27516 Housing Market Report March 2025•Orange County, North Carolina

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Housing Prices in 27516, NC

How much do homes in 27516, NC cost?

Housing Market Conditions

Is 27516, NC a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

27516 is a Seller's Market

Difference Since March 2024

Since last year, 27516 has remained a Seller's Market.

Insight

27516 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$633,875$282/SqFt
+$3,125
0.5%

Based on all homes sold in the last 12 months

Insight

The sold price of homes in 27516 has remained the same since last year.

Summary: The median home sold price in 27516 was $633,875 in March 2025, up 0.5% from last year, and the median price per square foot was $282.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
27517
+3.6%
27516
0.5%
27514
-4.5%
27510
-13.3%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMar 2024Mar 2025Change YoY
1$330K$332.5K
+0.7%
2$386.2K$390K
+1.0%
3$525K$550.5K
+4.9%
4$715K$796.5K
+11.4%
5$870K$982.5K
+12.9%

Summary: 27516 housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes increased by +0.7%. The home price for 2 bedroom homes increased by +1.0%. The home price for 3 bedroom homes increased by +4.9%. The home price for 4 bedroom homes increased by +11.4%. The home price for 5 bedroom homes increased by +12.9%.

How does 27516, NC compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

27516, NC

Housing supply in 27516, NC

How many homes are available in 27516, NC?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
164Last MonthMar 2025
1152 months agoFeb 2025
+42.6 %
Change MoMFeb – Mar

Summary: The 27516 real estate market had 164 homes for sale in Mar 2025, a 42.6 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
37Last MonthMar 2025
262 months agoFeb 2025
+42.3 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
110
-100.0%
21115
+36.4%
35162
+21.6%
43760
+62.2%
51527
+80.0%

Summary: 27516 housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -100.0%. The inventory for 2 bedroom homes increased by +36.4%. The inventory for 3 bedroom homes increased by +21.6%. The inventory for 4 bedroom homes increased by +62.2%. The inventory for 5 bedroom homes increased by +80.0%.

Asking Price vs. Sold Price

How much do homes in 27516, NC cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price13 Homes

At Asking Price1 Home

Under Asking Price23 Homes

Insight

If you're buying a home in 27516, you may be able to get a good deal. 62.2% of homes here sold below asking price last month.

Summary: A total of 37 homes were sold or pending in 27516 in March 2025, up by 42.3% month-over-month. Of the 37 sold homes, 62% were sold under asking, 3% were sold at asking, and and 35% were sold over asking.

Days on Market for 27516, NC

How long does it take to sell a home in 27516, NC?

Breakdown of Home Sale Times

Under 30 Days25 Homes

30 – 90 Days6 Homes

Over 90 Days6 Homes

Insight

Many homes in 27516 are selling fast, if you're buying plan to act quickly.

Summary: During March 2025, 37 homes were sold in 27516; 68% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
39 DaysThis YearMar 2025
44 Days1 year agoMar 2024
-9.7 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in 27516 had an average listing age of 39 days in Mar 2025, down by 9.7% compared to the previous year.

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Newest Listings in 27516, NC

What homes are available in 27516, NC?

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MLS Disclaimers and Copyright

Based on information from Doorify MLS, for the period 04/01/2023 - 04/01/2025

IDX Copyright © 2025 Doorify MLS of North Carolina. All rights reserved. Listings marked with a Doorify MLS icon are provided courtesy of the Doorify MLS, of North Carolina, Internet Data Exchange Database. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use.

Properties subject to prior sale, change, withdrawal or rental. Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s) featured on this website. Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA, competitive or comparative market analysis, or home valuation of any property.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/14/2025, 11:20:58 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.