469 | $2,400 | $1,495 – $7,731 | $2 / $1 | 1,648 / 1,444 | 28 / 1 | 22 | 80 |
| 4 Beds | $3,051 | $2,995 | $725 – $5,000 | $1 / $1 | 2,360 / 2,151 | 32 / 1 | 10 | 31 |
| 5 Beds | $4,614 | $4,375 | $4,000 – $5,580 | $2 / $1 | 3,240 / 2,866 | 57 / 1 | 1 | 4 |
| 6 Beds | $4,300 | $4,300 | $4,300 – $4,300 | $2 / $2 | 2,706 / 2,706 | 1 / 1 | 0 | 1 |
6-Month Sales Trend
Feb 2026
Median Price:$599,000Median DOM:43New:69Total:213
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:$634,900Median DOM:48New:25Total:338
6-Month Rental Trend
Feb 2026
Median Rent:$1,721Median DOM:1New:163Total:255
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:$1,846Median DOM:1New:100Total:315
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market lengthened, signaling slower buyer activity. Rental pricing remained stable, while total rental inventory increased.
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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