ZIP 27587 Housing Market Report
Raleigh Metro
Report period: May 2026
27587 Monthly Market Update – May 2026
ZIP 27587 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$495,000
+1.0%
Median DOM (Sales)
21
−4.5%
New Listings (Sales)
200
−42.4%
Median Rent
$1,810
+0.6%
Median DOM (Rental)
1
0.0%
Total Rental Listings
567
−3.9%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Condo (5 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: Studio ($1,400,000 median)
Sales Market Overview
Median Price
$495,000
+1.0%
Median DOM
21
−4.5%
New Listings
200
−42.4%
Inventory
935
+3.3%
- Average Price: $645,133
- Median Price: $495,000
- Price Range: $70,000 – $5,377,700
- Price per Sq Ft (Avg/Median): $228 / $209
- Square Footage (Avg/Median): 2,720 / 2,510
- Square Footage Range: 876 – 14,438
- Days on Market (Avg/Median): 51 / 21
- Days on Market Range: 1 – 364
- New Listings: 200
- Total Listings: 935
Sales by Property Type
Condo
Avg/Median Price$360,230 / $355,000Range$285,000 – $465,000Price per Sq Ft$192 / $187Sq Ft1,953 / 1,584DOM20 / 5New25Total53
Land
Avg/Median Price$459,620 / $325,000Range$70,000 – $1,650,000Price per Sq Ft—Sq Ft—DOM117 / 80New1Total24
Manufactured
Avg/Median Price$284,950 / $260,000Range$260,000 – $309,900Price per Sq Ft$152 / $126Sq Ft1,899 / 1,736DOM240 / 233New0Total2
Multi-Family
Avg/Median Price$419,896 / $389,990Range$274,900 – $925,000Price per Sq Ft$198 / $172Sq Ft2,247 / 2,273DOM18 / 5New19Total24
Single Family
Avg/Median Price$790,933 / $625,000Range$174,900 – $5,377,700Price per Sq Ft$245 / $226Sq Ft3,120 / 2,935DOM52 / 25New94Total619
Townhouse
Avg/Median Price$341,980 / $334,990Range$235,000 – $485,000Price per Sq Ft$191 / $193Sq Ft1,809 / 1,800DOM48 / 20New61Total213
Sales by Bedroom Count
Studio
Avg:$1,400,000Median:$1,400,000Range:$1,400,000 – $1,400,000PSF:$289 / $289Sq Ft:4,840 / 4,840DOM:5 / 5New:1Total:1
2 Beds
Avg:$360,080Median:$325,000Range:$174,900 – $735,000PSF:$238 / $224Sq Ft:1,514 / 1,562DOM:35 / 11New:10Total:46
3 Beds
Avg:$436,627Median:$384,900Range:$215,000 – $2,350,000PSF:$215 / $201Sq Ft:2,027 / 1,924DOM:44 / 17New:97Total:390
4 Beds
Avg:$808,726Median:$650,000Range:$260,000 – $2,800,000PSF:$241 / $221Sq Ft:3,178 / 3,000DOM:59 / 26New:56Total:328
5 Beds
Avg:$952,813Median:$658,305Range:$423,000 – $5,377,700PSF:$229 / $197Sq Ft:3,881 / 3,434DOM:45 / 24New:33Total:137
6 Beds
Avg:$902,544Median:$735,000Range:$465,000 – $1,699,000PSF:$206 / $182Sq Ft:4,256 / 4,266DOM:30 / 14New:2Total:9
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,400,000 | $1,400,000 | $1,400,000 – $1,400,000 | $289 / $289 | 4,840 / 4,840 | 5 / 5 | 1 | 1 |
| 2 Beds | $360,080 | $325,000 | $174,900 – $735,000 | $238 / $224 | 1,514 / 1,562 | 35 / 11 | 10 | 46 |
| 3 Beds | $436,627 | $384,900 | $215,000 – $2,350,000 | $215 / $201 | 2,027 / 1,924 | 44 / 17 | 97 | 390 |
| 4 Beds | $808,726 | $650,000 | $260,000 – $2,800,000 | $241 / $221 | 3,178 / 3,000 | 59 / 26 | 56 | 328 |
| 5 Beds | $952,813 | $658,305 | $423,000 – $5,377,700 | $229 / $197 | 3,881 / 3,434 | 45 / 24 | 33 | 137 |
| 6 Beds | $902,544 | $735,000 | $465,000 – $1,699,000 | $206 / $182 | 4,256 / 4,266 | 30 / 14 | 2 | 9 |
Rental Market Overview
Median Rent
$1,810
+0.6%
Median DOM
1
0.0%
New Listings
213
Inventory
567
−3.9%
- Average Rent: $1,892
- Median Rent: $1,810
- Rent Range: $675 – $6,000
