ZIP 27516 Housing Market Report
Raleigh Metro
Report period: March 2026
27516 Monthly Market Update – March 2026
ZIP 27516 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$600,000
+0.2%
Median DOM (Sales)
33
−23.3%
New Listings (Sales)
39
−43.5%
Median Rent
$1,731
+0.6%
Median DOM (Rental)
1
0.0%
Total Rental Listings
268
+5.1%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents moved higher. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Multi-Family (13 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($1,800,000 median)
Sales Market Overview
Median Price
$600,000
+0.2%
Median DOM
33
−23.3%
New Listings
39
−43.5%
Inventory
235
+10.3%
- Average Price: $754,230
- Median Price: $600,000
- Price Range: $20,000 – $3,400,000
- Price per Sq Ft (Avg/Median): $309 / $275
- Square Footage (Avg/Median): 2,504 / 2,278
- Square Footage Range: 529 – 6,712
- Days on Market (Avg/Median): 77 / 33
- Days on Market Range: 2 – 364
- New Listings: 39
- Total Listings: 235
Sales by Property Type
Condo
Avg/Median Price$401,076 / $299,900Range$189,900 – $895,000Price per Sq Ft$449 / $463Sq Ft902 / 897DOM176 / 174New4Total21
Land
Avg/Median Price$735,490 / $425,000Range$20,000 – $3,400,000Price per Sq Ft—Sq Ft—DOM102 / 86New5Total30
Manufactured
Avg/Median Price$377,000 / $369,999Range$369,999 – $384,000Price per Sq Ft$262 / $257Sq Ft1,440 / 1,440DOM141 / 129New0Total2
Multi-Family
Avg/Median Price$1,232,000 / $889,000Range$889,000 – $1,575,000Price per Sq Ft$327 / $296Sq Ft3,708 / 3,000DOM109 / 13New0Total2
Single Family
Avg/Median Price$898,166 / $799,900Range$285,000 – $3,300,000Price per Sq Ft$306 / $283Sq Ft2,937 / 2,853DOM63 / 30New18Total136
Townhouse
Avg/Median Price$486,091 / $475,000Range$295,000 – $825,000Price per Sq Ft$255 / $252Sq Ft1,923 / 1,908DOM53 / 20New12Total44
Sales by Bedroom Count
Studio
Avg:$285,000Median:$285,000Range:$285,000 – $285,000PSF:$382 / $382Sq Ft:747 / 747DOM:233 / 233New:0Total:1
1 Beds
Avg:$345,809Median:$279,000Range:$259,000 – $699,900PSF:$500 / $467Sq Ft:673 / 591DOM:270 / 342New:1Total:11
2 Beds
Avg:$489,042Median:$395,000Range:$225,000 – $895,000PSF:$358 / $319Sq Ft:1,396 / 1,253DOM:93 / 72New:3Total:19
3 Beds
Avg:$637,000Median:$495,000Range:$189,900 – $3,300,000PSF:$289 / $267Sq Ft:2,147 / 1,916DOM:57 / 27New:12Total:81
4 Beds
Avg:$894,434Median:$799,900Range:$299,900 – $1,895,000PSF:$291 / $266Sq Ft:3,046 / 2,981DOM:60 / 26New:11Total:63
5 Beds
Avg:$1,094,740Median:$1,050,000Range:$620,000 – $1,825,000PSF:$302 / $279Sq Ft:3,611 / 3,455DOM:49 / 14New:7Total:26
6 Beds
Avg:$1,196,333Median:$1,125,000Range:$889,000 – $1,575,000PSF:$274 / $296Sq Ft:4,709 / 4,416DOM:133 / 181New:0Total:3
7 Beds
Avg:$1,800,000Median:$1,800,000Range:$1,800,000 – $1,800,000PSF:$376 / $376Sq Ft:4,786 / 4,786DOM:25 / 25New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $285,000 | $285,000 | $285,000 – $285,000 | $382 / $382 | 747 / 747 | 233 / 233 | 0 | 1 |
| 1 Beds | $345,809 | $279,000 | $259,000 – $699,900 | $500 / $467 | 673 / 591 | 270 / 342 | 1 | 11 |
| 2 Beds | $489,042 | $395,000 | $225,000 – $895,000 | $358 / $319 | 1,396 / 1,253 | 93 / 72 | 3 | 19 |
| 3 Beds | $637,000 | $495,000 | $189,900 – $3,300,000 | $289 / $267 | 2,147 / 1,916 | 57 / 27 | 12 | 81 |
| 4 Beds | $894,434 | $799,900 | $299,900 – $1,895,000 | $291 / $266 | 3,046 / 2,981 | 60 / 26 | 11 | 63 |
| 5 Beds | $1,094,740 | $1,050,000 | $620,000 – $1,825,000 | $302 / $279 | 3,611 / 3,455 | 49 / 14 | 7 | 26 |
| 6 Beds | $1,196,333 | $1,125,000 | $889,000 – $1,575,000 | $274 / $296 | 4,709 / 4,416 | 133 / 181 | 0 | 3 |
| 7 Beds | $1,800,000 | $1,800,000 | $1,800,000 – $1,800,000 | $376 / $376 | 4,786 / 4,786 | 25 / 25 | 0 | 1 |
