ZIP 27704 Housing Market Report
Raleigh Metro
Report period: May 2026
27704 Monthly Market Update – May 2026
ZIP 27704 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$328,549
−0.2%
Median DOM (Sales)
29
−3.3%
New Listings (Sales)
66
−37.1%
Median Rent
$1,675
−1.2%
Median DOM (Rental)
1
0.0%
Total Rental Listings
327
−0.9%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market improved. Rents softened. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Multi-Family (10 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 6 Beds ($1,795,000 median)
Sales Market Overview
Median Price
$328,549
−0.2%
Median DOM
29
−3.3%
New Listings
66
−37.1%
Inventory
357
+2.6%
- Average Price: $409,634
- Median Price: $328,549
- Price Range: $32,000 – $6,800,000
- Price per Sq Ft (Avg/Median): $231 / $213
- Square Footage (Avg/Median): 1,636 / 1,558
- Square Footage Range: 576 – 5,309
- Days on Market (Avg/Median): 58 / 29
- Days on Market Range: 1 – 362
- New Listings: 66
- Total Listings: 357
Sales by Property Type
Land
Avg/Median Price$796,457 / $100,000Range$32,000 – $6,800,000Price per Sq Ft—Sq Ft—DOM120 / 111New0Total38
Manufactured
Avg/Median Price$300,000 / $300,000Range$300,000 – $300,000Price per Sq Ft$207 / $207Sq Ft1,450 / 1,450DOM65 / 65New0Total1
Multi-Family
Avg/Median Price$1,074,000 / $353,000Range$353,000 – $1,795,000Price per Sq Ft$367 / $296Sq Ft2,646 / 1,192DOM53 / 10New1Total2
Single Family
Avg/Median Price$383,504 / $375,000Range$160,000 – $1,597,000Price per Sq Ft$245 / $234Sq Ft1,654 / 1,520DOM56 / 29New40Total225
Townhouse
Avg/Median Price$299,315 / $293,502Range$235,000 – $449,990Price per Sq Ft$193 / $195Sq Ft1,570 / 1,558DOM44 / 15New25Total91
Sales by Bedroom Count
1 Beds
Avg:$170,000Median:$170,000Range:$170,000 – $170,000PSF:$295 / $295Sq Ft:576 / 576DOM:215 / 215New:0Total:1
2 Beds
Avg:$296,615Median:$275,000Range:$160,000 – $999,000PSF:$277 / $256Sq Ft:1,074 / 968DOM:69 / 42New:5Total:41
3 Beds
Avg:$339,160Median:$319,280Range:$175,000 – $550,000PSF:$231 / $213Sq Ft:1,511 / 1,467DOM:52 / 26New:34Total:204
4 Beds
Avg:$425,606Median:$410,000Range:$265,000 – $625,000PSF:$210 / $210Sq Ft:2,053 / 1,934DOM:57 / 28New:10Total:45
5 Beds
Avg:$500,252Median:$452,481Range:$395,000 – $1,597,000PSF:$182 / $179Sq Ft:2,688 / 2,514DOM:24 / 5New:16Total:27
6 Beds
Avg:$1,795,000Median:$1,795,000Range:$1,795,000 – $1,795,000PSF:$438 / $438Sq Ft:4,100 / 4,100DOM:10 / 10New:1Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $170,000 | $170,000 | $170,000 – $170,000 | $295 / $295 | 576 / 576 | 215 / 215 | 0 | 1 |
| 2 Beds | $296,615 | $275,000 | $160,000 – $999,000 | $277 / $256 | 1,074 / 968 | 69 / 42 | 5 | 41 |
| 3 Beds | $339,160 | $319,280 | $175,000 – $550,000 | $231 / $213 | 1,511 / 1,467 | 52 / 26 | 34 | 204 |
| 4 Beds | $425,606 | $410,000 | $265,000 – $625,000 | $210 / $210 | 2,053 / 1,934 | 57 / 28 | 10 | 45 |
| 5 Beds | $500,252 | $452,481 | $395,000 – $1,597,000 | $182 / $179 | 2,688 / 2,514 | 24 / 5 | 16 | 27 |
| 6 Beds | $1,795,000 | $1,795,000 | $1,795,000 – $1,795,000 | $438 / $438 | 4,100 / 4,100 | 10 / 10 | 1 | 1 |
Rental Market Overview
Median Rent
$1,675
−1.2%
