Downtown Raleigh, NC Housing Market

The Downtown Raleigh housing market is somewhat competitive. The median sale price of a home in Downtown Raleigh was $478K last month, down 8.1% since last year. The median sale price per square foot in Downtown Raleigh is $390, down 17.0% since last year.

Downtown Raleigh Housing Market Trends

What is the housing market like in Downtown Raleigh today?

In July 2024, Downtown Raleigh home prices were down 8.1% compared to last year, selling for a median price of $478K. On average, homes in Downtown Raleigh sell after 68 days on the market compared to 25 days last year. There were 46 homes sold in July this year, up from 19 last year.

Median Sale Price -8.1% year-over-year # of Homes Sold +142.1% year-over-year Median Days on Market +43 year-over-year All Home Types 1 year 3 years 5 years Median Sale Price Median Sale Price (All Home Types) -8.1% YoY | Jul 2024 Based on Redfin calculations of home data from MLS and/or public records. Downtown Raleigh, NC United States

To compare other locations to the Downtown Raleigh and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Raleigh add value to a home.

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How hot is the Downtown Raleigh housing market?

Downtown Raleigh is somewhat competitive. Homes sell in 81 days. Somewhat Competitive Redfin Compete Score ™

The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.

Calculated over the last 3 months

Compare With Nearby Neighborhoods Very Competitive Redfin Compete Score ™

The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.

Calculated over the last 3 months

Somewhat Competitive Redfin Compete Score ™

The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.

Calculated over the last 3 months

Sale-to-List Price +0.8 pt year-over-year Homes Sold Above List Price +7.0 pt year-over-year Homes with Price Drops -- year-over-year All Home Types 1 year 3 years 5 years Sale-to-List Price Sale-to-List Price (All Home Types) +0.8 pt YoY | Jul 2024 Based on Redfin calculations of home data from MLS and/or public records. Downtown Raleigh, NC United States

Home offer insights for Downtown Raleigh

Explore recent offers and recently sold homes in Downtown Raleigh

Recent offers

View houses in Downtown Raleigh that sold recently

Recently sold homes

Local rules require you to be signed in to see more photos. Sign in for price Last Sold Price 1,137 sq ft 235 New Bern Pl #201, Raleigh, NC 27601 List Price Sale to List Days on Market 235 New Bern Pl #201, Raleigh, NC 27601

Photo of 511 S Bloodworth St #105, Raleigh, NC 27601

SOLD AUG 30, 2024 $1,445,000 Last Sold Price 2,717 sq ft 511 S Bloodworth St #105, Raleigh, NC 27601 List Price Sale to List 0% over list Days on Market 511 S Bloodworth St #105, Raleigh, NC 27601

Photo of 319 Fayetteville St #511, Raleigh, NC 27601

SOLD AUG 23, 2024 3D WALKTHROUGH $520,000 Last Sold Price 1,430 sq ft 319 Fayetteville St #511, Raleigh, NC 27601 List Price Sale to List 1% under list Days on Market 319 Fayetteville St #511, Raleigh, NC 27601

Photo of 617 S West St, Raleigh, NC 27601

SOLD AUG 21, 2024 3D WALKTHROUGH $1,145,000 Last Sold Price 2,349 sq ft 617 S West St, Raleigh, NC 27601 List Price Sale to List 4% under list Days on Market 617 S West St, Raleigh, NC 27601

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SOLD AUG 20, 2024 $750,000 Last Sold Price 1,722 sq ft 509 Rosengarten Aly, Raleigh, NC 27603 List Price Sale to List 0% over list Days on Market 509 Rosengarten Aly, Raleigh, NC 27603 SOLD AUG 15, 2024 1,473 sq ft 222 Glenwood Ave #619, Raleigh, NC 27603 List Price Sale to List Days on Market 222 Glenwood Ave #619, Raleigh, NC 27603

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SOLD AUG 14, 2024 $375,000 Last Sold Price 1,032 sq ft 400 W North St #904, Raleigh, NC 27603 List Price Sale to List 1% under list Days on Market 400 W North St #904, Raleigh, NC 27603

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SOLD AUG 8, 2024 $534,900 Last Sold Price 1,486 sq ft 444 S Blount St #311, Raleigh, NC 27601 List Price Sale to List 1% under list Days on Market 444 S Blount St #311, Raleigh, NC 27601 See all recently sold homes in Downtown Raleigh . See listings

Schools in Downtown Raleigh

Learn about schools in the Downtown Raleigh area GreatSchools Rating Partnership Elementary Public • K-5 28 reviews Wiley Elementary Public • K-5 16 reviews

School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.

Climate's impact on Downtown Raleigh housing

Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in Downtown Raleigh.

Flood Factor - Minor

13% of properties are at risk of severe flooding over the next 30 years

Flood Factor

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Downtown Raleigh has a minor risk of flooding. 132 properties in Downtown Raleigh are likely to be severely affected

by flooding over the next 30 years. This represents 13% of all properties in Downtown Raleigh . Flood risk is increasing slower than the national average.

Fire Factor - Minimal

<1% of properties are at risk of wildfire over the next 30 years

Fire Factor

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Overall, Downtown Raleigh has a minimal risk of wildfire impacting the community over the next 30 years.

Wind Factor - Major

100% of properties are at major risk of a severe wind event over the next 30 years

Wind Factor

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Downtown Raleigh has a Major Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Downtown Raleigh is most at risk from hurricanes . 1,391 properties in Downtown Raleigh have some risk of being in a severe wind event within the next 30 years.

Wind likelihood over time

If an exceedingly rare windstorm (a 1-in-3,000 year storm event)

occurred today, it could cause wind gusts of up to 84 mph . In 30 years, an event of this same likelihood would show increased wind gusts of up to 95 mph .

Heat Factor - Major

58% of properties are at major risk of heat over the next 30 years

Heat Factor

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Downtown Raleigh has a major risk from heat. This is due to "feels like" temperatures increasing, and because 58% of homes in Downtown Raleigh have a Major Heat Factor® .

Downtown Raleigh is expected to see a 128 % increase in the number of days over 105 ºF over the next 30 years. Downtown Raleigh is expected to experience 6

this year, and 16 days above 105 ºF in 30 years. Provided by First Street Foundation

Transportation in Downtown Raleigh

Learn about the walkability, bikeability, and transit-friendliness of Downtown Raleigh

More real estate resources for Downtown Raleigh

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