ZIP 27616 Housing Market Report
Raleigh Metro
Report period: July 2026
27616 Monthly Market Update – July 2026
ZIP 27616 · Last updated Jul 12, 2026 · Data range Feb 2026 – Jul 2026
Executive Snapshot
Median Sale Price
$375,000
+1.4%
Median DOM (Sales)
39
+11.4%
New Listings (Sales)
70
−43.5%
Median Rent
$1,546
−0.5%
Median DOM (Rental)
1
0.0%
Total Rental Listings
1,752
+2.3%
Month-over-Month Movement
Median sale prices moved higher. Days on market lengthened. Rents softened. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (30 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($825,000 median)
Sales Market Overview
Median Price
$375,000
+1.4%
Median DOM
39
+11.4%
New Listings
70
−43.5%
Inventory
395
+1.0%
- Average Price: $391,241
- Median Price: $375,000
- Price Range: $85,000 – $2,600,000
- Price per Sq Ft (Avg/Median): $195 / $189
- Square Footage (Avg/Median): 2,028 / 1,911
- Square Footage Range: 806 – 4,934
- Days on Market (Avg/Median): 56 / 39
- Days on Market Range: 1 – 308
- New Listings: 70
- Total Listings: 395
Sales by Property Type
Condo
Avg/Median Price$208,148 / $165,000Range$149,999 – $349,990Price per Sq Ft$184 / $188Sq Ft1,122 / 1,004DOM76 / 59New0Total10
Land
Avg/Median Price$503,890 / $165,000Range$85,000 – $2,600,000Price per Sq Ft—Sq Ft—DOM155 / 128New0Total10
Multi-Family
Avg/Median Price$362,475 / $250,000Range$250,000 – $524,900Price per Sq Ft$208 / $174Sq Ft1,700 / 1,437DOM99 / 31New0Total4
Single Family
Avg/Median Price$445,087 / $438,900Range$225,000 – $1,298,600Price per Sq Ft$201 / $195Sq Ft2,285 / 2,326DOM44 / 30New52Total239
Townhouse
Avg/Median Price$299,955 / $289,990Range$199,999 – $459,000Price per Sq Ft$185 / $185Sq Ft1,641 / 1,562DOM69 / 53New18Total132
Sales by Bedroom Count
1 Beds
Avg:$171,900Median:$165,000Range:$160,000 – $189,500PSF:$181 / $188Sq Ft:956 / 1,004DOM:60 / 59New:0Total:5
2 Beds
Avg:$241,453Median:$244,900Range:$149,999 – $420,000PSF:$197 / $194Sq Ft:1,236 / 1,274DOM:95 / 66New:0Total:27
3 Beds
Avg:$345,071Median:$329,995Range:$225,000 – $999,900PSF:$201 / $192Sq Ft:1,739 / 1,718DOM:54 / 38New:34Total:208
4 Beds
Avg:$459,558Median:$445,000Range:$329,990 – $1,298,600PSF:$192 / $188Sq Ft:2,411 / 2,345DOM:43 / 35New:17Total:82
5 Beds
Avg:$511,705Median:$510,000Range:$400,000 – $764,000PSF:$178 / $177Sq Ft:2,886 / 2,867DOM:49 / 26New:19Total:61
6 Beds
Avg:$624,900Median:$624,900Range:$624,900 – $624,900PSF:$195 / $195Sq Ft:3,208 / 3,208DOM:—New:0Total:1
7 Beds
Avg:$825,000Median:$825,000Range:$825,000 – $825,000PSF:$223 / $223Sq Ft:3,700 / 3,700DOM:174 / 174New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $171,900 | $165,000 | $160,000 – $189,500 | $181 / $188 | 956 / 1,004 | 60 / 59 | 0 | 5 |
| 2 Beds | $241,453 | $244,900 | $149,999 – $420,000 | $197 / $194 | 1,236 / 1,274 | 95 / 66 | 0 | 27 |
| 3 Beds | $345,071 | $329,995 | $225,000 – $999,900 | $201 / $192 | 1,739 / 1,718 | 54 / 38 | 34 | 208 |
| 4 Beds | $459,558 | $445,000 | $329,990 – $1,298,600 | $192 / $188 | 2,411 / 2,345 | 43 / 35 | 17 | 82 |
| 5 Beds | $511,705 | $510,000 | $400,000 – $764,000 | $178 / $177 | 2,886 / 2,867 | 49 / 26 | 19 | 61 |
