Market Intelligence · NC / Raleigh

Raleigh, NC 27616 Housing Market

Homes in Raleigh 27616 are valued at $348,330 on average, down 3.3% over the past year. The median list price stands at $367,450, with homes spending a median of 53 days on market as of September 2026.

Updated September 2026Median value$348K

The median home value in Raleigh, NC 27616 is $348K as of September 2026, down 3.3% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 27616 range

$320K to $376K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-3.3% over 12 months

Sep 2025$360K

Low $348KHigh $360K

Sep 2026$348K

The numbers

What is the 27616 housing market like?

As of September 2026

Typical home value

$348K

3.3%YoY

Median list price

$367K

3.2%MoM

Days on market

8.6%MoM

Homes for sale

210

7.7%MoM

Price cuts

35.5%

30.1%MoM

New listings

16.7%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

27616 housing market forecast 2027

-0.6%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 27616 to fall 0.6% by September 2027.

Over the 12 months through September 2026, typical home values in 27616 fell 3.3%, per the Zillow Home Value Index.

Will home prices drop in 27616?

Zillow's forecast says they may: it expects typical home values in 27616 to fall 0.6% by September 2027, after a 3.3% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 27616 home prices compare?

27616$348,330
Raleigh$493,622
North Carolina$284,347
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Raleigh: 15 ZIPs; North Carolina: 718 ZIPs; United States: 26,262 ZIPs).

Context

The 27616 ZIP has 210 homes for sale and 84 new listings as of September 2026. With a median list price of $367,450 and typical homes valued at $348,330, there is a meaningful gap between asking and assessed value. The median time to sale is 53 days. A key signal: 35.5% of listings have already seen a price cut. If you are considering selling, understand that the market is favoring buyers more than it has in recent years.

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Down payment20% · $69,666

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Common questions

What people ask us.

What is the typical home value in 27616?

The typical home value in Raleigh 27616 is $348,330, down 3.3% over the past year as of September 2026.

How many homes are currently for sale in 27616?

There are 210 homes for sale in 27616 as of September 2026, with 84 new listings added that month.

How long do homes typically stay on the market in 27616?

The median days on market in 27616 is 53 days as of September 2026.

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