Median DOM
1
0.0%
New Listings
146
Inventory
327
−0.9%
- Average Rent: $1,666
- Median Rent: $1,675
- Rent Range: $500 – $4,800
- Rent per Sq Ft (Avg/Median): $1 / $1
- Square Footage (Avg/Median): 1,228 / 1,120
- Square Footage Range: 561 – 3,238
- Days on Market (Avg/Median): 18 / 1
- Days on Market Range: 1 – 354
- New Listings: 146
- Total Listings: 327
Rentals by Property Type
Apartment
$1,393
Median DOM: 1
Inventory: 156
MoM: −1.2%
Condo
$1,200
Median DOM: 1
Inventory: 6
MoM: −1.2%
Single Family
$1,850
Median DOM: 1
Inventory: 100
MoM: −1.2%
Townhouse
$1,875
Median DOM: 20
Inventory: 62
MoM: −1.2%
Apartment
Avg/Median Rent$1,459 / $1,393Range$500 – $2,499Rent per Sq Ft$2 / $1Sq Ft980 / 1,000DOM13 / 1New99Total156
Condo
Avg/Median Rent$1,373 / $1,200Range$1,200 – $1,695Rent per Sq Ft$2 / $2Sq Ft900 / 750DOM10 / 1New1Total6
Multi-Family
Avg/Median Rent$1,350 / $1,275Range$1,275 – $1,500Rent per Sq Ft$2 / $2Sq Ft767 / 675DOM26 / 21New0Total3
Single Family
Avg/Median Rent$1,910 / $1,850Range$645 – $4,800Rent per Sq Ft$1 / $1Sq Ft1,534 / 1,457DOM14 / 1New34Total100
Townhouse
Avg/Median Rent$1,835 / $1,875Range$750 – $2,250Rent per Sq Ft$1 / $1Sq Ft1,513 / 1,500DOM39 / 20New12Total62
Rentals by Bedroom Count
1 Beds
Avg:$1,212Median:$1,249Range:$500 – $1,795PSF:$2 / $2Sq Ft:754 / 736DOM:24 / 1New:35Total:68
2 Beds
Avg:$1,539Median:$1,500Range:$1,095 – $2,499PSF:$1 / $1Sq Ft:1,046 / 1,037DOM:9 / 1New:53Total:95
3 Beds
Avg:$1,840Median:$1,849Range:$750 – $3,500PSF:$1 / $1Sq Ft:1,426 / 1,386DOM:21 / 1New:52Total:141
4 Beds
Avg:$2,433Median:$2,195Range:$1,695 – $4,800PSF:$1 / $1Sq Ft:2,058 / 1,850DOM:36 / 1New:4Total:20
5 Beds
Avg:$2,617Median:$2,750Range:$2,200 – $2,900PSF:$1 / $1Sq Ft:3,190 / 3,143DOM:1 / 1New:2Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $1,212 | $1,249 | $500 – $1,795 | $2 / $2 | 754 / 736 | 24 / 1 | 35 | 68 |
| 2 Beds | $1,539 | $1,500 | $1,095 – $2,499 | $1 / $1 | 1,046 / 1,037 | 9 / 1 | 53 | 95 |
| 3 Beds | $1,840 | $1,849 | $750 – $3,500 | $1 / $1 | 1,426 / 1,386 | 21 / 1 | 52 | 141 |
| 4 Beds | $2,433 | $2,195 | $1,695 – $4,800 | $1 / $1 | 2,058 / 1,850 | 36 / 1 | 4 | 20 |
| 5 Beds | $2,617 | $2,750 | $2,200 – $2,900 | $1 / $1 | 3,190 / 3,143 | 1 / 1 | 2 | 3 |
6-Month Sales Trend
Dec 2025
Median Price:$309,990Median DOM:49New:78Total:287
Jan 2026
Median Price:$308,990Median DOM:39New:122Total:311
Feb 2026
Median Price:$313,990Median DOM:34New:112Total:345
Mar 2026
Median Price:$314,900Median DOM:29New:106Total:349
Apr 2026
Median Price:$329,174Median DOM:30New:105Total:348
May 2026
Median Price:$328,549Median DOM:29New:66Total:357
6-Month Rental Trend
Dec 2025
Median Rent:$1,719Median DOM:1New:147Total:249
Jan 2026
Median Rent:$1,630Median DOM:1New:163Total:273
Feb 2026
Median Rent:$1,650Median DOM:1New:193Total:289
Mar 2026
Median Rent:$1,697Median DOM:1New:188Total:307
Apr 2026
Median Rent:$1,695Median DOM:1New:221Total:330
May 2026
Median Rent:$1,675Median DOM:1New:146Total:327
Key Market Takeaways
Median sale prices softened this month while inventory expanded. 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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