ZIP 27616 Housing Market Report
Raleigh Metro
Report period: March 2026
27616 Monthly Market Update – March 2026
ZIP 27616 · Last updated Mar 12, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$369,000
+1.1%
Median DOM (Sales)
35
−16.7%
New Listings (Sales)
65
−39.3%
Median Rent
$1,561
−2.1%
Median DOM (Rental)
1
0.0%
Total Rental Listings
1,328
+2.3%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents softened. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (28 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($825,000 median)
Sales Market Overview
Median Price
$369,000
+1.1%
Median DOM
35
−16.7%
New Listings
65
−39.3%
Inventory
340
+4.0%
- Average Price: $397,543
- Median Price: $369,000
- Price Range: $119,900 – $2,600,000
- Price per Sq Ft (Avg/Median): $197 / $191
- Square Footage (Avg/Median): 2,023 / 1,826
- Square Footage Range: 806 – 4,273
- Days on Market (Avg/Median): 61 / 35
- Days on Market Range: 1 – 353
- New Listings: 65
- Total Listings: 340
Sales by Property Type
Condo
Avg/Median Price$215,000 / $245,000Range$135,000 – $295,000Price per Sq Ft$169 / $169Sq Ft1,300 / 1,289DOM69 / 48New1Total7
Land
Avg/Median Price$558,658 / $375,000Range$119,900 – $2,600,000Price per Sq Ft—Sq Ft—DOM87 / 65New4Total12
Multi-Family
Avg/Median Price$465,817 / $325,000Range$260,000 – $680,000Price per Sq Ft$229 / $203Sq Ft2,115 / 1,371DOM134 / 105New0Total6
Single Family
Avg/Median Price$442,702 / $440,000Range$229,500 – $2,000,000Price per Sq Ft$202 / $193Sq Ft2,255 / 2,338DOM58 / 28New37Total202
Townhouse
Avg/Median Price$307,389 / $299,900Range$175,000 – $459,000Price per Sq Ft$188 / $189Sq Ft1,647 / 1,616DOM61 / 35New23Total113
Sales by Bedroom Count
1 Beds
Avg:$151,000Median:$135,000Range:$135,000 – $167,000PSF:$171 / $134Sq Ft:906 / 806DOM:26 / 4New:1Total:2
2 Beds
Avg:$247,300Median:$250,000Range:$160,000 – $325,000PSF:$212 / $202Sq Ft:1,173 / 1,159DOM:64 / 43New:3Total:19
3 Beds
Avg:$342,831Median:$330,000Range:$180,000 – $560,000PSF:$202 / $194Sq Ft:1,728 / 1,675DOM:60 / 37New:30Total:192
4 Beds
Avg:$452,924Median:$442,000Range:$325,000 – $1,298,600PSF:$192 / $189Sq Ft:2,360 / 2,350DOM:62 / 35New:11Total:55
5 Beds
Avg:$534,121Median:$500,000Range:$415,000 – $2,000,000PSF:$181 / $177Sq Ft:2,927 / 2,938DOM:51 / 13New:16Total:55
6 Beds
Avg:$581,950Median:$539,000Range:$539,000 – $624,900PSF:$183 / $171Sq Ft:3,184 / 3,160DOM:161 / 63New:0Total:2
7 Beds
Avg:$825,000Median:$825,000Range:$825,000 – $825,000PSF:$223 / $223Sq Ft:3,700 / 3,700DOM:108 / 108New:0Total:1
8 Beds
Avg:$680,000Median:$680,000Range:$680,000 – $680,000PSF:$200 / $197Sq Ft:3,402 / 3,358DOM:150 / 126New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $151,000 | $135,000 | $135,000 – $167,000 | $171 / $134 | 906 / 806 | 26 / 4 | 1 | 2 |
| 2 Beds | $247,300 | $250,000 | $160,000 – $325,000 | $212 / $202 | 1,173 / 1,159 | 64 / 43 | 3 | 19 |
| 3 Beds | $342,831 | $330,000 | $180,000 – $560,000 | $202 / $194 | 1,728 / 1,675 | 60 / 37 | 30 | 192 |
| 4 Beds | $452,924 | $442,000 | $325,000 – $1,298,600 | $192 / $189 | 2,360 / 2,350 | 62 / 35 | 11 | 55 |
| 5 Beds | $534,121 | $500,000 | $415,000 – $2,000,000 | $181 / $177 | 2,927 / 2,938 | 51 / 13 | 16 | 55 |
| 6 Beds | $581,950 | $539,000 | $539,000 – $624,900 | $183 / $171 | 3,184 / 3,160 | 161 / 63 | 0 | 2 |
| 7 Beds | $825,000 | $825,000 | $825,000 – $825,000 | $223 / $223 | 3,700 / 3,700 | 108 / 108 | 0 | 1 |
