Triangle Housing Market Update: What October 2026 Data Shows for Raleigh, Cary and Wake County

Triangle Real Estate Market UpdateRaleigh Housing MarketWake County Real Estate

Nov 10

Every month I get the same two questions: "Is the Raleigh market slowing down?" and "Should I wait?" The honest answer is that the market is moving, but it is moving differently than it did a year ago. Here is what the most recent data says, with the source and time period next to every number.

Downtown Raleigh skyline from Boylan Avenue. Photo: Jmalljmall, public domain, via Wikimedia Commons.

A quick note on timing: the newest complete monthly listing data available as of early November covers October 2026, and the newest sold-home data from Redfin covers the three months ending September 2026. I use both, and I label which is which.

The October 2026 snapshot

For the Raleigh-Cary metro area in October 2026, Realtor.com reported:

Median listing price: $445,000, down 2.6% from October 2025 and unchanged from September
Active listings: 6,130, up 7.6% from a year earlier
New listings: 1,740, down 17.9% from a year earlier
Pending listings: 2,547, down 13.7% from a year earlier
Median days on market: 64, up 6.7% from a year earlier
Share of listings with a price reduction: 26.8%, up 1.3 percentage points

Wake County on its own looked similar. Realtor.com's October 2026 county data shows a $475,000 median listing price (down 4.9% year over year), 4,376 active listings (up 7.4%), 1,328 new listings (down 17.8%), 1,842 pending listings (down 15.8%), and a median of 61 days on market, up from 58 in both September 2026 and October 2025.

What stands out: inventory is up, but fewer sellers are listing

This is the part of the data I think matters most. Active inventory is higher than last year, yet new listings are down almost 18%. In other words, the extra supply buyers are seeing is not coming from a wave of new sellers. It lines up with homes staying on the market longer and fewer of them going under contract.

For buyers, that means more homes to compare, and more listings that have been sitting long enough for their sellers to consider terms. For sellers, it means the competition you face may include homes that have already been reduced, and buyers will measure you against them.

What sold homes are telling us

Listing data shows asking prices. Sold data shows what buyers actually paid. Redfin's figures for the three months ending September 2026:

Raleigh: median sale price $414,802, down 4.6% year over year; median 44 days on market, 6 more than a year earlier; homes sold for 98.1% of list price on average; about 4.5 months of supply
Cary: median sale price $629,700, down 0.6% year over year; median 32 days on market, 1 fewer than a year earlier; average sale-to-list ratio of 98.9%; about 2.6 months of supply

Cary and Raleigh are not behaving the same way. Cary's sold-home numbers were close to flat, and Cary had fewer homes for sale than a year earlier. Raleigh had noticeably more inventory and longer market times. That is one reason I do not price a home from a countywide headline.

The statewide picture

For context only: NC REALTORS' October 2026 report shows a statewide median sales price of $368,990 (down 0.4% from a year earlier), statewide sales down 19% year over year, and 5.98 months of inventory, which the report describes as a balanced market. Statewide numbers include very different markets, so I treat them as background, not a guide to Wake County pricing.

What this means if you are selling this winter

Price to the homes you are competing against right now, including the ones that have already been reduced.
Expect a longer timeline than the 2021-2022 market. A median of 61 to 64 days on market for listings means patience is normal.
Condition and presentation matter more when buyers have options. A pre-listing walkthrough is worth the time.
If your home already sat without an offer, my post on what to do after a listing expires walks through the next steps.

What this means if you are buying

You may have more room to negotiate on homes that have been listed for a while, especially where there has already been a price cut.
Well-priced homes in high-demand areas still move. Cary's 32-day median for sold homes is a reminder that "slower" is not the same everywhere.
Rates are a big part of this story. I break down the latest Freddie Mac numbers in a separate November update for buyers.

Frequently asked questions

Is the Raleigh housing market crashing?

The data does not show a crash. Asking prices in the Raleigh-Cary metro were down 2.6% year over year in October 2026, and Raleigh's median sale price was down 4.6% over the three months ending September. Inventory and days on market are up. That describes a slower, more negotiable market, not a collapse.

Are home prices dropping in Wake County?

Wake County's median listing price was $475,000 in October 2026, 4.9% lower than a year earlier, according to Realtor.com. A median can move because the mix of homes for sale changes, so your home's value depends on comparable sales near you.

How long does it take to sell a house in Raleigh right now?

Realtor.com reported a median of 64 days on market for Raleigh-Cary metro listings in October 2026. Redfin's sold-home median for Raleigh was 44 days over the three months ending September. The two measure different things, but both are longer than a year ago.

If you want to know how these numbers apply to your street, I will put together a pricing and competition review for your home, based on current comparable sales and active listings. Call or text me at (919) 527-5727 or email Blair.whelan@exprealty.com.

Blair Whelan | eXp Realty

Wake County housing market, October 2026

Cary real estate

Selling a home in Raleigh

Raleigh home value

What to Do After Your Listing Expires in North Carolina

Buying a home with Blair Whelan

Mortgage Rates Above 7%: What Triangle Home Buyers Should Know in November 2026