ZIP 27616 Housing Market Report
Raleigh Metro
Report period: August 2026
27616 Monthly Market Update – August 2026
ZIP 27616 · Last updated Aug 11, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$379,000
0.0%
Median DOM (Sales)
43
−2.3%
New Listings (Sales)
60
−49.6%
Median Rent
$1,525
−0.2%
Median DOM (Rental)
1
0.0%
Total Rental Listings
1,655
−1.0%
Month-over-Month Movement
Median sale prices were flat. Days on market improved. Rents softened. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Multi-Family (13 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 6 Beds ($600,000 median)
Sales Market Overview
Median Price
$379,000
0.0%
Median DOM
43
−2.3%
New Listings
60
−49.6%
Inventory
384
−2.8%
- Average Price: $391,877
- Median Price: $379,000
- Price Range: $85,000 – $2,600,000
- Price per Sq Ft (Avg/Median): $192 / $187
- Square Footage (Avg/Median): 2,066 / 1,967
- Square Footage Range: 840 – 4,934
- Days on Market (Avg/Median): 61 / 43
- Days on Market Range: 1 – 328
- New Listings: 60
- Total Listings: 384
Sales by Property Type
Condo
Avg/Median Price$216,935 / $169,500Range$150,000 – $349,990Price per Sq Ft$181 / $182Sq Ft1,177 / 1,004DOM87 / 77New0Total8
Land
Avg/Median Price$487,767 / $165,000Range$85,000 – $2,600,000Price per Sq Ft—Sq Ft—DOM189 / 158New0Total9
Multi-Family
Avg/Median Price$354,150 / $250,000Range$250,000 – $600,000Price per Sq Ft$194 / $175Sq Ft1,779 / 1,437DOM66 / 13New1Total6
Single Family
Avg/Median Price$444,276 / $439,000Range$130,000 – $1,348,800Price per Sq Ft$196 / $191Sq Ft2,328 / 2,391DOM52 / 34New40Total231
Townhouse
Avg/Median Price$304,635 / $295,000Range$199,999 – $459,000Price per Sq Ft$184 / $183Sq Ft1,670 / 1,680DOM67 / 62New19Total130
Sales by Bedroom Count
Studio
Avg:$445,000Median:$445,000Range:$445,000 – $445,000PSF:$151 / $151Sq Ft:2,954 / 2,954DOM:10 / 10New:0Total:1
1 Beds
Avg:$164,375Median:$158,000Range:$150,000 – $180,000PSF:$171 / $169Sq Ft:964 / 959DOM:67 / 62New:0Total:4
2 Beds
Avg:$240,933Median:$244,999Range:$153,000 – $275,000PSF:$196 / $191Sq Ft:1,243 / 1,274DOM:90 / 68New:2Total:24
3 Beds
Avg:$344,870Median:$335,000Range:$130,000 – $875,000PSF:$197 / $190Sq Ft:1,774 / 1,752DOM:60 / 46New:20Total:201
4 Beds
Avg:$464,733Median:$446,000Range:$318,000 – $1,348,800PSF:$189 / $186Sq Ft:2,460 / 2,400DOM:53 / 35New:12Total:83
5 Beds
Avg:$501,486Median:$500,000Range:$400,000 – $759,000PSF:$177 / $175Sq Ft:2,858 / 2,801DOM:47 / 18New:25Total:60
6 Beds
Avg:$612,450Median:$600,000Range:$600,000 – $624,900PSF:$199 / $195Sq Ft:3,078 / 2,949DOM:2 / 2New:1Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $445,000 | $445,000 | $445,000 – $445,000 | $151 / $151 | 2,954 / 2,954 | 10 / 10 | 0 | 1 |
| 1 Beds | $164,375 | $158,000 | $150,000 – $180,000 | $171 / $169 | 964 / 959 | 67 / 62 | 0 | 4 |
| 2 Beds | $240,933 | $244,999 | $153,000 – $275,000 | $196 / $191 | 1,243 / 1,274 | 90 / 68 | 2 | 24 |
| 3 Beds | $344,870 | $335,000 | $130,000 – $875,000 | $197 / $190 | 1,774 / 1,752 | 60 / 46 | 20 | 201 |
| 4 Beds | $464,733 | $446,000 | $318,000 – $1,348,800 | $189 / $186 | 2,460 / 2,400 | 53 / 35 | 12 | 83 |
| 5 Beds | $501,486 | $500,000 | $400,000 – $759,000 | $177 / $175 | 2,858 / 2,801 | 47 / 18 | 25 | 60 |
| 6 Beds | $612,450 | $600,000 | $600,000 – $624,900 | $199 / $195 | 3,078 / 2,949 | 2 / 2 | 1 | 2 |
Rental Market Overview
Median Rent
$1,525
−0.2%
Median DOM
1
0.0%
New Listings