| 6 Beds | $624,900 | $624,900 | $624,900 – $624,900 | $195 / $195 | 3,208 / 3,208 | — | 0 | 1 |
| 7 Beds | $825,000 | $825,000 | $825,000 – $825,000 | $223 / $223 | 3,700 / 3,700 | 174 / 174 | 0 | 1 |
Rental Market Overview
Median Rent
$1,546
−0.5%
Median DOM
1
0.0%
New Listings
1,013
Inventory
1,752
+2.3%
- Average Rent: $1,603
- Median Rent: $1,546
- Rent Range: $545 – $4,250
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,070 / 1,018
- Square Footage Range: 440 – 5,046
- Days on Market (Avg/Median): 6 / 1
- Days on Market Range: 1 – 327
- New Listings: 1,013
- Total Listings: 1,752
Rentals by Property Type
Apartment
$1,490
Median DOM: 1
Inventory: 1,481
MoM: −0.5%
Condo
$1,595
Median DOM: 17
Inventory: 5
MoM: −0.5%
Single Family
$2,050
Median DOM: 1
Inventory: 180
MoM: −0.5%
Townhouse
$1,900
Median DOM: 13
Inventory: 86
MoM: −0.5%
Apartment
Avg/Median Rent$1,526 / $1,490Range$925 – $2,596Rent per Sq Ft$2 / $2Sq Ft940 / 876DOM3 / 1New928Total1,481
Condo
Avg/Median Rent$1,367 / $1,595Range$845 – $1,700Rent per Sq Ft$1 / $1Sq Ft1,692 / 1,740DOM15 / 17New1Total5
Single Family
Avg/Median Rent$2,093 / $2,050Range$545 – $4,250Rent per Sq Ft$1 / $1Sq Ft1,875 / 1,740DOM20 / 1New64Total180
Townhouse
Avg/Median Rent$1,919 / $1,900Range$1,450 – $3,000Rent per Sq Ft$1 / $1Sq Ft1,686 / 1,705DOM29 / 13New20Total86
Rentals by Bedroom Count
Studio
Avg:$1,149Median:$1,124Range:$980 – $1,419PSF:$2 / $3Sq Ft:488 / 440DOM:9 / 1New:21Total:27
1 Beds
Avg:$1,349Median:$1,324Range:$545 – $2,017PSF:$2 / $2Sq Ft:762 / 756DOM:2 / 1New:463Total:739
2 Beds
Avg:$1,665Median:$1,609Range:$1,060 – $3,000PSF:$1 / $1Sq Ft:1,116 / 1,117DOM:4 / 1New:368Total:605
3 Beds
Avg:$1,949Median:$1,893Range:$845 – $3,500PSF:$1 / $1Sq Ft:1,503 / 1,434DOM:16 / 1New:134Total:315
4 Beds
Avg:$2,340Median:$2,300Range:$1,915 – $2,787PSF:$1 / $1Sq Ft:2,266 / 2,242DOM:16 / 4New:23Total:52
5 Beds
Avg:$2,725Median:$2,640Range:$2,135 – $4,250PSF:$1 / $1Sq Ft:2,824 / 2,638DOM:16 / 1New:4Total:14
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,149 | $1,124 | $980 – $1,419 | $2 / $3 | 488 / 440 | 9 / 1 | 21 | 27 |
| 1 Beds | $1,349 | $1,324 | $545 – $2,017 | $2 / $2 | 762 / 756 | 2 / 1 | 463 | 739 |
| 2 Beds | $1,665 | $1,609 | $1,060 – $3,000 | $1 / $1 | 1,116 / 1,117 | 4 / 1 | 368 | 605 |
| 3 Beds | $1,949 | $1,893 | $845 – $3,500 | $1 / $1 | 1,503 / 1,434 | 16 / 1 | 134 | 315 |
| 4 Beds | $2,340 | $2,300 | $1,915 – $2,787 | $1 / $1 | 2,266 / 2,242 | 16 / 4 | 23 | 52 |
| 5 Beds | $2,725 | $2,640 | $2,135 – $4,250 | $1 / $1 | 2,824 / 2,638 | 16 / 1 | 4 | 14 |
6-Month Sales Trend
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:$364,900Median DOM:25New:145Total:403
Jun 2026
Median Price:$369,999Median DOM:35New:124Total:391
Jul 2026
Median Price:$375,000Median DOM:39New:70Total:395
6-Month Rental Trend
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:$1,565Median DOM:1New:1,233Total:1,646
Jun 2026
Median Rent:$1,553Median DOM:1New:1,261Total:1,712
Jul 2026
Median Rent:$1,546Median DOM:1New:1,013Total:1,752
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market lengthened, signaling slower 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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