| 8 Beds | $680,000 | $680,000 | $680,000 – $680,000 | $200 / $197 | 3,402 / 3,358 | 150 / 126 | 0 | 2 |
Rental Market Overview
Median Rent
$1,561
−2.1%
Median DOM
1
0.0%
New Listings
760
Inventory
1,328
+2.3%
- Average Rent: $1,622
- Median Rent: $1,561
- Rent Range: $545 – $6,500
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,117 / 1,084
- Square Footage Range: 440 – 5,046
- Days on Market (Avg/Median): 10 / 1
- Days on Market Range: 1 – 359
- New Listings: 760
- Total Listings: 1,328
Rentals by Property Type
Apartment
$1,510
Median DOM: 1
Inventory: 1,050
MoM: −2.1%
Condo
$1,325
Median DOM: 1
Inventory: 8
MoM: −2.1%
Single Family
$1,990
Median DOM: 1
Inventory: 175
MoM: −2.1%
Townhouse
$1,799
Median DOM: 31
Inventory: 95
MoM: −2.1%
Apartment
Avg/Median Rent$1,535 / $1,510Range$850 – $3,200Rent per Sq Ft$2 / $2Sq Ft948 / 854DOM4 / 1New675Total1,050
Condo
Avg/Median Rent$1,493 / $1,325Range$1,275 – $2,050Rent per Sq Ft$1 / $1Sq Ft1,422 / 1,215DOM41 / 1New3Total8
Single Family
Avg/Median Rent$2,035 / $1,990Range$545 – $6,500Rent per Sq Ft$1 / $1Sq Ft1,890 / 1,785DOM22 / 1New58Total175
Townhouse
Avg/Median Rent$1,839 / $1,799Range$1,225 – $3,000Rent per Sq Ft$1 / $1Sq Ft1,601 / 1,600DOM56 / 31New24Total95
Rentals by Bedroom Count
Studio
Avg:$1,261Median:$1,299Range:$999 – $1,850PSF:$2 / $2Sq Ft:621 / 496DOM:8 / 1New:17Total:24
1 Beds
Avg:$1,358Median:$1,350Range:$545 – $2,800PSF:$2 / $2Sq Ft:769 / 757DOM:4 / 1New:351Total:530
2 Beds
Avg:$1,656Median:$1,655Range:$999 – $3,000PSF:$1 / $1Sq Ft:1,127 / 1,128DOM:7 / 1New:262Total:432
3 Beds
Avg:$1,924Median:$1,865Range:$1,100 – $3,199PSF:$1 / $1Sq Ft:1,521 / 1,438DOM:23 / 1New:112Total:275
4 Beds
Avg:$2,265Median:$2,250Range:$1,749 – $3,200PSF:$1 / $1Sq Ft:2,303 / 2,327DOM:26 / 2New:17Total:58
5 Beds
Avg:$3,162Median:$2,695Range:$2,249 – $6,500PSF:$1 / $1Sq Ft:2,956 / 2,674DOM:55 / 29New:1Total:9
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,261 | $1,299 | $999 – $1,850 | $2 / $2 | 621 / 496 | 8 / 1 | 17 | 24 |
| 1 Beds | $1,358 | $1,350 | $545 – $2,800 | $2 / $2 | 769 / 757 | 4 / 1 | 351 | 530 |
| 2 Beds | $1,656 | $1,655 | $999 – $3,000 | $1 / $1 | 1,127 / 1,128 | 7 / 1 | 262 | 432 |
| 3 Beds | $1,924 | $1,865 | $1,100 – $3,199 | $1 / $1 | 1,521 / 1,438 | 23 / 1 | 112 | 275 |
| 4 Beds | $2,265 | $2,250 | $1,749 – $3,200 | $1 / $1 | 2,303 / 2,327 | 26 / 2 | 17 | 58 |
| 5 Beds | $3,162 | $2,695 | $2,249 – $6,500 | $1 / $1 | 2,956 / 2,674 | 55 / 29 | 1 | 9 |
6-Month Sales Trend
Oct 2025
Median Price:$369,900Median DOM:40New:122Total:390
Nov 2025
Median Price:$365,699Median DOM:47New:97Total:361
Dec 2025
Median Price:$365,000Median DOM:49New:93Total:342
Jan 2026
Median Price:$360,000Median DOM:58New:95Total:320
Feb 2026
Median Price:$364,900Median DOM:42New:107Total:327
Mar 2026
Median Price:$369,000Median DOM:35New:65Total:340
6-Month Rental Trend
Oct 2025
Median Rent:$1,619Median DOM:1New:594Total:854
Nov 2025
Median Rent:$1,620Median DOM:1New:665Total:903
Dec 2025
Median Rent:$1,600Median DOM:1New:731Total:1,006
Jan 2026
Median Rent:$1,600Median DOM:1New:780Total:1,108
Feb 2026
Median Rent:$1,595Median DOM:1New:989Total:1,298
Mar 2026
Median Rent:$1,561Median DOM:1New:760Total:1,328
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market declined, signaling improving buyer activity. Rental pricing eased, 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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