ZIP 27616 Housing Market Report
Raleigh Metro
Report period: May 2026
27616 Monthly Market Update – May 2026
ZIP 27616 · Last updated May 12, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$350,000
0.0%
Median DOM (Sales)
27
+22.7%
New Listings (Sales)
69
−50.4%
Median Rent
$1,575
+0.3%
Median DOM (Rental)
1
0.0%
Total Rental Listings
1,541
−3.8%
Month-over-Month Movement
Median sale prices were flat. Days on market lengthened. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (18 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($825,000 median)
Sales Market Overview
Median Price
$350,000
0.0%
Median DOM
27
+22.7%
New Listings
69
−50.4%
Inventory
398
−0.3%
- Average Price: $387,021
- Median Price: $350,000
- Price Range: $115,000 – $2,600,000
- Price per Sq Ft (Avg/Median): $196 / $189
- Square Footage (Avg/Median): 1,993 / 1,805
- Square Footage Range: 806 – 4,273
- Days on Market (Avg/Median): 51 / 27
- Days on Market Range: 1 – 320
- New Listings: 69
- Total Listings: 398
Sales by Property Type
Condo
Avg/Median Price$212,749 / $183,500Range$135,000 – $329,990Price per Sq Ft$170 / $169Sq Ft1,268 / 1,006DOM92 / 56New0Total10
Land
Avg/Median Price$576,000 / $375,000Range$115,000 – $2,600,000Price per Sq Ft—Sq Ft—DOM152 / 126New0Total9
Multi-Family
Avg/Median Price$472,475 / $425,000Range$260,000 – $680,000Price per Sq Ft$219 / $203Sq Ft2,163 / 1,874DOM152 / 101New0Total4
Single Family
Avg/Median Price$439,740 / $435,000Range$235,000 – $2,000,000Price per Sq Ft$202 / $191Sq Ft2,242 / 2,288DOM41 / 18New41Total230
Townhouse
Avg/Median Price$301,329 / $292,990Range$185,000 – $459,000Price per Sq Ft$186 / $188Sq Ft1,642 / 1,568DOM57 / 33New28Total145
Sales by Bedroom Count
Studio
Avg:$254,900Median:$254,900Range:$254,900 – $254,900PSF:$207 / $207Sq Ft:1,233 / 1,233DOM:41 / 41New:0Total:1
1 Beds
Avg:$159,500Median:$160,000Range:$135,000 – $183,500PSF:$175 / $191Sq Ft:924 / 959DOM:58 / 49New:0Total:3
2 Beds
Avg:$237,339Median:$239,999Range:$149,999 – $280,000PSF:$200 / $199Sq Ft:1,192 / 1,262DOM:74 / 53New:1Total:23
3 Beds
Avg:$335,118Median:$312,490Range:$209,000 – $999,900PSF:$201 / $192Sq Ft:1,697 / 1,647DOM:48 / 25New:42Total:229
4 Beds
Avg:$446,613Median:$430,000Range:$275,000 – $1,298,600PSF:$190 / $190Sq Ft:2,364 / 2,363DOM:46 / 26New:6Total:67
5 Beds
Avg:$537,511Median:$509,000Range:$415,000 – $2,000,000PSF:$180 / $177Sq Ft:2,960 / 2,938DOM:37 / 9New:20Total:63
6 Beds
Avg:$624,900Median:$624,900Range:$624,900 – $624,900PSF:$195 / $195Sq Ft:3,208 / 3,208DOM:320 / 320New:0Total:1
7 Beds
Avg:$825,000Median:$825,000Range:$825,000 – $825,000PSF:$223 / $223Sq Ft:3,700 / 3,700DOM:169 / 169New:0Total:1
8 Beds
Avg:$680,000Median:$680,000Range:$680,000 – $680,000PSF:$203 / $203Sq Ft:3,358 / 3,358DOM:225 / 225New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $254,900 | $254,900 | $254,900 – $254,900 | $207 / $207 | 1,233 / 1,233 | 41 / 41 | 0 | 1 |
| 1 Beds | $159,500 | $160,000 | $135,000 – $183,500 | $175 / $191 | 924 / 959 | 58 / 49 | 0 | 3 |
| 2 Beds | $237,339 | $239,999 | $149,999 – $280,000 | $200 / $199 | 1,192 / 1,262 | 74 / 53 | 1 | 23 |
| 3 Beds | $335,118 | $312,490 | $209,000 – $999,900 | $201 / $192 | 1,697 / 1,647 | 48 / 25 | 42 | 229 |
| 4 Beds | $446,613 | $430,000 | $275,000 – $1,298,600 | $190 / $190 | 2,364 / 2,363 | 46 / 26 | 6 | 67 |
| 5 Beds | $537,511 | $509,000 | $415,000 – $2,000,000 | $180 / $177 | 2,960 / 2,938 | 37 / 9 | 20 | 63 |
