One Triangle suburb saw double‑digit drops. Another saw bidding wars. Here’s why.
AI-generated summary reviewed by our newsroom.
- Triangle region shows mixed housing trends with modest citywide cooling.
- Some Raleigh pockets, like East Raleigh, saw double‑digit drops; downtown rose 3.1%.
- Select enclaves like North Raleigh and Chapel Hill returned to bidding wars.
The Triangle’s housing market is no longer moving in one direction.
Redfin’s latest data shows a region that looks “balanced” on paper — Raleigh’s median sale price is down just 1.4% year over year, and homes are taking 43 days to sell — but the neighborhood‑level reality is far more uneven.
Some pockets, like downtown and East Raleigh, are still absorbing double‑digit price drops. Take, for example, a 975-square-foot condo at 301 Fayetteville St. — relisted for $485,000 in March with a $30,000 price cut and later removed after it failed to sell.
Others, like North Raleigh and Chapel Hill, are back to bidding-war territory. A 3,310-square-foot home on Highgrove Drive in Chapel Hill’s Southern Village sold for $1.42 million in April, $125,000 above listing price.
The result is a market where averages hide the extremes, and factors such as “condition, price and location” dictate sales, experts say.
Using Redfin data from March, here are some market trends:
Where prices are still falling
Redfin’s citywide cooling is modest, but several Raleigh submarkets continue to feel the aftershocks from last year’s sluggish sales.
North Hills: Median prices dropped 2.2% year over year to $901,000. Sales were up 10.8%. Homes sold after 70 days compared to 37 days last year.
East Raleigh: Prices were down 7% to $465,000 compared to last year. Sales were down 18.5%. Homes sold after 95 days compared to 62 days last year.
Durham (27703): Median prices fell 1.2% year over year to $425,000. Sales were up 20.3%. Homes sold in around 45 days compared to 28 days last year.
Northeast Durham: Prices were down 8.3% year over year to $297,990. Sales jumped 52.2%. Homes sold in around 52 days compared to 69 last year.
Hillsborough: Median prices slid 5.8% year over year to 499,000. Sales were down 30% from last year. Homes sold after 10 days compared to 20 days last year.
Where prices are edging up
Even as the citywide numbers cool, Redfin’s data shows selective heat in the Triangle’s most desirable enclaves.
North Raleigh (Bedford at Falls River): Median prices increased 28.7% over year to $740,000. Sales were up 11.1%. Homes sold in around 35 days compared to 7 days last year.
Chapel Hill: Prices were up 6.5% year over year to $495,000. Sales were down 15.7%. Homes sold in around 65 days compared to 16 days last year.
Central Raleigh: Median prices jumped 18.9% year over year to $537,500, with homes taking 60 days to sell compared to 56 days last year.
Downtown Raleigh: Home prices were up 3.1% year over year to $497,500. Sales were also up 33.3% from last year. Homes sold after 58 days compared to 116 days last year.
Why Redfin shows a split market
After spiking to a seven‑month high in early April, 30-year fixed mortgage rates eased for three straight weeks and ended the month below 6.3%, according to Redfin — a shift that helped revive buyer activity heading into spring, say experts. (It’s since bounced back to around 6.5%).
Across the Triangle, prices are slightly down or modestly up, inventory is rising, and homes are taking longer to sell.
Conditions matter more than ever, said John Wood, owner of Re/Max United in Cary, who has been an agent in the Triangle since 1988.
“Buyers are ignoring homes that are overpriced or need work,” he said on Thursday. “Today’s buyer is not looking for a project home; they want to move in and enjoy.”
Variables like proximity to roads or flood zones are also impacting days on market, added Cory Sherman, a broker with Homegrown Real Estate in Durham.
“[That] needs to be adjusted for in the price,” he said.
Adding to the pressure is the new-home market, where builders are continuing to offer large concessions with below-market interest rates and credits. That’s pulling buyers away from older homes.
The plus side: Buyers have more leverage than at any point since 2019.
For those who have been waiting on the sidelines, “it’s a good opportunity,” said Ryan Fitzgerald, owner of Raleigh Realty.
They can complete inspections without rushing, negotiate repairs before closing, and include appraisals in their offers again. “All things that would have been considered a ‘deal killer’ just a few short months ago,” he said.
This story was originally published May 23, 2026 at 8:00 AM with the headline "One Triangle suburb saw double‑digit drops. Another saw bidding wars. Here’s why.."
