ZIP 27516 Housing Market Report
Raleigh Metro
Report period: May 2026
27516 Monthly Market Update – May 2026
ZIP 27516 · Last updated May 10, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$627,500
+0.4%
Median DOM (Sales)
30
0.0%
New Listings (Sales)
34
−61.4%
Median Rent
$1,850
+2.0%
Median DOM (Rental)
1
0.0%
Total Rental Listings
334
−0.9%
Month-over-Month Movement
Median sale prices moved higher. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Townhouse (22 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($1,800,000 median)
Sales Market Overview
Median Price
$627,500
+0.4%
Median DOM
30
0.0%
New Listings
34
−61.4%
Inventory
329
−0.3%
- Average Price: $765,510
- Median Price: $627,500
- Price Range: $17,000 – $3,000,000
- Price per Sq Ft (Avg/Median): $315 / $288
- Square Footage (Avg/Median): 2,528 / 2,278
- Square Footage Range: 529 – 8,218
- Days on Market (Avg/Median): 53 / 30
- Days on Market Range: 1 – 352
- New Listings: 34
- Total Listings: 329
Sales by Property Type
Condo
Avg/Median Price$427,022 / $320,000Range$189,900 – $1,150,000Price per Sq Ft$455 / $441Sq Ft936 / 953DOM50 / 44New1Total27
Land
Avg/Median Price$606,826 / $425,000Range$17,000 – $2,800,000Price per Sq Ft—Sq Ft—DOM95 / 66New2Total31
Manufactured
Avg/Median Price$342,500 / $325,000Range$325,000 – $360,000Price per Sq Ft$219 / $189Sq Ft1,580 / 1,440DOM105 / 29New0Total2
Multi-Family
Avg/Median Price$864,750 / $600,000Range$395,000 – $1,575,000Price per Sq Ft$286 / $273Sq Ft2,854 / 2,200DOM88 / 29New0Total4
Single Family
Avg/Median Price$884,496 / $775,000Range$190,000 – $3,000,000Price per Sq Ft$310 / $292Sq Ft2,843 / 2,670DOM50 / 26New24Total223
Townhouse
Avg/Median Price$479,167 / $477,346Range$249,000 – $825,000Price per Sq Ft$255 / $247Sq Ft1,894 / 1,913DOM34 / 22New7Total42
Sales by Bedroom Count
1 Beds
Avg:$345,593Median:$267,000Range:$229,000 – $729,000PSF:$490 / $441Sq Ft:687 / 605DOM:40 / 44New:0Total:15
2 Beds
Avg:$559,712Median:$420,000Range:$190,000 – $2,500,000PSF:$370 / $323Sq Ft:1,451 / 1,288DOM:43 / 22New:3Total:26
3 Beds
Avg:$634,219Median:$549,000Range:$189,900 – $2,975,000PSF:$302 / $285Sq Ft:2,073 / 1,916DOM:44 / 23New:15Total:118
4 Beds
Avg:$890,430Median:$785,000Range:$280,000 – $3,000,000PSF:$295 / $274Sq Ft:2,964 / 2,784DOM:51 / 24New:12Total:93
5 Beds
Avg:$1,157,129Median:$1,124,500Range:$599,000 – $2,498,000PSF:$300 / $296Sq Ft:3,840 / 3,643DOM:55 / 44New:2Total:39
6 Beds
Avg:$1,454,833Median:$1,125,000Range:$889,000 – $2,500,000PSF:$293 / $296Sq Ft:5,074 / 4,673DOM:104 / 34New:0Total:6
7 Beds
Avg:$1,800,000Median:$1,800,000Range:$1,800,000 – $1,800,000PSF:$376 / $376Sq Ft:4,786 / 4,786DOM:39 / 39New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $345,593 | $267,000 | $229,000 – $729,000 | $490 / $441 | 687 / 605 | 40 / 44 | 0 | 15 |
| 2 Beds | $559,712 | $420,000 | $190,000 – $2,500,000 | $370 / $323 | 1,451 / 1,288 | 43 / 22 | 3 | 26 |
| 3 Beds | $634,219 | $549,000 | $189,900 – $2,975,000 | $302 / $285 | 2,073 / 1,916 | 44 / 23 | 15 | 118 |
| 4 Beds | $890,430 | $785,000 | $280,000 – $3,000,000 | $295 / $274 | 2,964 / 2,784 | 51 / 24 | 12 | 93 |
| 5 Beds | $1,157,129 | $1,124,500 | $599,000 – $2,498,000 | $300 / $296 | 3,840 / 3,643 | 55 / 44 | 2 | 39 |
| 6 Beds | $1,454,833 | $1,125,000 | $889,000 – $2,500,000 | $293 / $296 | 5,074 / 4,673 | 104 / 34 | 0 | 6 |
| 7 Beds | $1,800,000 | $1,800,000 | $1,800,000 – $1,800,000 | $376 / $376 | 4,786 / 4,786 | 39 / 39 | 0 | 1 |