- Rent per Sq Ft (Avg/Median): $1 / $1
- Square Footage (Avg/Median): 1,470 / 1,328
- Square Footage Range: 561 – 5,100
- Days on Market (Avg/Median): 16 / 1
- Days on Market Range: 1 – 312
- New Listings: 213
- Total Listings: 567
Rentals by Property Type
Apartment
$1,575
Median DOM: 1
Inventory: 305
MoM: +0.6%
Condo
$1,995
Median DOM: 4
Inventory: 7
MoM: +0.6%
Single Family
$2,295
Median DOM: 1
Inventory: 166
MoM: +0.6%
Townhouse
$1,995
Median DOM: 11
Inventory: 84
MoM: +0.6%
Apartment
Avg/Median Rent$1,618 / $1,575Range$1,074 – $2,730Rent per Sq Ft$2 / $2Sq Ft1,077 / 1,055DOM6 / 1New138Total305
Condo
Avg/Median Rent$2,001 / $1,995Range$1,400 – $2,275Rent per Sq Ft$1 / $1Sq Ft1,948 / 2,218DOM25 / 4New4Total7
Manufactured
Avg/Median Rent$1,595 / $1,595Range$1,595 – $1,595Rent per Sq Ft—Sq Ft—DOM66 / 66New0Total1
Multi-Family
Avg/Median Rent$1,662 / $1,225Range$1,225 – $2,100Rent per Sq Ft$2 / $2Sq Ft784 / 768DOM48 / 38New0Total4
Single Family
Avg/Median Rent$2,353 / $2,295Range$1,250 – $6,000Rent per Sq Ft$1 / $1Sq Ft2,044 / 2,110DOM25 / 1New46Total166
Townhouse
Avg/Median Rent$1,984 / $1,995Range$675 – $2,775Rent per Sq Ft$1 / $1Sq Ft1,830 / 1,804DOM33 / 11New25Total84
Rentals by Bedroom Count
Studio
Avg:$2,300Median:$2,300Range:$2,300 – $2,300PSF:$1 / $1Sq Ft:2,301 / 2,301DOM:67 / 67New:0Total:1
1 Beds
Avg:$1,385Median:$1,345Range:$950 – $1,890PSF:$2 / $2Sq Ft:838 / 833DOM:12 / 1New:55Total:124
2 Beds
Avg:$1,676Median:$1,647Range:$1,225 – $2,730PSF:$1 / $1Sq Ft:1,154 / 1,102DOM:4 / 1New:68Total:146
3 Beds
Avg:$2,046Median:$1,995Range:$675 – $3,500PSF:$1 / $1Sq Ft:1,678 / 1,573DOM:25 / 1New:64Total:201
4 Beds
Avg:$2,444Median:$2,400Range:$1,795 – $4,000PSF:$1 / $1Sq Ft:2,273 / 2,200DOM:22 / 5New:23Total:79
5 Beds
Avg:$3,111Median:$2,610Range:$2,350 – $6,000PSF:$1 / $1Sq Ft:2,994 / 2,800DOM:24 / 1New:3Total:16
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $2,300 | $2,300 | $2,300 – $2,300 | $1 / $1 | 2,301 / 2,301 | 67 / 67 | 0 | 1 |
| 1 Beds | $1,385 | $1,345 | $950 – $1,890 | $2 / $2 | 838 / 833 | 12 / 1 | 55 | 124 |
| 2 Beds | $1,676 | $1,647 | $1,225 – $2,730 | $1 / $1 | 1,154 / 1,102 | 4 / 1 | 68 | 146 |
| 3 Beds | $2,046 | $1,995 | $675 – $3,500 | $1 / $1 | 1,678 / 1,573 | 25 / 1 | 64 | 201 |
| 4 Beds | $2,444 | $2,400 | $1,795 – $4,000 | $1 / $1 | 2,273 / 2,200 | 22 / 5 | 23 | 79 |
| 5 Beds | $3,111 | $2,610 | $2,350 – $6,000 | $1 / $1 | 2,994 / 2,800 | 24 / 1 | 3 | 16 |
6-Month Sales Trend
Dec 2025
Median Price:$469,900Median DOM:48New:205Total:783
Jan 2026
Median Price:$475,000Median DOM:43New:269Total:734
Feb 2026
Median Price:$475,000Median DOM:34New:250Total:739
Mar 2026
Median Price:$485,000Median DOM:22New:346Total:828
Apr 2026
Median Price:$490,000Median DOM:22New:347Total:905
May 2026
Median Price:$495,000Median DOM:21New:200Total:935
6-Month Rental Trend
Dec 2025
Median Rent:$1,768Median DOM:1New:367Total:598
Jan 2026
Median Rent:$1,712Median DOM:1New:329Total:562
Feb 2026
Median Rent:$1,755Median DOM:1New:320Total:538
Mar 2026
Median Rent:$1,795Median DOM:1New:374Total:571
Apr 2026
Median Rent:$1,800Median DOM:1New:352Total:590
May 2026
Median Rent:$1,810Median DOM:1New:213Total:567
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market declined, signaling improving 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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