Is Raleigh, NC 27616 a buyer’s or seller’s market?

The Raleigh housing market right now

In the three months ending August 31, 2026, 11% of homes in Raleigh, NC 27616 sold above their list price, the typical home went under contract in 55 days and there were 4.3 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 190 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (13% then), homes sold more slowly (42 days then) and the median sale price fell 1% to $364,842. Overall, Raleigh is less competitive than a year ago, which gives buyers more room.

Within Wake County, homes here sell more slowly than in 90% of the county’s ZIP codes, and sell less often over asking than in 83%. On our competition score, Raleigh ranks #216 of 424 NC ZIP codes with enough sales (score 31 out of 100).

Nearby, buyers who want less competition could look at Raleigh 27605 (4% sold over asking), while Raleigh 27608 (32% sold over asking) and Cary 27518 (29% sold over asking) are even more competitive.