Rental Market Overview
Median Rent
$1,731
+0.6%
Median DOM
1
0.0%
New Listings
143
Inventory
268
+5.1%
- Average Rent: $2,110
- Median Rent: $1,731
- Rent Range: $725 – $8,564
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,325 / 1,080
- Square Footage Range: 300 – 3,880
- Days on Market (Avg/Median): 21 / 1
- Days on Market Range: 1 – 311
- New Listings: 143
- Total Listings: 268
Rentals by Property Type
Apartment
$1,478
Median DOM: 1
Inventory: 135
MoM: +0.6%
Condo
$1,695
Median DOM: 4
Inventory: 16
MoM: +0.6%
Single Family
$2,500
Median DOM: 1
Inventory: 99
MoM: +0.6%
Townhouse
$2,600
Median DOM: 20
Inventory: 17
MoM: +0.6%
Apartment
Avg/Median Rent$1,722 / $1,478Range$725 – $8,564Rent per Sq Ft$2 / $2Sq Ft1,012 / 937DOM15 / 1New85Total135
Condo
Avg/Median Rent$1,924 / $1,695Range$1,325 – $3,600Rent per Sq Ft$2 / $2Sq Ft1,011 / 932DOM23 / 4New7Total16
Multi-Family
Avg/Median Rent$1,600 / $1,600Range$1,600 – $1,600Rent per Sq Ft—Sq Ft—DOM255 / 255New0Total1
Single Family
Avg/Median Rent$2,608 / $2,500Range$1,000 – $6,500Rent per Sq Ft$2 / $1Sq Ft1,801 / 1,610DOM23 / 1New48Total99
Townhouse
Avg/Median Rent$2,499 / $2,600Range$1,595 – $2,995Rent per Sq Ft$1 / $1Sq Ft1,705 / 1,688DOM33 / 20New3Total17
Rentals by Bedroom Count
Studio
Avg:$1,278Median:$1,100Range:$950 – $1,700PSF:$2 / $2Sq Ft:739 / 525DOM:24 / 29New:1Total:4
1 Beds
Avg:$1,341Median:$1,255Range:$975 – $3,000PSF:$2 / $2Sq Ft:772 / 750DOM:23 / 1New:29Total:51
2 Beds
Avg:$1,719Median:$1,625Range:$1,070 – $3,600PSF:$2 / $2Sq Ft:1,044 / 1,043DOM:10 / 1New:65Total:102
3 Beds
Avg:$2,588Median:$2,400Range:$1,400 – $8,564PSF:$2 / $1Sq Ft:1,582 / 1,382DOM:30 / 2New:31Total:69
4 Beds
Avg:$3,111Median:$3,200Range:$725 – $4,800PSF:$2 / $1Sq Ft:2,154 / 2,150DOM:29 / 1New:15Total:35
5 Beds
Avg:$4,270Median:$3,950Range:$3,200 – $6,500PSF:$1 / $1Sq Ft:3,181 / 3,272DOM:49 / 30New:1Total:5
6 Beds
Avg:$3,950Median:$3,600Range:$3,600 – $4,300PSF:$2 / $1Sq Ft:2,616 / 2,526DOM:1 / 1New:1Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,278 | $1,100 | $950 – $1,700 | $2 / $2 | 739 / 525 | 24 / 29 | 1 | 4 |
| 1 Beds | $1,341 | $1,255 | $975 – $3,000 | $2 / $2 | 772 / 750 | 23 / 1 | 29 | 51 |
| 2 Beds | $1,719 | $1,625 | $1,070 – $3,600 | $2 / $2 | 1,044 / 1,043 | 10 / 1 | 65 | 102 |
| 3 Beds | $2,588 | $2,400 | $1,400 – $8,564 | $2 / $1 | 1,582 / 1,382 | 30 / 2 | 31 | 69 |
| 4 Beds | $3,111 | $3,200 | $725 – $4,800 | $2 / $1 | 2,154 / 2,150 | 29 / 1 | 15 | 35 |
| 5 Beds | $4,270 | $3,950 | $3,200 – $6,500 | $1 / $1 | 3,181 / 3,272 | 49 / 30 | 1 | 5 |
| 6 Beds | $3,950 | $3,600 | $3,600 – $4,300 | $2 / $1 | 2,616 / 2,526 | 1 / 1 | 1 | 2 |
6-Month Sales Trend
Oct 2025
Median Price:$554,976Median DOM:51New:69Total:292
Nov 2025
Median Price:$547,990Median DOM:57New:50Total:262
Dec 2025
Median Price:$519,900Median DOM:82New:22Total:230
Jan 2026
Median Price:$525,000Median DOM:79New:53Total:215
Feb 2026
Median Price:$599,000Median DOM:43New:69Total:213
Mar 2026
Median Price:$600,000Median DOM:33New:39Total:235
6-Month Rental Trend
Oct 2025
Median Rent:$2,100Median DOM:1New:201Total:273
Nov 2025
Median Rent:$2,000Median DOM:1New:184Total:292
Dec 2025
Median Rent:$1,885Median DOM:1New:145Total:273
Jan 2026
Median Rent:$1,700Median DOM:1New:143Total:225
Feb 2026
Median Rent:$1,721Median DOM:1New:163Total:255
Mar 2026
Median Rent:$1,731Median DOM:1New:143Total:268
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market declined, signaling improving buyer activity. Rental pricing increased, 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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