Rental Market Overview
Median Rent
$1,850
+2.0%
Median DOM
1
0.0%
New Listings
127
Inventory
334
−0.9%
- Average Rent: $2,122
- Median Rent: $1,850
- Rent Range: $700 – $9,191
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,357 / 1,120
- Square Footage Range: 300 – 5,519
- Days on Market (Avg/Median): 20 / 1
- Days on Market Range: 1 – 274
- New Listings: 127
- Total Listings: 334
Rentals by Property Type
Apartment
$1,499
Median DOM: 1
Inventory: 167
MoM: +2.0%
Condo
$1,600
Median DOM: 1
Inventory: 17
MoM: +2.0%
Single Family
$2,500
Median DOM: 1
Inventory: 110
MoM: +2.0%
Townhouse
$2,600
Median DOM: 26
Inventory: 34
MoM: +2.0%
Apartment
Avg/Median Rent$1,746 / $1,499Range$700 – $9,191Rent per Sq Ft$2 / $2Sq Ft1,032 / 1,000DOM17 / 1New74Total167
Condo
Avg/Median Rent$1,760 / $1,600Range$700 – $3,600Rent per Sq Ft$2 / $2Sq Ft932 / 917DOM15 / 1New6Total17
Multi-Family
Avg/Median Rent$1,872 / $1,400Range$1,350 – $2,995Rent per Sq Ft$2 / $2Sq Ft1,282 / 980DOM26 / 17New2Total6
Single Family
Avg/Median Rent$2,618 / $2,500Range$1,000 – $6,500Rent per Sq Ft$2 / $1Sq Ft1,843 / 1,820DOM19 / 1New38Total110
Townhouse
Avg/Median Rent$2,587 / $2,600Range$1,495 – $3,560Rent per Sq Ft$2 / $2Sq Ft1,784 / 1,688DOM38 / 26New7Total34
Rentals by Bedroom Count
Studio
Avg:$1,438Median:$1,200Range:$1,000 – $1,900PSF:$3 / $3Sq Ft:702 / 485DOM:60 / 45New:1Total:4
1 Beds
Avg:$1,356Median:$1,293Range:$700 – $1,995PSF:$2 / $2Sq Ft:781 / 765DOM:22 / 1New:24Total:55
2 Beds
Avg:$1,734Median:$1,588Range:$1,000 – $3,600PSF:$2 / $2Sq Ft:1,059 / 1,043DOM:10 / 1New:60Total:137
3 Beds
Avg:$2,617Median:$2,450Range:$1,450 – $9,191PSF:$2 / $2Sq Ft:1,622 / 1,412DOM:28 / 1New:30Total:89
4 Beds
Avg:$2,994Median:$2,950Range:$725 – $4,400PSF:$1 / $1Sq Ft:2,357 / 2,151DOM:28 / 9New:7Total:38
5 Beds
Avg:$3,983Median:$3,950Range:$1,400 – $6,500PSF:$2 / $1Sq Ft:3,291 / 3,272DOM:29 / 7New:4Total:10
6 Beds
Avg:$4,300Median:$4,300Range:$4,300 – $4,300PSF:$2 / $2Sq Ft:2,706 / 2,706DOM:1 / 1New:1Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,438 | $1,200 | $1,000 – $1,900 | $3 / $3 | 702 / 485 | 60 / 45 | 1 | 4 |
| 1 Beds | $1,356 | $1,293 | $700 – $1,995 | $2 / $2 | 781 / 765 | 22 / 1 | 24 | 55 |
| 2 Beds | $1,734 | $1,588 | $1,000 – $3,600 | $2 / $2 | 1,059 / 1,043 | 10 / 1 | 60 | 137 |
| 3 Beds | $2,617 | $2,450 | $1,450 – $9,191 | $2 / $2 | 1,622 / 1,412 | 28 / 1 | 30 | 89 |
| 4 Beds | $2,994 | $2,950 | $725 – $4,400 | $1 / $1 | 2,357 / 2,151 | 28 / 9 | 7 | 38 |
| 5 Beds | $3,983 | $3,950 | $1,400 – $6,500 | $2 / $1 | 3,291 / 3,272 | 29 / 7 | 4 | 10 |
| 6 Beds | $4,300 | $4,300 | $4,300 – $4,300 | $2 / $2 | 2,706 / 2,706 | 1 / 1 | 1 | 1 |
6-Month Sales Trend
Dec 2025
Median Price:$519,900Median DOM:82New:22Total:230
Jan 2026
Median Price:$525,000Median DOM:79New:53Total:215
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:$627,500Median DOM:30New:34Total:329
6-Month Rental Trend
Dec 2025
Median Rent:$1,885Median DOM:1New:145Total:273
Jan 2026
Median Rent:$1,700Median DOM:1New:143Total:225
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:$1,850Median DOM:1New:127Total:334
Key Market Takeaways
Median sale prices moved higher this month while inventory compressed. Days on market were unchanged, signaling steady buyer activity. Rental pricing increased, 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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