| 6 Beds | $624,900 | $624,900 | $624,900 – $624,900 | $195 / $195 | 3,208 / 3,208 | 320 / 320 | 0 | 1 |
| 7 Beds | $825,000 | $825,000 | $825,000 – $825,000 | $223 / $223 | 3,700 / 3,700 | 169 / 169 | 0 | 1 |
| 8 Beds | $680,000 | $680,000 | $680,000 – $680,000 | $203 / $203 | 3,358 / 3,358 | 225 / 225 | 0 | 1 |
Rental Market Overview
Median Rent
$1,575
+0.3%
Median DOM
1
0.0%
New Listings
942
Inventory
1,541
−3.8%
- Average Rent: $1,649
- Median Rent: $1,575
- Rent Range: $545 – $6,500
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,100 / 1,075
- Square Footage Range: 440 – 5,046
- Days on Market (Avg/Median): 7 / 1
- Days on Market Range: 1 – 340
- New Listings: 942
- Total Listings: 1,541
Rentals by Property Type
Apartment
$1,517
Median DOM: 1
Inventory: 1,261
MoM: +0.3%
Condo
$1,275
Median DOM: 1
Inventory: 2
MoM: +0.3%
Single Family
$2,060
Median DOM: 1
Inventory: 188
MoM: +0.3%
Townhouse
$1,845
Median DOM: 22
Inventory: 90
MoM: +0.3%
Apartment
Avg/Median Rent$1,571 / $1,517Range$978 – $3,200Rent per Sq Ft$2 / $2Sq Ft952 / 854DOM3 / 1New872Total1,261
Condo
Avg/Median Rent$1,325 / $1,275Range$1,275 – $1,375Rent per Sq Ft$1 / $1Sq Ft1,500 / 1,500DOM5 / 1New0Total2
Single Family
Avg/Median Rent$2,076 / $2,060Range$545 – $6,500Rent per Sq Ft$1 / $1Sq Ft1,878 / 1,781DOM20 / 1New52Total188
Townhouse
Avg/Median Rent$1,868 / $1,845Range$1,400 – $3,000Rent per Sq Ft$1 / $1Sq Ft1,624 / 1,629DOM47 / 22New18Total90
Rentals by Bedroom Count
Studio
Avg:$1,209Median:$1,209Range:$999 – $1,450PSF:$2 / $2Sq Ft:532 / 496DOM:8 / 1New:13Total:22
1 Beds
Avg:$1,393Median:$1,399Range:$545 – $2,800PSF:$2 / $2Sq Ft:767 / 757DOM:3 / 1New:434Total:637
2 Beds
Avg:$1,714Median:$1,718Range:$1,060 – $3,000PSF:$2 / $1Sq Ft:1,139 / 1,134DOM:4 / 1New:358Total:517
3 Beds
Avg:$1,947Median:$1,910Range:$1,040 – $3,500PSF:$1 / $1Sq Ft:1,516 / 1,432DOM:21 / 1New:118Total:297
4 Beds
Avg:$2,326Median:$2,295Range:$1,995 – $3,200PSF:$1 / $1Sq Ft:2,268 / 2,224DOM:20 / 1New:16Total:54
5 Beds
Avg:$2,721Median:$2,450Range:$2,205 – $6,500PSF:$1 / $1Sq Ft:2,763 / 2,674DOM:26 / 1New:3Total:14
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,209 | $1,209 | $999 – $1,450 | $2 / $2 | 532 / 496 | 8 / 1 | 13 | 22 |
| 1 Beds | $1,393 | $1,399 | $545 – $2,800 | $2 / $2 | 767 / 757 | 3 / 1 | 434 | 637 |
| 2 Beds | $1,714 | $1,718 | $1,060 – $3,000 | $2 / $1 | 1,139 / 1,134 | 4 / 1 | 358 | 517 |
| 3 Beds | $1,947 | $1,910 | $1,040 – $3,500 | $1 / $1 | 1,516 / 1,432 | 21 / 1 | 118 | 297 |
| 4 Beds | $2,326 | $2,295 | $1,995 – $3,200 | $1 / $1 | 2,268 / 2,224 | 20 / 1 | 16 | 54 |
| 5 Beds | $2,721 | $2,450 | $2,205 – $6,500 | $1 / $1 | 2,763 / 2,674 | 26 / 1 | 3 | 14 |
6-Month Sales Trend
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:$350,000Median DOM:25New:150Total:375
Apr 2026
Median Price:$350,000Median DOM:22New:139Total:399
May 2026
Median Price:$350,000Median DOM:27New:69Total:398
6-Month Rental Trend
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:$1,565Median DOM:1New:1,212Total:1,602
Apr 2026
Median Rent:$1,570Median DOM:1New:1,255Total:1,602
May 2026
Median Rent:$1,575Median DOM:1New:942Total:1,541
Key Market Takeaways
Median sale prices held steady this month while inventory compressed. Days on market lengthened, signaling slower 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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