872
Inventory
1,655
−1.0%
- Average Rent: $1,591
- Median Rent: $1,525
- Rent Range: $545 – $4,250
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,076 / 1,018
- Square Footage Range: 440 – 5,046
- Days on Market (Avg/Median): 7 / 1
- Days on Market Range: 1 – 331
- New Listings: 872
- Total Listings: 1,655
Rentals by Property Type
Apartment
$1,465
Median DOM: 1
Inventory: 1,380
MoM: −0.2%
Condo
$1,450
Median DOM: 32
Inventory: 5
MoM: −0.2%
Single Family
$1,999
Median DOM: 1
Inventory: 180
MoM: −0.2%
Townhouse
$1,925
Median DOM: 19
Inventory: 89
MoM: −0.2%
Apartment
Avg/Median Rent$1,512 / $1,465Range$925 – $2,597Rent per Sq Ft$2 / $2Sq Ft936 / 854DOM4 / 1New796Total1,380
Condo
Avg/Median Rent$1,318 / $1,450Range$845 – $1,700Rent per Sq Ft$1 / $1Sq Ft1,722 / 1,740DOM34 / 32New0Total5
Multi-Family
Avg/Median Rent$1,400 / $1,400Range$1,400 – $1,400Rent per Sq Ft$1 / $1Sq Ft980 / 980DOM13 / 13New0Total1
Single Family
Avg/Median Rent$2,047 / $1,999Range$545 – $4,250Rent per Sq Ft$1 / $1Sq Ft1,868 / 1,780DOM21 / 1New58Total180
Townhouse
Avg/Median Rent$1,924 / $1,925Range$1,450 – $3,000Rent per Sq Ft$1 / $1Sq Ft1,705 / 1,710DOM33 / 19New18Total89
Rentals by Bedroom Count
Studio
Avg:$1,202Median:$1,124Range:$980 – $2,200PSF:$2 / $3Sq Ft:603 / 440DOM:11 / 1New:17Total:28
1 Beds
Avg:$1,331Median:$1,315Range:$545 – $1,855PSF:$2 / $2Sq Ft:762 / 756DOM:3 / 1New:366Total:709
2 Beds
Avg:$1,664Median:$1,600Range:$1,060 – $3,000PSF:$1 / $1Sq Ft:1,118 / 1,117DOM:5 / 1New:338Total:544
3 Beds
Avg:$1,935Median:$1,895Range:$845 – $2,900PSF:$1 / $1Sq Ft:1,519 / 1,454DOM:18 / 1New:134Total:309
4 Beds
Avg:$2,261Median:$2,275Range:$1,300 – $2,700PSF:$1 / $1Sq Ft:2,235 / 2,242DOM:18 / 5New:14Total:53
5 Beds
Avg:$2,760Median:$2,640Range:$2,135 – $4,250PSF:$1 / $1Sq Ft:2,811 / 2,674DOM:19 / 1New:3Total:12
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,202 | $1,124 | $980 – $2,200 | $2 / $3 | 603 / 440 | 11 / 1 | 17 | 28 |
| 1 Beds | $1,331 | $1,315 | $545 – $1,855 | $2 / $2 | 762 / 756 | 3 / 1 | 366 | 709 |
| 2 Beds | $1,664 | $1,600 | $1,060 – $3,000 | $1 / $1 | 1,118 / 1,117 | 5 / 1 | 338 | 544 |
| 3 Beds | $1,935 | $1,895 | $845 – $2,900 | $1 / $1 | 1,519 / 1,454 | 18 / 1 | 134 | 309 |
| 4 Beds | $2,261 | $2,275 | $1,300 – $2,700 | $1 / $1 | 2,235 / 2,242 | 18 / 5 | 14 | 53 |
| 5 Beds | $2,760 | $2,640 | $2,135 – $4,250 | $1 / $1 | 2,811 / 2,674 | 19 / 1 | 3 | 12 |
6-Month Sales Trend
Mar 2026
Median Price:$350,000Median DOM:25New:150Total:375
Apr 2026
Median Price:$350,000Median DOM:22New:139Total:399
May 2026
Median Price:$364,900Median DOM:25New:145Total:403
Jun 2026
Median Price:$369,999Median DOM:35New:124Total:391
Jul 2026
Median Price:$379,000Median DOM:44New:119Total:395
Aug 2026
Median Price:$379,000Median DOM:43New:60Total:384
6-Month Rental Trend
Mar 2026
Median Rent:$1,565Median DOM:1New:1,212Total:1,602
Apr 2026
Median Rent:$1,570Median DOM:1New:1,255Total:1,602
May 2026
Median Rent:$1,565Median DOM:1New:1,233Total:1,646
Jun 2026
Median Rent:$1,553Median DOM:1New:1,261Total:1,712
Jul 2026
Median Rent:$1,528Median DOM:1New:1,202Total:1,672
Aug 2026
Median Rent:$1,525Median DOM:1New:872Total:1,655
Key Market Takeaways
Median sale prices held steady this month while inventory compressed. Days on market declined, signaling improving 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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